Energy suppliers going bust



Roger said:
New supplier = new tariff. When you get switched to a supplier of last resort, you don't keep your existing tariff, so it will be a tariff of last resort too - a "deemed tariff" which is normally very high (although for PAYG they will still be bound by the price cap)
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Oh yes, believe me I know. I worked for EDF when Solarplicity and others went bust and it was a nightmare. Loads of customers were demanding the continuation of old tariffs and refusing to pay new prices and legacy debts, then going on to leave anyway.

In moments of clarity, I often wondered why EDF, being one of the biggest power companies in the world, employed people to sit and argue with domestic customers over relative chump change.
 
Roger said:
New supplier = new tariff. When you get switched to a supplier of last resort, you don't keep your existing tariff, so it will be a tariff of last resort too - a "deemed tariff" which is normally very high (although for PAYG they will still be bound by the price cap)
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I just got an email from British Gas, saying they’d acquired me but it would be a cheaper tariff than they normally offer.
 
Squat said:
i'm with UP as well, but not had an email yet. rather than charge me the same every month so in the summer i built up credit, they charge me double in the winter compared to summer. its not just that is it?
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cheers for the reply, it isn't the case, my monthly usage during the summer months is between 45 and 55 pound per month. My winter usage is about 115-125. I was paying 85 per month all year. Then without warning on the day they went bust took a of about £103 taking my credit up to about £750. I have been trying to get my credit back since early May and they just ignored me and the ombudsman.

The owners had the cheek to set up another company, Neon Reef knowing they were going bust and by the looks of the reviews on Trust Pilot, they have started the games of not paying back their customers in credit. It wouldn't surprise me if they are next to go.
 
Darlo1973 said:
Same reason the cost of food is open to market forces.

EDF have around 5 million customers. That's a profit of £10 per household per year. Doesn't seem that excessive compared to how much other businesses make out of us.
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tunstallhill said:
EDF Energy made £50million in clear profits from its UK business in 2019.

the bottom line is that every person in the country needs energy, there is no other option. why should the cost of that be open to market forces?
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Energy companies make less than 1% profit on customers the wiggle room is tiny, the breakdown of what you pay proves nationalisation is the best idea
Dun Scathach said:
Has anyone considered Great Annual Savings’ position during all of this? Are they impacted?
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Business only aren’t they?
PTR said:
I think the recent rise in gas prices hasn't helped them.

Good thing is that these companies going bust doesn't significantly impact the customers.
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Nah it doesn’t really impact the customers but it’s cost around 3000 people including me a job
Will e said:
Electric 5802Kwh
Gas 13368Kwh
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I’d be making sure they know that mate
cornish mackem said:
Didn’t we used to have nationalised energy supplies?
After watching the vids on the Volcano eruption on the other thread I’d love to see a massive investment in geothermal making us less reliant on overseas energy
The pool in Penzance has just started heating it geothermally ( is that such a word) and is there anything other than cost stopping us generating leccy that way?
there’s some power in those volcanoes and I know we don’t have any here but there must be a way of getting down that far here too
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I was watching someone on Iceland and they have geothermal and the heating bills are cheap as
 
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Dan The Man said:
Energy companies make less than 1% profit on customers the wiggle room is tiny, the breakdown of what you pay proves nationalisation is the best idea

Business only aren’t they?

Nah it doesn’t really impact the customers but it’s cost around 3000 people including me a job

I’d be making sure they know that mate

I was watching someone on Iceland and they have geothermal and the heating bills are cheap as
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Yeah I was reading about Iceland. The availability of cheap geothermal heating is one of the reasons their homes look like tin sheds. They are designed to let the house completely breathe as people blast our their cheap heating. They look cheap but they are designed perfectly.... apparently
 
Wild Card said:
cheers for the reply, it isn't the case, my monthly usage during the summer months is between 45 and 55 pound per month. My winter usage is about 115-125. I was paying 85 per month all year. Then without warning on the day they went bust took a of about £103 taking my credit up to about £750. I have been trying to get my credit back since early May and they just ignored me and the ombudsman.

The owners had the cheek to set up another company, Neon Reef knowing they were going bust and by the looks of the reviews on Trust Pilot, they have started the games of not paying back their customers in credit. It wouldn't surprise me if they are next to go.
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the faff on makes me think just stick to the big suppliers from now on, although they may be the only ones that survive.
 
Listened to the useless whopper Kwarteng on Today on R4 this morning. Whenever the presenter asked a valid question or asked him to clarify his answer he just refused to answer and said "I'm not playing your games".
 
Wild Card said:
Yeah I was reading about Iceland. The availability of cheap geothermal heating is one of the reasons their homes look like tin sheds. They are designed to let the house completely breathe as people blast our their cheap heating. They look cheap but they are designed perfectly.... apparently
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i wouldnt have thought a house pumping geothermal heat directly into the atmosphere would be designed perfectly for the climate though
Paddy O'Dors said:
Listened to the useless whopper Kwarteng on Today on R4 this morning. Whenever the presenter asked a valid question or asked him to clarify his answer he just refused to answer and said "I'm not playing your games".
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hopeless. asked about how low paid people can pay when the cost is going up 40% and they are cutting UC he just answered a different question that his job was to ensure they had a gas supply. didnt give a shite how people pay for it.
 
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Just saw an email from Bulb pop up in my inbox.
Was expecting it to be about this but instead it was telling me they're installing smart meters in my area and I should book in to get one.
 
Dan The Man said:
Energy companies make less than 1% profit on customers the wiggle room is tiny, the breakdown of what you pay proves nationalisation is the best idea

Business only aren’t they?

Nah it doesn’t really impact the customers but it’s cost around 3000 people including me a job

I’d be making sure they know that mate

I was watching someone on Iceland and they have geothermal and the heating bills are cheap as
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I wonder what it cost him to put it in.
we have a bore hole for water. It was 5k to put in but unlimited water for the cost of pumping it out the ground which I do with a petrol generator at <£5/ year so it will pay for itself eventually.
 

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