Energy companies in trouble - good

[Deleted member 159894]

All over the news today that the energy companies are struggling, sod 'em I say.

All these little tinpot firms sprung up over recent years, I recall more than one was being run from someone's back bedroom, at first it seemed a good idea to have challenger/disrupter businesses out there but as soon as they hit tough times they are looking for help, they can naff off because we've all been propping up their balance sheets for years by pre-paying for our supply long before we use it.

These companies load our monthly payments so that we are massively in credit during Summer months which is meant to balance out in the Winter so they sit on our cash for most of the year, multiply that by many hundreds of thousands and it's great for their books but now they are struggling - diddums!

I use Bulb so went onto their website this Morning to enquire what they would charge a new customer, I gave my address and they came up with a monthly figure £100 less than what I am paying, a figure based on the previous occupiers usage - me!

I've no idea why I even pay monthly so am going to look into which firms will allow me to send them quarterly meter readings and pay up the accurate figure once they have calculated my bill.

The water people can do one as well, I am on a meter, they read it every 6 months and take my payments by DD every month so why do they keep insisting that I am underpaying? Twats.

 

[SpikyMikey]

All over the news today that the energy companies are struggling, sod 'em I say.

All these little tinpot firms sprung up over recent years, I recall more than one was being run from someone's back bedroom, at first it seemed a good idea to have challenger/disrupter businesses out there but as soon as they hit tough times they are looking for help, they can naff off because we've all been propping up their balance sheets for years by pre-paying for our supply long before we use it.

These companies load our monthly payments so that we are massively in credit during Summer months which is meant to balance out in the Winter so they sit on our cash for most of the year, multiply that by many hundreds of thousands and it's great for their books but now they are struggling - diddums!

I use Bulb so went onto their website this Morning to enquire what they would charge a new customer, I gave my address and they came up with a monthly figure £100 less than what I am paying, a figure based on the previous occupiers usage - me!

I've no idea why I even pay monthly so am going to look into which firms will allow me to send them quarterly meter readings and pay up the accurate figure once they have calculated my bill.

The water people can do one as well, I am on a meter, they read it every 6 months and take my payments by DD every month so why do hey keep insisting that I am underpaying? Twats.

And breathe........
But I happen to agree with you.

 

[Fastcar155]

All over the news today that the energy companies are struggling, sod 'em I say.

All these little tinpot firms sprung up over recent years, I recall more than one was being run from someone's back bedroom, at first it seemed a good idea to have challenger/disrupter businesses out there but as soon as they hit tough times they are looking for help, they can naff off because we've all been propping up their balance sheets for years by pre-paying for our supply long before we use it.

These companies load our monthly payments so that we are massively in credit during Summer months which is meant to balance out in the Winter so they sit on our cash for most of the year, multiply that by many hundreds of thousands and it's great for their books but now they are struggling - diddums!

I use Bulb so went onto their website this Morning to enquire what they would charge a new customer, I gave my address and they came up with a monthly figure £100 less than what I am paying, a figure based on the previous occupiers usage - me!

I've no idea why I even pay monthly so am going to look into which firms will allow me to send them quarterly meter readings and pay up the accurate figure once they have calculated my bill.

The water people can do one as well, I am on a meter, they read it every 6 months and take my payments by DD every month so why do they keep insisting that I am underpaying? Twats.

Bulb are no bright light either.

 

[clk320x]

I've no idea why I even pay monthly so am going to look into which firms will allow me to send them quarterly meter readings and pay up the accurate figure once they have calculated my bill

I do this with British Gas )

 

[Jukie]

Bulb are no bright light either.

Care to expand? I'm a current Bulb customer and price increases aside, I'm very happy with them.

 

[Gbrowncls55]

I have found Bulb excellent and have been very happy. hard for any company to cope with 200% increase in raw materials. Protecting supply is the real issue

 

[Fastcar155]

Care to expand? I'm a current Bulb customer and price increases aside, I'm very happy with them.

Hi , Bulb could be at the end of it life unless it's shareholders don't provide more working capital.

 

[markjay]

I am with Utility Warehouse for over 10 years now.

I submit meter readings (gas and electricity) os often as I like, the monthly bill is accurate and all my submitted readings are all listed in it.

They also have a meter reader coming in person from time to time to read the meters, about twice a year from memory.

That said, I haven't compare their gas and electricity prices for some time now. They used to have a pledge that said they will always be "cheaper than British Gas prices" in the same area, I don't know if it's still the case, and in any event not sure that means much... so idea if they are cheaper than others.

And, I heard good things about Octopus energy - though I am not actually a customer.

Hope this helps.

 

[Jukie]

Hi , Bulb could be at the end of it life unless it's shareholders don't provide more working capital.

Ok, thanks

 

[kianok]

We’ve been with Peoples Energy for a while who have also gone pop.

Quite liked them as the didn’t pester me every other day to get a smart meter installed.

 

[MrGreedy]

I've been with Avro who have been good value and don't hassle. But getting in touch with them quickly is virtually impossible since COVID, and now with 12-14 day response times. Given the power going pop from France the other day, the first thing I did was sign up for a new deal, and thought it better to sign up with the cheapest company likely to weather the storm, so I've signed up with the shower called E.on next.
Wouldn't normally consider a big provider, but with this going on and the fact my dumb smart meter should start being smart again, I felt it was probably the best bet to lock in the least expensive pricing.

 

[Smart320]

I am with Octopus ( dual fuel ) for the second time as usually switch every 18 months .
excellent customer service , I submit meter readings every month , get a statement within 24 hours , all done on line. Can speak to them when I have needed and they are very flexible about changing monthly payments when usage varied from estimates.

 

[SpikyMikey]

Also with Octopus and can confirm switching was easy-peasy and online meter reading a doddle.
Switched from SSE because I got totally p*ssed off with the constant hassling from them to get a smart meter installed; despite the fact that the mobile signal in these here parts is cr@p and it probably wouldn't have worked properly.

 

[190]

I've had two energy companies go bust on me in the past but it wasn't a problem as the transfer to a new company went very smoothly. I have though stopped picking the cheapest supplier and now go with one that's only a little more expensive but already has a good reputation. Currently with Avro and they haven't gone bust - yet.

If so many tinpot companies are going bust we should really be pointing the finger at the regulator for not ensuring they are financially robust when set up.

 

[Dickster]

S

I've been with Avro who have been good value and don't hassle. But getting in touch with them quickly is virtually impossible since COVID, and now with 12-14 day response times. Given the power going pop from France the other day, the first thing I did was sign up for a new deal, and thought it better to sign up with the cheapest company likely to weather the storm, so I've signed up with the shower called E.on next.
Wouldn't normally consider a big provider, but with this going on and the fact my dumb smart meter should start being smart again, I felt it was probably the best bet to lock in the least expensive pricing.

Same here, I was with eon and changed to Avro. Then I found I was £700 in credit and couldn’t change my monthly payments - only they can when I requested a refund they ignored me.

so I cancelled the DD and sure enough they contacted me straight away! Said they would only issue refund if I reinstated the DD. I told them where to go and went back to eon. They’ve told me I could wait months for the refund. So I’m about to go to the ombudsman.

twats the lot of them

 

[markjay]

Just got this email from Utility Warehouse:

'20 September 2021 - We understand why recent media coverage of the UK energy market has many people worried. But we’d like to reassure all our customers that we’re continuing to operate as normal and are protected from the pricing volatility many other providers are currently experiencing.

It’s been well-documented that wholesale energy prices - the cost suppliers pay to buy energy - have risen to record levels in recent weeks. This has been compounded by Ofgem’s price cap - the upper limit at which suppliers can charge their customers for energy - which has meant a number of UK suppliers are no longer able to operate sustainably. In fact, some have stopped trading altogether.

However, UW is well-positioned to weather this storm and this means that as a UW customer, your service will continue. We can say this with real confidence for three key reasons:

Firstly, the structure of our wholesale energy agreement means that the cost of the energy we buy is protected against pricing volatility, both today and in the future.

Secondly, we’re more than just an energy provider. We have a unique multiservice offer that also spans broadband, mobile and insurance. This generates a number of different revenue streams and means we’re not solely reliant on energy.

And finally, we’ve always taken a long-term approach to pricing while still offering competitive tariffs to all our customers. We’ve spent the last 25 years building a stable and sustainable business, and we plan to be around for many years to come.'

 

[Chrishazle]

Been with Avro for a couple of years now, get a monthly reminder 3 days before statement date to submit meter readings - which I always do on the due date. They've been fine so far, last year my credit was getting too big, then they had a hiccup and did not take a monthly payment, I was still well in credit so things just carried on and by the end of my 12 month deal I owed them about £7! This year, because my new deal started in Feb, I was in debit almost immediately, but it took a few monthe for them to increase my DD - by 5%! Been in debit for the past few months (since we turned the CH off!) but should soon return to credit so will watch the next few months to see what happens. Have to watch though - 2 pensioners in a well insulated 4 bed detached, but DD is £157pm, electricity about £100pm of that, probably wife's useage of washing machine and dishwasher! Wonder what would happen if I tried to switch from a fixed deal to the standard variable capped tariff which, I believe, is capped at about £100pm!!

 

[optimusprime]

When i was young we had just two suppliers MEB , and British Gas , and thats how it should be now . so many clingons getting cash out of us .Get rid of the second man , bring back just two suppliers . The electric is coming from just one place,, and so is the gas .No body else is in the frame ,, they dont put anything extra in the gas to make it hotter , or make the electric last any longer . or put more power in to it to make out lighting any brighter . so stuff um .

 

[Darrell]

When i was young we had just two suppliers MEB , and British Gas , and thats how it should be now . so many clingons getting cash out of us .Get rid of the second man , bring back just two suppliers . The electric is coming from just one place,, and so is the gas .No body else is in the frame ,, they dont put anything extra in the gas to make it hotter , or make the electric last any longer . or put more power in to it to make out lighting any brighter . so stuff um .

I’d have thought that 2 suppliers isn’t good for healthy competition.

 

[190]

When i was young we had just two suppliers MEB , and British Gas , and thats how it should be now . so many clingons getting cash out of us .Get rid of the second man , bring back just two suppliers . The electric is coming from just one place,, and so is the gas .No body else is in the frame ,, they dont put anything extra in the gas to make it hotter , or make the electric last any longer . or put more power in to it to make out lighting any brighter . so stuff um .

I think the opposite - energy competition is a good thing. If there is anything wrong with competition it's that it's too easy for small energy companies to be set up without the financial backing to weather price fluctuations.

It's a mistake to think that the present problems are anything to do with energy companies. It's the supply strategy that's wrong with the mad race to renewables at the exclusion of anything else and also reliance on international interconnectors. Utter lunacy for Europe to be dependent on Russian gas as they will throttle the supply any time they like when it suits them which is what they are doing now. Then if if the wind doesn't blow were stuffed. Anyone noticed the wind isn't blowing much at the moment.

And they tell us there won't be a supply problem for EVs and heat pumps.