Thread: The energy crisis
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Old 28-11-2021, 14:27   #316
1andrew1
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Re: Energy companies collapse
Quote:
Originally Posted by nomadking View Post
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
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