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Captain Howdy

Energy Prices

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1 minute ago, Captain Howdy said:

Completely taking the piss now. My supplier has actually gone bust. Gonna be a massive problem this


Good job they’re all foreign owned as well, that’ll lead to no unavoidable problems.


Chickens coming home to roost, sadly.

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19 minutes ago, Captain Howdy said:

Completely taking the piss now. My supplier has actually gone bust. Gonna be a massive problem this

Who you with?  Or were you with. 
 

Plenty more will go this week. ROC payments are out and unless they are very well hedged or have deep pockets they are going down! We’ll be back to the Big 6 in about 4 months.  There are about 80 suppliers at the moment, some people have made a lot of money but the gig is up.   

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9 minutes ago, Rico1304 said:

Who you with?  Or were you with. 
 

Plenty more will go this week. ROC payments are out and unless they are very well hedged or have deep pockets they are going down! We’ll be back to the Big 6 in about 4 months.  There are about 80 suppliers at the moment, some people have made a lot of money but the gig is up.   

 

How did they do it though, as it appears to be a race to the bottom with prices and margins, was it 'creative' accounting?

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11 minutes ago, Rico1304 said:

Who you with?  Or were you with. 
 

Plenty more will go this week. ROC payments are out and unless they are very well hedged or have deep pockets they are going down! We’ll be back to the Big 6 in about 4 months.  There are about 80 suppliers at the moment, some people have made a lot of money but the gig is up.   

People’s Energy. They were utter turd from the start. Who is best to go with?

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I switched my supplier last month and I'm a bit concerned about this one to be honest.

 

It was a toss up between this one and a company called Utility Point which ceased trading a few days ago.

 

Fingers crossed we'll be ok, but there's always that niggle about whether or not they'll stay afloat.

 

It's a risk consumers are forced to take with these smaller suppliers though especially if you want cheaper energy as the big 6 prices are ridiculous. 

 

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31 minutes ago, Bruce Spanner said:

 

How did they do it though, as it appears to be a race to the bottom with prices and margins, was it 'creative' accounting?

The new entrants benefited from a lower cost to serve as a result of tech. So no call centres and early adopters who were generally happy to deal with them via email and text.  All of the expensive to maintain customers were sticky to the Big 6. Small suppliers also had fewer regulatory obligations so you had the scenario where the big 6 were paying for the smaller suppliers to pinch their customers. 
 

I know a couple of blokes who set up a company and have made millions, it’s likely to go under this week and ofgem  will then allocate their customers to another supplier. That supplier will also take on their unhedged energy contracts and lose money on every single customer. 
 

British Gas is very very close to going. The new CEO has been brought in to prepare it for sale, but who wants it? The brand is toxic and it has a completely unmotivated workforce. 
 

 

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37 minutes ago, Harry's Lad said:

I switched my supplier last month and I'm a bit concerned about this one to be honest.

 

It was a toss up between this one and a company called Utility Point which ceased trading a few days ago.

 

Fingers crossed we'll be ok, but there's always that niggle about whether or not they'll stay afloat.

 

It's a risk consumers are forced to take with these smaller suppliers though especially if you want cheaper energy as the big 6 prices are ridiculous. 

 

I know Utility Point well. Who you with now? One supplier has gone under less than 2 months after launching and with a handful of customers. Just poor strategy. lots are selling tenners for 8 quid. 
 

 

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40 minutes ago, Captain Howdy said:

People’s Energy. They were utter turd from the start. Who is best to go with?

They were nice people, had a laugh with them. 
 

Octopus are good, but again their retail arm is being propped up at the moment.  
 

Older readers will remember me defending BG profits and saying that they were so high because BG had a lot of customers. Classic ‘big number X small number = big number’.  BG we’re making £1 a week profit per customer, not excessive by any stretch of the imagination. 

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Thing is, the prices generally change (go up usually!) on April 1st and October 1st. The upcoming rises are huge and it makes you wonder what's in store for April 2022. I've just switched suppliers and will be paying £20 per month more than my current tariff, but that's still better than the £50 per month increase I was being offered at renewal and through the comparison websites.

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Who's that with Trumo? We've been paying 93 a quid a month for both with green energy network. They then went bust so ofgem transferred us to edf . Looking on comparison sites and every deal is at least 50 quid a month more expensive and our deal end on the 1st.

 

 

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7 minutes ago, Trumo said:

Thing is, the prices generally change (go up usually!) on April 1st and October 1st. The upcoming rises are huge and it makes you wonder what's in store for April 2022. I've just switched suppliers and will be paying £20 per month more than my current tariff, but that's still better than the £50 per month increase I was being offered at renewal and through the comparison websites.

Inertia. Winning customers with cheap deals and hoping they don’t move. 

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34 minutes ago, Rico1304 said:

I know Utility Point well. Who you with now? One supplier has gone under less than 2 months after launching and with a handful of customers. Just poor strategy. lots are selling tenners for 8 quid. 
 

 

Outfox the Market. It's a pain in the arse  switching, but the company I was with wanted an extra £20 per month and money's tight these days. 

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MrsD changes whenever our contract is up to the cheapest available. We're locked in on a low price until next year which is lucky looking at the rises. Cost of basic utilities here is appalling compared to mainland Europe. 

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1 hour ago, Harry's Lad said:

Outfox the Market. It's a pain in the arse  switching, but the company I was with wanted an extra £20 per month and money's tight these days. 

They are nice people too.  Getting a locked in price is worth it. 

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1 hour ago, Harry's Lad said:

Outfox the Market. It's a pain in the arse  switching, but the company I was with wanted an extra £20 per month and money's tight these days. 

Just checked these guys, they want 106 quid a month extra. 

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2 minutes ago, littletedwest said:

Just checked these guys, they want 106 quid a month extra. 

They’ll be pricing based on energy costs now.  They aren’t going to sign up loss making customers now.  I wouldn’t expect any cheap deals until the spring at least.  

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I worked on the Electricity Market De Regulation through 1997 to 1999. Breaking up the old electricity boards, introducing competition and price reductions.

 

That was good for a time with new market entrants but then it turned to shit as the bar was set low to market entry encouraging almost anyone with a hundred grand of so, to set up as an energy supplier. The big companies swallowed up the competitive smaller ones and, uncompetitive smaller companies went tits up.

 

I saw the news yesterday that 4 suppliers are trying to offload customers as they are 'struggling' to survive with the increase in energy costs. Gas tends to be forward bought upto 2 years in advance. Electricity is produced on demand and the network balanced.

 

I keep an eye on tariffs and negotiate with whatever supplier Im with on renewal. Im currently with Avro Energy so hope they arent one of these 4 although Im guessing things will get a lot worse.

 

I dont tend to plum for the cheapest deals  because by their nature, companies offering them tend to be surviving hand to mouth and generally, they dont have good customer reviews.

 

With the Government breaking the triple lock protection on pensions, a lot of people living just on State Pensions are going to be badly hit by these shocking energy price rises.

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26 minutes ago, littletedwest said:

Just checked these guys, they want 106 quid a month extra. 

Fucking hell,  I'm paying £103. I was paying £100 to my old supplier but their best renewal price was £124 per month.

 

Outfox the Market and Utility Point were within a few pence of each other and I opted for the slightly more expensive one. Not sure why, but I'm glad I did.

 

Outrageous price you've been quoted. They're probably trying to claw back some of the losses they're about to make with the recent wholesale energy price increases which is a bit worrying. 

 

 

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14 minutes ago, stringvest said:

it's a bumpy ride atm Mr Richards, especially for your lot.  

Deffo. BG are massively in the shit.  Only a couple of people left from my days there, I got out at the right time.  

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1 minute ago, Rico1304 said:

Deffo. BG are massively in the shit.  Only a couple of people left from my days there, I got out at the right time.  

Amazing how many emails I'm getting asking about jobs...

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33 minutes ago, dockers_strike said:

I worked on the Electricity Market De Regulation through 1997 to 1999. Breaking up the old electricity boards, introducing competition and price reductions.

 

That was good for a time with new market entrants but then it turned to shit as the bar was set low to market entry encouraging almost anyone with a hundred grand of so, to set up as an energy supplier. The big companies swallowed up the competitive smaller ones and, uncompetitive smaller companies went tits up.

 

I saw the news yesterday that 4 suppliers are trying to offload customers as they are 'struggling' to survive with the increase in energy costs. Gas tends to be forward bought upto 2 years in advance. Electricity is produced on demand and the network balanced.

 

I keep an eye on tariffs and negotiate with whatever supplier Im with on renewal. Im currently with Avro Energy so hope they arent one of these 4 although Im guessing things will get a lot worse.

 

I dont tend to plum for the cheapest deals  because by their nature, companies offering them tend to be surviving hand to mouth and generally, they dont have good customer reviews.

 

With the Government breaking the triple lock protection on pensions, a lot of people living just on State Pensions are going to be badly hit by these shocking energy price rises.

Avro you say…

 

https://www.ofgem.gov.uk/publications/avro-energy-limited-provisional-order

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