Energy companies in trouble - good

[optimusprime]

It would be fine ,,it was back then ..Needs the government to keep a check on their prices . and cap them ..This will cause all sorts of problems now .As people will start --like they always do to stock pile food and everything .

 

[Dippo]

For all the Avro customers posting here, I understand they've just gone.

 

[Fastcar155]

For all the Avro customers posting here, I understand they've just gone.

Hi , any business failure is a great shame.However , Government interference in caps gas pricing when the wholesale cost of gas has gone through the roof the failure of these business cannot be surprising.

I ran a major commercial vehicle manufacture and the Nation Freight Corporation demanded that we quoted on a fixed price basis for the supply of trailer systems.

I declined to accept these terms because for me they were commercial suicide.

I shut the business a few years later but the upshot is now the UK does not produce these types of systems and is totally dependant of imported systems.

I spoke to my local MP who had no grasp of business and explained the supply / demand let alone the UK having to be dependent upon the EU producers to produce key transport products.

The UK must either nationalise the total energy sector or allow market trends to take over and destroy our energy supply.

 

[GeeJayW]

For all the Avro customers posting here, I understand they've just gone.

We are/were with Avro.

Will just have to see what happens next.

 

[grober]

Names such as Energy "providers" energy "suppliers" gives the impression they supply energy from raw material - they don't it's the big boys do that. They just resell it . One reason for European gas prices rising is due to Vladimir Putin reducing gas exports to Europe. He wants the Nord_stream 2 pipeline to be used to supply Germany instead of routing Russian gas through the Ukraine and other eastern block countries and them being paid handsomely for the transit in the process
Nord Stream - Wikipedia

 

[Deleted member 159894]

Names such as Energy "providers" energy "suppliers" gives the impression they supply energy from raw material - they don't it's the big boys do that. They just resell it . One reason for European gas prices rising is due to Vladimir Putin reducing gas exports to Europe. He wants the Nord_stream 2 pipeline to be used to supply Germany instead of routing Russian gas through the Ukraine and other eastern block countries and them being paid handsomely for the transit in the process
Nord Stream - Wikipedia

I covered this in my OP, there were energy firms being run out of back bedrooms.

 

[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.

Looks like I spoke too soon. No doubt because I've already pulled the trigger on the switch, I'll fall between the cracks and get stuck on some super tariff for an inconceivable length of time, get royally stuffed, and 'there will be nothing we can do sir, it's literally impossible!" when I try to get it sorted.
The only saving grace is I owe a few hundred to Avro at the moment, not the other way around.

 

[Chrishazle]

I'm one who spoke too soon about Avro - got the news on the TV at 5 this evening so immediately read and (on my spreadsheet) recorded the readings, thankfully I'd submitted my monthly readings on statement day 20th and next DD is not due to be taken until 10th - and from what I see from today's readings they will owe me a fiver or so. Not sure whether I should call my bank and cancel the DD, don't want them taking another £157 on 10th October!

Also concerned about what happens next. Emailed Avro and got a standard useless reply, looked at how the cap is calculated and OUCH! 2 pensioners in a 4 bed detached, 17.5k MW gas and 7250Kw elec a year, last year's fixed deal at £120pm became £157pm in Feb 2021, what's it going to go to now?? And the buggers want to bin the triple pension lock as well!!

 

[Doodle]

In Avro's case it was jumping before they were pushed. Ofgem were in the process of pulling the plug on them for failure to adhere to licensing regulations.

 

[Skd884]

We are/were with Avro.

Will just have to see what happens next.

Ofgem will move you to another provider, possibly BG then you can stick with them or switch elsewhere penalty free.

 

[markjay]

It's easy to blame the Ofgen price capping.

And yet some firms went bust, while others didn't.

Perhaps those who went bust, simply got it wrong?

 

[Dryce]

Perhaps those who went bust, simply got it wrong?

Well one would assume that if you retail energy on a fixed price tariff that you have secured a matching supply at a wholesale price.

So what on earth were these busted energy companies doing ? They seemed to have had an unprotected exposure to price changes.

Naivety? Incompetence ? Or was there was a bit of a casino going on behind the scenes.

 

[markjay]

Well one would assume that if you retail energy on a fixed price tariff that you have secured a matching supply at a wholesale price.

So what on earth were these busted energy companies doing ? They seemed to have had an unprotected exposure to price changes.

Naivety? Incompetence ? Or was there was a bit of a casino going on behind the scenes.

I'm guessing they took a punt on (then) cheap unprotected buying prices... and lost.

It's a bit like selling our gold - another punt that didn't pay-off.

 

[Dickster]

The energy industry has to be in a complete mess for this to happen. And if there wasn’t price capping how much would we be paying now? Our bills have doubled in ten years.

I read recently part of the issue has been a lack of energy produced by our wind farms
- lack of wind over the past year, and we’ve been importing electric from France - ffs!

Avro went bust owing us £700 but apparently the new supplier has to give us the credit..

 

[merc07]

last year's fixed deal at £120pm became £157pm in Feb 2021, what's it going to go to now??

It's certainly not looking good...
I just checked when my 2yr fixed runs out, Feb22 (with British Gas)
Their new fixed 2 year deal sees a rise from 3.2p to 6.7p for gas and 16.7p to 26.5p for electric.!

Thats a rise from £77 to £144 a month

 

[vijilants]

Green Energy also went under yestterday

 

[Chrishazle]

I'm thinking it will be worth ditching a fixed deal and going back to a standard variable deal where the maximum "per unit" prices they can charge are capped by Ofgem. Found out yesterday that the "price cap" where the media quote an annual cost is not actually how the cap works, the cap actually sets the maximum per unit cost (and the per day standing charge) that suppliers can charge. I haven't yet found the current cap unit charge, but I think the previous 6 months it was 3.7p/kwh for gas and 19.57p/kwh for elec.

 

[JHS]

I'm thinking it will be worth ditching a fixed deal and going back to a standard variable deal where the maximum "per unit" prices they can charge are capped by Ofgem. Found out yesterday that the "price cap" where the media quote an annual cost is not actually how the cap works, the cap actually sets the maximum per unit cost (and the per day standing charge) that suppliers can charge. I haven't yet found the current cap unit charge, but I think the previous 6 months it was 3.7p/kwh for gas and 19.57p/kwh for elec.

BG as from 1/10/21 Variable price cap tariffs GAS

Supply : ​	​	​	​
Payment method : ​	Direct Debit​	Cash cheque​	Pay As You Go EnergyTM​
​	​	​	​	​
​	Standing Charge​	Unit Rate​	Standing Charge​	Unit Rate​	Standing Charge​	Unit Rate​
Supply area​	pence per day​	pence per kWh​	pence per day​	pence per kWh​	pence per day​	pence per kWh​
​	​	​	​	​	​	​
Eastern​	26.123​	4.056​	30.783​	4.272​	0.000​	0.000​
East Midlands​	26.123​	3.987​	30.783​	4.200​	0.000​	0.000​
London Electricity​	26.123​	4.187​	30.783​	4.410​	0.000​	0.000​
ManWeb​	26.123​	4.066​	30.783​	4.282​	0.000​	0.000​
Midlands​	26.123​	4.047​	30.783​	4.262​	0.000​	0.000​
Northern​	26.123​	3.955​	30.783​	4.166​	0.000​	0.000​
Norweb​	26.123​	4.043​	30.783​	4.259​	0.000​	0.000​
Scottish Hydro Electric​	26.123​	4.010​	30.783​	4.225​	0.000​	0.000​
ScottishPower​	26.123​	4.010​	30.783​	4.225​	0.000​	0.000​
Seeboard​	26.123​	4.053​	30.783​	4.270​	0.000​	0.000​
Southern Electric​	26.123​	4.169​	30.783​	4.391​	0.000​	0.000​
SWALEC​	26.123​	4.174​	30.783​	4.397​	0.000​	0.000​
SWEB​	26.123​	4.197​	30.783​	4.421​	0.000​	0.000​
Yorkshire​	26.123​	3.983​	30.783​	4.195​	0.000​	0.000​
*All prices include VAT and are rounded to make it easier for you to compare prices. The prices you’ll see on your bills and statements will be different because we show them without VAT.​	​

Electric

Supply : ​	Single Rate​	Single Rate​	Single Rate​
Payment method : ​	Direct Debit​	Cash Cheque​	Pay As You Go EnergyTM​
​	​	​	​
​	Standing Charge​	Unit Rate​	Standing Charge​	Unit Rate​	Standing charge​	Unit Rate​
Supply area​	pence per day​	pence per kWh​	pence per day​	pence per kWh​	pence per day​	pence per kWh​
​	​	​	​	​	​	​
Eastern​	24.017​	20.871​	28.586​	21.985​	0.000​	0.000​
East Midlands​	23.770​	20.317​	28.327​	21.401​	0.000​	0.000​
London Electricity​	23.307​	20.773​	27.838​	21.881​	0.000​	0.000​
ManWeb​	23.499​	21.996​	28.042​	23.171​	0.000​	0.000​
Midlands​	25.093​	20.592​	29.720​	21.691​	0.000​	0.000​
Northern​	26.460​	20.208​	31.160​	21.286​	0.000​	0.000​
Norweb​	24.383​	20.141​	28.971​	21.216​	0.000​	0.000​
Scottish Hydro Electric​	27.395​	20.835​	32.147​	21.947​	0.000​	0.000​
ScottishPower​	24.867​	20.391​	29.483​	21.479​	0.000​	0.000​
Seeboard​	24.038​	21.557​	28.609​	22.709​	0.000​	0.000​
Southern Electric​	24.113​	20.680​	28.690​	21.784​	0.000​	0.000​
SWALEC​	24.867​	21.180​	29.483​	22.311​	0.000​	0.000​
SWEB​	25.664​	21.607​	30.320​	22.761​	0.000​	0.000​
Yorkshire​	26.825​	20.076​	31.546​	21.147​	0.000​	0.000​

 

[Gollom]

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!!

£157pm? That seems wildly expensive = we have a 3 bedroom semi and pay £75 per month (Octopus). Even allowing for the fact that we use Nest so turn things off when we are at our caravan (probably 5 weekends out of 8) it still seems high? No dishwasher however - that is my job! LOL

 

[Bellow]

But if you are an American owned fertiliser company you can have UK taxpayers pay your gas bill to the tune of “many million, possibly tens of millions”,.

Why is the UK bailing out US CO2 supplier CF Fertilisers?

Ministers try to avert supermarket shortages through emergency deal that will cost taxpayer ‘millions’

www.theguardian.com