Cable Forum - UK Energy Prices

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1andrew1

28-11-2021 14:27

Re: Energy companies collapse

Quote:

Originally Posted by nomadking (Post 36103316)

Octopus Energy is part of the Octopus Group. Their electricity is sourced from renewables, not gas generated.
Where did Shell Energy get the money from, if not the Shell Group? Easy if you have rich "parents".

The gas that Octopus supplies its customers is not renewable! As I explained before, it's a dual fuel supplier like its peers. Its majority shareholder (Octopus Group) has not had to bail it out.

Here's some useful information from the Shell Energy Retail site:

Quote:

At Shell Energy, all of our electricity comes from 100% renewable sources like wind, solar and biomass...

But when there is a high demand for gas, and gas prices rise, the cost of buying electricity from all different generation sources (including renewable) increases too.

So, higher gas prices also impact renewable electricty prices.

Quote:

Some suppliers are going out of business, why is that?

When a customer joins us, we buy energy up front for the length of that tariff - either 1, 2 or 3 years in advance. It means that if energy prices fluctuate, we’ve locked in an agreement on how much we’ll buy it for and how much our customers will pay for it. If suppliers haven’t done that then big increases in wholesale prices can put a strain on their finances.

https://www.shellenergy.co.uk/blog/p...s-are-changing

Jaymoss

28-11-2021 14:51

Re: Energy companies collapse

Octopus finally sorted my Avro Balance and Bill just need my first bill off them now. 2 Months I guess not to bad but I think Avro were being quite dodgy taking money out for other companies

Paul	28-11-2021 15:53

Re: Energy companies collapse

Quote:

Originally Posted by 1andrew1 (Post 36103321)

So, higher gas prices also impact renewable electricty prices.

I'd love to hear the explanation for that.

Taf	28-11-2021 20:18

Re: Energy companies collapse

Quote:

Originally Posted by Paul (Post 36103335)

I'd love to hear the explanation for that.

It's a seller's market? :dunce:

TimeLord2018

01-12-2021 13:34

Re: Energy companies collapse

Another energy firm collapses - Zog Energy

Quote:

Another energy supplier has collapsed amid an ongoing surge in gas prices, UK regulator Ofgem has said.

Zog Energy, which has about 11,700 domestic energy customers, ceased trading on Wednesday.

https://www.bbc.co.uk/news/business-59488818

Chris

01-12-2021 13:40

Re: Energy companies collapse

To be fair, they didn’t go bust, they just fell foul of the little-known Stupid Names Act (2016).

TheDaddy

01-12-2021 14:11

Re: Energy companies collapse

Quote:

Originally Posted by Chris (Post 36103700)

To be fair, they didn’t go bust, they just fell foul of the little-known Stupid Names Act (2016).

Kneel before Zog sorry Zod

Mr K	01-12-2021 21:25

Re: Energy companies collapse

Bugger that's both my electricity (symbio) and gas(zog) gone bust. Zog were a nice uncomplicated company as well as cheap, you got a reply within an hour of emailing them. No online account, or any meter readers bothering you, Never any mention of a smart meter. Just took your word and an accurate bill each month. Stayed with them longer than anyone else.

No worries, being a cheapskate I've been down this road many times !

Jaymoss

01-12-2021 21:31

Re: Energy companies collapse

Quote:

Originally Posted by Mr K (Post 36103801)

No worries, being a cheapskate I've been down this road many times !

then this is really going to hurt hahahaha

Mr K	01-12-2021 21:34

Re: Energy companies collapse

Quote:

Originally Posted by Jaymoss (Post 36103803)

then this is really going to hurt hahahaha

Well I'm happy in the knowledge I've being paying less over the years than I needed to ;)

1andrew1

01-12-2021 21:45

Re: Energy companies collapse

Quote:

Originally Posted by Mr K (Post 36103801)

Are you collecting obscure energy providers like stamps, Mr K? :D

On a more serious note, I do feel sorry for those on pensions and universal credit next year who are not on fixed rates, typically customers of defunct providers. Wholesale gas prices have gone up by some 450% in the last year and that will make its mark felt in April's variable rates. Let's hope it's a mild winter and mild 2022.

Jaymoss

01-12-2021 22:00

Re: Energy companies collapse

Quote:

Originally Posted by Mr K (Post 36103804)

Well I'm happy in the knowledge I've being paying less over the years than I needed to ;)

I was paying a really low rate till Avro collapsed too

Chris

01-12-2021 22:00

Re: Energy companies collapse

Quote:

Originally Posted by Mr K (Post 36103801)

I guess you can afford the personal touch when you have next to no customers. Unfortunately it also means you can’t afford to buy your own product when times are tough.