Energy suppliers going bust

[Gaspode]

6 minutes ago, Wolfie said:

Green have just gone, along with Avro

We've been with Avro for a few yeaars - cheap but a bit crap.....not surprised they've gone

[AndyinLiverpool]

So much for the free market, even a contrived one like the gas.

[BaaLocks]

23 hours ago, TigerTedd said:

ive specifically been waiting a while to switch into their agile tarrif. My whole smart eco house plan depends on it. I’ve got a new battery being installed in the roof next week that will charge you overnight on their less than 0p rates. 

Is that the Tesla one that was launched a bit back? If not, which one?

[therealhantsram]

On 21/09/2021 at 15:21, Wolfie said:

But it looks like most of the smaller companies chose not to hedge their costs like the big boys do..

I read the other day that the big 6 can buy their supplies months in advance, but these small players don't have the capital so have to buy on the spot market.

They were always going to be screwed if prices surged.

[TigerTedd]

30 minutes ago, BaaLocks said:

Is that the Tesla one that was launched a bit back? If not, which one?

The battery? Im not sure actually. Tesla was mentioned. I’ve got a Solax battery at the minute, which came with my solar panels, but wouldn’t be enough by itself to handle the new electric heating and hot water, so it’s being topped up by the one I’m having installed, but I bought and paid for it so long ago I can’t remember what I paid for. Been endless delays getting it installed ‘installers got covid’, ‘it’s stuck in the suez’, ‘they sent the wrong one.’

pain in the arse, but hopefully the saga will be over soon and I’ll have a battery, and free energy. 

[EtoileSportiveDeDerby]

9 hours ago, cstand said:

Interesting article on this 

https://www.google.co.uk/amp/s/theconversation.com/amp/gas-price-spike-how-uk-government-failures-made-a-global-crisis-worse-168324

 

Absolutely typical UK approach. Shorttermism, no infrastructure, markets will sort themselves out etc And then the pack of cards crashes, what a surprise.

[Boycie]

15 hours ago, Wolfie said:

Green have just gone, along with Avro

Bugger.

My account credit and supply are safe though thank god.

Green my arse!

It was one of them auto swapping apps that sent me to Green, good job the money is protected as they’ll be sweating a bit.

Edited September 23, 2021 by Boycie

[EtoileSportiveDeDerby]

Energy feels a bit like like the wild west at the moment. On French TV they said that prices have gone up 40% since the start of this year. Quick look on the BBC it says 250% in the UK and 70% over the summer. Something does not add up.

In France they also have the option to change, it was an EU initiative i thiink, but it is a lot more regulated, nobody is talking about energy company going bust.

[Tamworthram]

On 21/09/2021 at 15:01, 1of4 said:

The wonders of the free market. I seem to remember being told many years ago that we would get  better and cheaper utility suppliers once they had been de-nationalized. I'm still waiting for that statement to become a reality.

It might be reality now. There is no way of telling what the prices would have been I f they hadn’t been de-nationalised and we hadn’t had the opportunity to switch suppliers.

[Wolfie]

2 hours ago, EtoileSportiveDeDerby said:

Energy feels a bit like like the wild west at the moment. On French TV they said that prices have gone up 40% since the start of this year. Quick look on the BBC it says 250% in the UK and 70% over the summer. Something does not add up.

In France they also have the option to change, it was an EU initiative i thiink, but it is a lot more regulated, nobody is talking about energy company going bust.

That might be retail price though?. Dunno. The 250% rise is for wholesale but most of the big suppliers buy gas months/years in advance to fix their costs.

Also the french might not have the tens of small suppliers we do. If they've only got a few big ones, who hedge their gas price as above, then maybe that's why.

[cstand]

Seems a good offer at the moment 

https://www.britishgasevolve.co.uk/lidl-plus-british-gas-evolve

[Stive Pesley]

19 hours ago, AndyinLiverpool said:

So much for the free market, even a contrived one like the gas.

It's the usual story isn't it?

It's capitalist free market when there is profit to be made, but the second it becomes a problem, the government have to step in and bail them out. The remaining so-called "big 6" don't have the capacity to suddenly take on millions of extra customers, and can't afford to but the extra gas to supply them - and suddenly the government are throwing our tax payers money at them

Same with the CO2 shortages

I'll be amazed if there is anyone left after this debacle who doesn't believe the energy sector should be back in public ownership

[Grumpy Git]

3 hours ago, Stive Pesley said:

It's the usual story isn't it?

It's capitalist free market when there is profit to be made, but the second it becomes a problem, the government have to step in and bail them out. The remaining so-called "big 6" don't have the capacity to suddenly take on millions of extra customers, and can't afford to but the extra gas to supply them - and suddenly the government are throwing our tax payers money at them

Same with the CO2 shortages

I'll be amazed if there is anyone left after this debacle who doesn't believe the energy sector should be back in public ownership

Well EDF are a French state owned company. I believe it's illegal in Germany (and maybe France), for a foreign power to own any utilitiy business?

All the current tossers in the government worry about is winning their seat at the next election and where their next free lunch is coming from.

[EtoileSportiveDeDerby]

10 minutes ago, Grumpy Git said:

Well EDF are a French state owned company. I believe it's illegal in Germany (and maybe France), for a foreign power to own any utilitiy business?

All the current tossers in the government worry about is winning their seat at the next election and where their next free lunch is coming from.

And EDF cannot increase their prices at will in France so instead increase it outside of France

[GB SPORTS]

On 23/09/2021 at 15:15, Grumpy Git said:

Well EDF are a French state owned company. I believe it's illegal in Germany (and maybe France), for a foreign power to own any utilitiy business?

All the current tossers in the government worry about is winning their seat at the next election and where their next free lunch is coming from.

Yes the law was changed in 2001 to allow EU registered businesses to supply utilities in the UK and certain other member states didn't reciprocrate. I said at the time it would be a disaster in the making.

Edited September 25, 2021 by I DONT MIND

[r4derby]

On 23/09/2021 at 07:04, Boycie said:

Bugger.

My account credit and supply are safe though thank god.

Green my arse!

It was one of them auto swapping apps that sent me to Green, good job the money is protected as they’ll be sweating a bit.

In the same boat as you. With Green so got the email saying I was being switched to another provider. However, I used ‘look after my bills’ (or similar) to switch in the first place so they’ve emailed as well saying they will find the beat deal and let me know in the coming weeks.

Free to switch with initial few weeks service, so shouldn’t be too much hassle. But then again, everywhere is expensive so not expecting much in terms of a deal.

[Boycie]

1 hour ago, r4derby said:

In the same boat as you. With Green so got the email saying I was being switched to another provider. However, I used ‘look after my bills’ (or similar) to switch in the first place so they’ve emailed as well saying they will find the beat deal and let me know in the coming weeks.

Free to switch with initial few weeks service, so shouldn’t be too much hassle. But then again, everywhere is expensive so not expecting much in terms of a deal.

I don’t think I’ve had that email, only the one explaining why they went under.

[r4derby]

3 minutes ago, Boycie said:

I don’t think I’ve had that email, only the one explaining why they went under.

The email from Green said that Ofgem were switching all of their customers over and more info would follow soon.

Look after my bills have said that after Ofgem have switched us over, they will assess the market and find the best quote. That’s all the info I’ve had so far, but pleased with how quickly they messaged calming any nerves and saying that supply won’t be lost at any point 

[TigerTedd]

Finally, my new massive battery has arrived. I paid £3.5k for it several months ago. The installer informs me he could get £8k for it now. I’m quite tempted to cash in. I very much doubt it adds £8k value to my house. 

[Wolfie]

My personal experience of this is that it's a bit chaotic to say the least.

I've got the now defunct PFP energy emailing me every other day saying I need to give meter readings, even though I've got a smart meter; nobody answers the phone and the website isn't accepting readings.

Meanwhile British Gas ask me to set up my online account - which I immediately do - to be met with a message "We need to speak to you, call this number....". Phone the number, hear a warning that I'll be on hold for at least an hour. Try again the following day & on hold for 30 mins. When I get through I'm told I shouldn't have phoned them and I'll be contacted by them when they need something.