Re: Energy companies collapse
 

Agreed and it's work they created for themselves.

As the boss of Octopus said, energy companies should have to buy energy in advance to match the tariffs they are offering their customers. If they just gamble on energy prices falling all the time, then they will get caught out when prices rise. The extra costs from companies not doing this and failing result in extra admin for Ofgem and these costs are passed onto us consumers.

Re: Energy companies collapse
 

As it always is and ever shall be

Re: Energy companies collapse
 

2 more energy firms cease trading.https://www.moneysavingexpert.com/ne...JLmFF22mCAtNik

Re: Energy companies collapse
 

Despite all the doomy predictions, Bulb are still going.

Re: Energy companies collapse
 

I think they are getting help on the QT. Too many customers to lose. With their pricing structure though at least they have not lost as much as those who were honoring massive loss inducing deals

Re: Energy companies collapse
 

Yes, they don’t do fixed rates or introductory bribes - just one basic rate (although they do now also offer an economy electricity tariff for EV owners). I guess this may have made business planning slightly simpler for them. It has certainly given them the necessary flexibility to move all their customers onto the Ofgem maximum tariff.

They installed our smart meter last week and against all expectations it has done something useful. All three teenagers in our house used the electric shower last night so we got a timely reminder of what it looks like when a 10kW appliance runs for about an hour, more or less continuously. It was eye-watering. I’ll be having a word.

Re: Energy companies collapse
 

they used to do introductory bribes as I almost got all my gas paid for one year by referring people

Re: Energy companies collapse
 

You've got teenagers that take a shower:shocked:

Re: Energy companies collapse
 

that is £2 quid gone poof just like that

Mind you a 10KW shower must be awesome

Re: Energy companies collapse
 

Re: Energy companies collapse
 

Yeah sorry I was meaning bribes as in reduced rate tariffs for the first six months and that sort of thing - stuff that would hamper their flexibility if they needed to suddenly increase their tariffs. Some other energy companies have found themselves selling at a significant loss in recent months because they have customers on those sorts of deals.

Re: Energy companies collapse
 

And now Bulb teeters on the brink …

https://www.bbc.co.uk/news/business-59373198

---------- Post added at 12:59 ---------- Previous post was at 12:51 ----------

We appear to have reached the point where the customer reassignment process is broken.

Re: Energy companies collapse
 

From Bulb website.

https://bulb.co.uk/blog/bulb-special-administration/

Re: Energy companies collapse
 

We had just switched to Green Energy from GOTO Energy, had only been with them for one month and had received back all our credit balance from GOTO. Then Green went under. So luckily I'm not in the hole moneywise.

I took meter readings the day Green went under and cancelled my Direct Debit.

I had an email saying I was being switched to Shell, but that was several weeks ago and heard nothing since. So I'll just bank what I was paying monthly to one side and wait.

Re: Energy companies collapse
 

I moved from Bulb to Shell in April this year, and have found them to be OK.

They, in fact, reduced my DD from £122 to £103 in August...