Economy Energy has collapsed
https://www.bbc.co.uk/news/business-46798461
From Companies House: DIRECTOR Lubna KHILJI BUDGET UTILITIES LIMITED, BUDGET UTILITY LIMITED, BUDGET ELECTRICITY LIMITED, BUDGET POWER LIMITED, ECONOMY GAS, ELECTRICITY AND WATER LIMITED, ECONOMY ELECTRICITY AND GAS LIMITED, ECONOMY GAS AND ELECTRICITY LIMITED, ECONOMY ELECTRICITY, GAS AND WATER LIMITED, ENERGY ECONOMY LIMITED, ECONOMY WATER LIMITED, ECONOMY ELECTRICITY LIMITED, ECONOMY UTILITIES LIMITED, ECONOMY UTILITY LIMITED, ECONOMY ENERGY TRADING LIMITED. A few more to fail soon? |
Re: Economy Energy has collapsed
No surprise they collapsed since they got banned from taking on new customers.
Same fate as IRESA. |
Re: Economy Energy has collapsed
All else being equal, i'd still try out some of these new small companies. In the event of them collapsing, the supply isn't cut off and any credit is fully protected.
Last June, Ofgem stated that they were looking for new entrants to the market to be verified as having a sustainable business plan; Martin Lewis has also urged them to apply a 'fit and proper person test'. |
Re: Economy Energy has collapsed
They’d be better just regulating the Big 6. It’s a farce encouraging unsustainable new entrants into the market. I’m assuming it’s the taxpayers who “protect” everyone’s credit? Defeats the purpose really.
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Re: Economy Energy has collapsed
No, the scheme isn't paid for out of general taxation.
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Re: Economy Energy has collapsed
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Re: Economy Energy has collapsed
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https://www.theguardian.com/business...0-in-the-lurch Nine energy suppliers have failed totalling £80m picked up by other companies (in other words their customers). Effectively penalised for going with reputable suppliers while those chasing a quick buck have their credit balances preserved. |
Re: Economy Energy has collapsed
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The company that I use has said that if I put my account in credit I can earn a decent rate of interest. I've checked and it would be covered by the scheme, but I can't help wondering if this is because they desperately need the funds. If everything seems ok in a month, I might pay a year in advance or something. . ---------- Post added at 05:47 ---------- Previous post was at 05:45 ---------- Quote:
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