Timmy elsewhereApril 22, 2012 Tim WorstallTimmy Elsewhere11 CommentsAt the ASI: Ken seems to have forgotten that there are costs involved in buying wholesale and selling retail. previousRitchie on tax incidence againnextPaul B tells us 11 thoughts on “Timmy elsewhere” Flatcap Army April 22, 2012 at 12:16 pm worth remembering that Ed “The Gurning Robot” Miliband has suggested doing this on a national level too http://www.guardian.co.uk/politics/2012/apr/20/ed-miliband-voters-cheap-electricity As well thought out and anything else that comes drooling out of his mouth SimonF April 22, 2012 at 1:17 pm My guess is that the RECs are getting their electricity at wholesale prices lower than TfL so his model needs to be even leaner than theirs. Dave E April 22, 2012 at 2:10 pm London Transport, the forerunner of TfL, used to generate its own electricity. Perhaps Ken could ressurect the Lots Road power station. He could fuel it with cheap oil obtained through a barter deal with Venezuela. Go on ken, show us how socialism works, or not, as the case may be. Let’s run the capitalism versus socialism experiment once again, as in East Germany vs West Germany and North Korea vs South Korea. Good luck! Fortunately I don’t have to live in London. bilbaoboy April 22, 2012 at 9:08 pm The guy is a self-seeking, loud-mouthed, professional politician of the very lowest calibre. And the competition is hot down at the lowest level. When a guy like Sugar tells him to get on his bike…. john b April 23, 2012 at 6:17 am Tim, you’re wrong about the logistics – this wouldn’t involve physical power transmission, it’d just involve setting up as a power retailer, like Virgin Energy or British Gas or any of the other non-incumbents. But yes, it’s hard to imagine that TfL Electric would get wholesale power any cheaper than British Gas or EDF do. (also, ‘hasn’t run a business’ seems a bit of an odd claim given that talk over the course of the campaign seems to have focused primarily on the amount of money Ken has made from his business and the amount of tax he has and hasn’t paid on it…) Surreptitious Evil April 23, 2012 at 6:56 am ‘hasn’t run a business’ seems a bit of an odd claim Not really. Although legally indistinguishable, passing your earnings for media appearances through a service company, legitimate but politically careless, it isn’t quite the same thing as “running a business”. Even if you do pay for a couple of Labour party researchers from the proceeds. JamesV April 23, 2012 at 8:31 am Aha, but TfLeccy as a nationalised (Londonised?) concern won’t be making all those big nasty profits. More mars bars for the common man, fewer champagne baths full of nubile hookers on superyachts for the nasty exploiting bosses. That’ll be the argument anyway. john b April 23, 2012 at 11:10 am Performing a service for multiple clients for money and employing people to help you do this doesn’t count as ‘running a business’? Blimey. Jim April 23, 2012 at 1:23 pm @John b: I think Ken Livingstone is on record as saying he basically didn’t have clue how his finances worked, and he just passed everything on to his accountant. That was his defence for not having a clue how much he had earned, and/or how much tax had been paid, where and when. Not the best person to be trying to run such a complex business, or even oversee someone else running it either. Edit: here is the article: http://www.thisislondon.co.uk/news/mayor/ken-livingstone-the-truth-about-that-tax-affair-7660826.html Ltw April 23, 2012 at 5:25 pm Perfect Tim. Bad debts, call centres, hell even sending out the bills and processing payments all adds up. Of course, being guvmint he can hide a lot of the cost in the existing public service I suppose. john b April 24, 2012 at 2:22 am Does James Dyson calculate his own accounts? Did Steve Jobs? Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.