Energy suppliers going bust

[Kevj]

Underwriters will use brands to write different classes of business. Completely different to buying something to sell on, how would you buy insurance to sell at a profit?

I’m sure that’s what insurance brokers do. They seek out the best deals for a client and charge a commission.

 

[Swindon On Tour]

I’ve just had an email to say my energy supplier, People’s Energy, has gone bust, along with 4 other suppliers this week alone. Looks like the reselling bubble has burst.

Green energy another.
Now defaulted to EDF.

 

[Dave Herbal]

Reselling bubble?

Aye. They’re energy resellers aren’t they? Some bloke in his front room buying gas and selling it on.

 

[AndrewP]

I’m sure that’s what insurance brokers do. They seek out the best deals for a client and charge a commission.

There's a subtle difference mate. Brokers are an intermediate, much like uSwitch etc.

 

[BRMC]

I’ve just had an email to say my energy supplier, People’s Energy, has gone bust, along with 4 other suppliers this week alone. Looks like the reselling bubble has burst.

I'm glad my £400 credit with them is protected.

 

[Dave Herbal]

I'm glad my £400 credit with them is protected.

Same here

 

[weebil64]

Tbf the government price cap shows they have little faith in the free market, just like they've had to appoint a regulator and an Ombudsman for the industry.

Energy is pretty much an essential service, not a luxury and companies know this.

The price cap is good but still subsidises the dividends.

 

[Edinburgh Black Cat]

Always found it hard to get my head around really. All these suppliers are essentially supplying nowt. Just buying it off somebody else then selling it on for profit.

Isn't always a profit though. They could put you on a fixed rate then make a loss on the energy they are buying.

Also cash flow could be a problem if they're paying up front to get cheaper rates but then not getting the cash from customers quick enough.

 

[tooliohelmet]

I’m sure that’s what insurance brokers do. They seek out the best deals for a client and charge a commission.

Insurance brokers don't buy a product and sell at a profit. Brokers get paid for advice not just finding a cheap price.

Yes I'm an insurance broker

 

[AndrewP]

Insurance brokers don't buy a product and sell at a profit. Brokers get paid for advice not just finding a cheap price.

Yes I'm an insurance broker

You get paid nowt if they buy elsewhere.

 

[tooliohelmet]

You get paid nowt if they buy elsewhere.

How've you seen my payslip!!

 

[AndrewP]

How've you seen my payslip!!

Mate, I haven't stopped being jealous since you posted your salary.

 

[Lankester Merrin]

They are notorious. Had one of my team in tears years ago as they owed her £600 and just wouldn't pay up.

Scottish Power are by far the worst company I have ever had to deal with. A massive rip off.

 

[tooliohelmet]

Mate, I haven't stopped being jealous since you posted your salary.

Bit of a change since morton house

 

[42]

Four more small energy firms could go bust next week

Rising wholesale gas prices means some companies are unable to supply energy customers have paid for.

www.bbc.co.uk

 

[BRMC]

Same here

Have you had confirmation you've been moved over to British Gas?

 

[TexasMackem]

Green energy another.
Now defaulted to EDF.

Utility Point today, the favourite supplier of lookaftermybills.com. The supplier of last resort is also EDF.

When I graduated this time last year, the only job I could find was working in EDF's call centre. It was one of the worst jobs I've ever done and having seen what I did, I fully expect EDF to exit the domestic energy market at some point. They'll be desperate now.

 

[AndrewP]

Utility Point today, the favourite supplier of lookaftermybills.com. The supplier of last resort is also EDF.

When I graduated this time last year, the only job I could find was working in EDF's call centre. It was one of the worst jobs I've ever done and having seen what I did, I fully expect EDF to exit the domestic energy market at some point. They'll be desperate now.

I thought you lived in Texas.

 

[TexasMackem]

I thought you lived in Texas.

I've been back in the UK for years marra. The cost of gas and electricity might drive me back mind.

 

[AndrewP]

I've been back in the UK for years marra. The cost of gas and electricity might drive me back mind.

I didn't realise, what brought you back?