Energy suppliers going bust

Just finished sorting our switch from PFP to British Gas.

We've defaulted onto BG's Price Promise April 2022 (Variable) deal and the annual price has gone up from £1440 (fixed) to £1650 (variable, estimated). Bit of a pisser but reading some stories it could have been worse. We seem to have amassed £700 in credit though, which I'm assured will be credited to our new account 'soon'.

What do people think about looking for a new fixed deal? Straight away of wait to see if it calms down?
 


Steak Pie said:
Just finished sorting our switch from PFP to British Gas.

We've defaulted onto BG's Price Promise April 2022 (Variable) deal and the annual price has gone up from £1440 (fixed) to £1650 (variable, estimated). Bit of a pisser but reading some stories it could have been worse. We seem to have amassed £700 in credit though, which I'm assured will be credited to our new account 'soon'.

What do people think about looking for a new fixed deal? Straight away of wait to see if it calms down?
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I've been offered that, isn't it fixed until April 2022?
 
TDalt said:
Going to be problems over the next few months, with fuel, energy, council tax, food and drink and NI going up. People have to claw the back the money from somewhere and the easiest place is nights out, meals out, cinema, new clothes etc etc, which then has a knock on affect with business closures, job losses etc etc
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All of those businesses will have higher gas bills too so may have to put prices up
 
2 year fix with Ovo ended yesterday (crap timing). Last years costs based on the KwH's of Gas and Electric was £1,208, they are kindly now offering me 12 or 24 months fixed deals today based on the same usage of £2,844 i.e. £237 PCM, so only a 135% price increase. Think I will stick on the variable rate, at current prices and daily charges that comes out at circa £1,670 for the coming year albeit exposed to the whims of the market be it up or down.
 
garyswc said:
2 year fix with Ovo ended yesterday (crap timing). Last years costs based on the KwH's of Gas and Electric was £1,208, they are kindly now offering me 12 or 24 months fixed deals today based on the same usage of £2,844 i.e. £237 PCM, so only a 135% price increase. Think I will stick on the variable rate, at current prices and daily charges that comes out at circa £1,670 for the coming year albeit exposed to the whims of the market be it up or down.
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Prices go up on variable next Friday with the price cap mate, so you’ll have that price for about a week
 
Squat said:
they said yesterday that the price rises are only counted for the 6 months to august and the next 6 months are going to be worse. dont really want to lock into a new deal thats 700 quid more than my old one but it might be even worse if i wait

might be down to the new supplier, but edf havent. i'm just going onto the standard variable. all the comparison site deals coming up are just the variable ones anyway. looks like the companies arent bothering with cheap ones at the min.
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We just switched to a fixed (cheaper) deal but I see our supplier on the ‘red list’ in the papers . Hopefully they can hang on!
 
Everyone should just tell them to do one and refuse to pay these ridiculous increases. They’d sharp get their house in order if all their income stopped. A lot of people can’t just conjure up an extra £100 a month. I certainly don’t have it lying around.
 
I’m expecting the same with symbio who I’m with. Couldn’t actually wait to move as we are electric only at the moment, so was looking forward to gas central heating again. f***ing typical.
 
Dave Herbal said:
Everyone should just tell them to do one and refuse to pay these ridiculous increases. They’d sharp get their house in order if all their income stopped. A lot of people can’t just conjure up an extra £100 a month. I certainly don’t have it lying around.
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Aye but even with the increases most companies are making a loss atm.
 
My tarrif is due to end in October with Green energy. (already had an email saying they are struggling and there ceo was on the news saying they will struggle to finish the year)

I can now move without an exit fee and been looking on the compare websites but they aren't offering any tarrifs at all so can't move

I am also £130 in credit with them. Any tips as I am in limbo at the minute with them
 
Baby Give It Up said:
My tarrif is due to end in October with Green energy. (already had an email saying they are struggling and there ceo was on the news saying they will struggle to finish the year)

I can now move without an exit fee and been looking on the compare websites but they aren't offering any tarrifs at all so can't move

I am also £130 in credit with them. Any tips as I am in limbo at the minute with them
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I'd probably just hold up until they go bust and then you'll be assigned a new supplier with a rate no higher than the current price cap.
 
Well I've fucked up by waiting, my variable offer of £113 a month has gone and now the cheapest I can get is £148, fixed for 2 years I don't want.
 

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