So if youāre currently about to change your provider or tariff then donāt unless you want to see your pocked mugged.
I did some quotes and from the cheapest providers I am at a loss of - Ā£450 a year this is me already on the higher tarriff as this changed on the 6th of Aug and mine changed recently from the 18th. Their asking for almost double what I used to be on and others on the politics form tried it with me and they also see double the price from what their on.
This along with factories closing, lack of co2, food shortages, scares mmm I see the uk100 maybe taking a tumble ahhhh
You guys should take a look itās crazy, 3 utility companies have already went bust, Bulb is seeking money to stay afloat.
When I use money supermarket it gives me providers I have never even heard of. When I tried SSEs website they said their tarriff section is down which it isnāt they just donāt have the numbers set yet as they will be looking at the rivals.
I wonder how Mondays shares for utlitys will shake up the market?
Ps. Late night rant kind of seeing double as Iām so tired sorry for the spelling etc but yeah. Great topic at the moment.
"Will my energy supplier go bust?
If it is a small operator, then it is very possible. Energy experts at Barina Partners have said there may only be 10 suppliers left by the end of the winter, from 70 at the start of the year.
Five suppliers have collapsed in the last five weeks, leaving more than half a million customers needing a new energy supplier. The industry expects another four suppliers to go bust before the end of the month, and scores more to follow through the winter. "
If your provider goes bust, you get the new providerās flex tariff and can switch anytime if you want. My provider went bust this january and EDF handled the transition really easy and well.
Glad we fixed for 2 years earlier this year and our company seems fairly well capitalised.
Iām amazed that this is causing companies to go under though, if your business is basically selling commodities futures at a fixed price then surely hedging risk though some kind of derivative is a pretty foundational part of your company and not a nice to have.
While energy supplies for existing customers have largely been hedged in the futures market by the largest energy companies, allowing them to remain profitable, this is not possible in relation to new customers as they have not been able to plan ahead for how much gas and electricity they will need to buy from the wholesale market.
I donāt get how you can take on new customers with uncapped risk, that just doesnāt make sense. Clearly Iām missing some important information but the articles donāt really explain it - I guess itās the intersection of the last-resort suppliers and the price caps, which again just seems weird.
Iām bored of this. And of privatised railways/trains. And privatised water. So, so bored. This will be the second time Iāve āplayed the gameā of Pick An Energy Supplier and the company has gone under.
HOOVES OF DOOM 