Business and Economics at SHSK

'Typical monopolies'  - great example for Unit 1 and Unit 3 Economics
Without competition they make huge supernormal profits  and give customers a low quality service.
Watch the video at http://www.huffingtonpost.co.uk/2014/01/21/christmas-power-cuts-tim-yeo_n_4636530.html?utm_hp_ref=uk

A senior Tory Tim Yeo has delivered a stinging attack on energy company bosses who left thousands of customers without power over the Christmas break, accusing them of behaviour "typical of a monopoly".
He said power distributors had displayed "utter complacency" and of failing to show any concern for  customers.
Bosses from the leading distributors - Scottish Power, UK Power Networks, Scottish and Southern Energy, Electricity North West, Western Power Distribution and the Energy Networks Association - gave evidence to the committee on the blackouts which hit households for days following storms during the Christmas period.

'You have lacked any expression of real concern for your customers. It's absolutely typical of a monopoly, particularly monopolies whose charges are not very visible to the customers who have to pay them," he said.