Energy suppliers

[Deleted member 21784]

Yep. Last I heard they weren't in the EU. Anyone blaming us leaving the EU for the rise in prices needs their head read.

Maybe if we had still been involved relations wouldn't be so stretched... Blocking their pipe line to stop them having more power..

Well we get no say in anything now so we just get the brunt of it all

 

[williamalex1]

? Sorry. ?
If it's any consolation I have no idea how our lights are still on. Pure Planet folded ages ago and I've basically heard nowt since.

I'm sure you'll get a very large bill shortly , big brother is watching you.

 

[HowlingGale]

Maybe if we had still been involved relations wouldn't be so stretched... Blocking their pipe line to stop them having more power..

Well we get no say in anything now so we just get the brunt of it all

But it's a global energy crisis affecting those not in the EU as well. Not sure how we could have smoothed relations whether we're in or out of Europe. It's just a convenient excuse to shove everything at Brexit's door. Russia pretty much hold all the cards anyway, and they hate us so go figure.

 

[PhilTheFragger]

Political posts will be binned and their authors infracted,

You all know the rules on this by now so no excuses, if an infraction takes a poster over the ban limit, then the system will automatically ban them.

 

[Biggleswade Blue]

I’m still waiting to hear anything from British Gas who took over my People’s Energy account. No payments made to them, no details of tariff, though they did ask for a meter reading 6 weeks ago.

 

[Hobbit]

Energy prices here in Spain had risen by 44% this year, through to mid Oct and there’s another rise due imminently. Add to that, that there are 3 price bands depending on time of day and weekday/weekends. Running the washer at midnight or on a weekend is the cheapest time. Run it midday through the week will see the price almost double.

 

[SwingsitlikeHogan]

Bulb has essentially been temporarily nationalised. How long before the whole power industry tells government that it cannot operate within the constraints of the price caps that government applies to make power affordable to you and I - and the cost to them of gas and generation of electricity. Without massive government subsidy that is - and then we are in effect funding shareholder return - many of whom are non-UK businesses, and some of these being non-UK government owned.

 

[larmen]

I’m still waiting to hear anything from British Gas who took over my People’s Energy account. No payments made to them, no details of tariff, though they did ask for a meter reading 6 weeks ago.

Does your direct debit still go out? Where does it go to if it does?

I think as a bulb customer I probably have it a little easier than one of those of smaller suppliers that gone bust before.

 

[larmen]

Bulb has essentially been temporarily nationalised. How long before the whole power industry tells government that it cannot operate within the constraints of the price caps that government applies to make power affordable to you and I - and the cost to them of gas and generation of electricity. Without massive government subsidy that is - and then we are in effect funding shareholder return - many of whom are non-UK businesses, and some of these being non-UK government owned.

Makes me think, what would the fair market price of energy actually be?
Petrol seems to have itself stabilised at about 17p higher than a couple of months ago, about a 12% adjustment. Can this be applied?

 

[rulefan]

Bulb is a bit different. It is being run by an administrator and payments are in bulb's books until Ofgem decides on how to allocate their customers around the big boys.. The others have been absorbed by one of the big boys and all payments in effect go to the takeover company.
I was moved to Octopus and my direct debit has been switched to them at the same rate. Although I had the option of increasing it, I didn't because I had built up a decent surplus over the summer. My first payment has just been taken by Octopus.

 

[jim8flog]

BULB now no longer.

As per Rulefan

From the news last night this is not correct

They are going in to a special form of administration which will allow them to continue to trade.

It is thought they have too many customers for what happens currently to work for them.

 

[cliveb]

Bulb is a bit different. It is being run by an administrator and payments are in bulb's books until Ofgem decides on how to allocate their customers around the big boys.

Yes. Bulb is too big (7th biggest after the "big six") to just move everyone to another supplier.
I got an email from Bulb this morning telling me they've gone into "special administration", so I decided to log in and take a precautionary screen shot of the credit balance on my account (currently nearly £800 in credit).
Interestingly, when I went to that page, it said I could reduce my monthly payment from £163.70 to £68.50 (!), so that got done straight away.
Nice of them not to have let me know when sending the monthly statements.
I will now sit tight and await developments.

 

[road2ruin]

Yes. Bulb is too big (7th biggest after the "big six") to just move everyone to another supplier.
I got an email from Bulb this morning telling me they've gone into "special administration", so I decided to log in and take a precautionary screen shot of the credit balance on my account (currently nearly £800 in credit).
Interestingly, when I went to that page, it said I could reduce my monthly payment from £163.70 to £68.50 (!), so that got done straight away.
Nice of them not to have let me know when sending the monthly statements.
I will now sit tight and await developments.

We did the same actually, currently pay £210 per month and have £500 in credit. Didn't get quite the same offer to reduce but have done so to £150pm and will start using up some of the credit whilst we see what happens in the coming months.

 

[road2ruin]

I just spoken to Bulb as we paid £120 to have the tails in our electric box upgraded for the arrival of an EV in February. I wanted to know whether the appointment would be kept (mid Jan) and the guy I spoke to said that, as things stand, it was business as usual and they're booking in appointments for January/February with the only thing having changed is that they are now under Government control.

 

[Oddsocks]

The current cap (for October 2021 to April 2022) is 21 per KwH for electricity and 4p per kWh for gas.

Not sure if that helps you but that's the highest they can charge you if you ride this out

I cannot echo this enough as highlighted in post #21. If you are out on contract your rates are capped by the regulating bodies so don’t rush to sign up to a new contract. You are far better sitting on a capped out of contract rate at present.

The issue will come when people transfer properties and are forced to sign new contracts.

All info is via a broker for commercial power and energy comparison sites such as money supermarket etc.

 

[need_my_wedge]

My fixed price tariff ends this month (British Gas). I've just had an email informing me that the like for like fixed tariff that I can switch to, effectively doubles my payment . However, if I don't switch, it will move to the standard tariff, which is currently not much more than the fixed tariff I was on. The proviso being that the cap will be reviewed this month and the standard rate will likely rise too. Looking around, the fixed rate plans being offered by other companies don't offer much saving, neither do the standard rates. The only thing in my favour, is that the market prices have been dropping a bit lately, with the wholesale prices falling last month due to the milder weather.

I need to decide whether to switch to a really exhorbitant fixed rate plan now, or hold on the standard rate until the next Ofgem review in the hope that the wholesale prices continue to fall in the interim.

 

[road2ruin]

My fixed price tariff ends this month (British Gas). I've just had an email informing me that the like for like fixed tariff that I can switch to, effectively doubles my payment . However, if I don't switch, it will move to the standard tariff, which is currently not much more than the fixed tariff I was on. The proviso being that the cap will be reviewed this month and the standard rate will likely rise too. Looking around, the fixed rate plans being offered by other companies don't offer much saving, neither do the standard rates. The only thing in my favour, is that the market prices have been dropping a bit lately, with the wholesale prices falling last month due to the milder weather.

I need to decide whether to switch to a really exhorbitant fixed rate plan now, or hold on the standard rate until the next Ofgem review in the hope that the wholesale prices continue to fall in the interim.

I think (although you might want to have a Google for yourself) that Martin Lewis was advising to 1) not to switch and 2) if your fixed tariff was coming to an end just let it switch to the variable as it was almost certainly going to be cheaper than any other fixed tariff being offered. I would be tempted to just let your tariff lapse and see how the payments go. As you say, hopefully in a couple of months we can turn off the heating and you can buy yourself some time in terms of deciding what to do.

 

[Deleted member 21784]

My fixed price tariff ends this month (British Gas). I've just had an email informing me that the like for like fixed tariff that I can switch to, effectively doubles my payment . However, if I don't switch, it will move to the standard tariff, which is currently not much more than the fixed tariff I was on. The proviso being that the cap will be reviewed this month and the standard rate will likely rise too. Looking around, the fixed rate plans being offered by other companies don't offer much saving, neither do the standard rates. The only thing in my favour, is that the market prices have been dropping a bit lately, with the wholesale prices falling last month due to the milder weather.

I need to decide whether to switch to a really exhorbitant fixed rate plan now, or hold on the standard rate until the next Ofgem review in the hope that the wholesale prices continue to fall in the interim.

I left my gas tariff and it just went up to 4p instead of the 7-10p i was offered on a fix

electric is up next month, ive read a few stories that if I do nothing I auto get fixed again for another year on the same price as now.. happened to at least 20 customers on the page im on .. however if you change anything Ie your cheap hours start time etc etc you get put on the new rates which are double during the day

 

[chellie]

I think (although you might want to have a Google for yourself) that Martin Lewis was advising to 1) not to switch and 2) if your fixed tariff was coming to an end just let it switch to the variable as it was almost certainly going to be cheaper than any other fixed tariff being offered. I would be tempted to just let your tariff lapse and see how the payments go. As you say, hopefully in a couple of months we can turn off the heating and you can buy yourself some time in terms of deciding what to do.

Yep, that's what he'd advised.

Our BGas tariff ends this month as well.

 

[SwingsitlikeHogan]

I pay about £110/month on my current fixed rate dual fuel deal with British Gas. The deal end 26th Jan at which point I will go onto their Standard Rate (whatever that might mean or cost they don’t say).

Meanwhile they are trying to get me to sign up for their current best deal dual fuel fixed rate - they estimate that would cost me £3081/year. That’s just INSANE.

I’m not biting…I’ll risk the standard rate as that will be capped…but god only knows how the poorest will be able to afford increases anything like that…bottom line is that they wont be able to afford it. What to do…

The best indicator of a civilised and caring society is how well it looks after it’s poorest and most vulnerable. Well I suggest that if it is mooted by the gov that taxes may have to rise; scope and reach of power benefits are extended, or such as UC levels increased to subsidise power for the poorest, we are about to see how caring we are as a society.