Worth noting that the Octopus time of day tariffs are experimental and so not included in the price comparison sites. I am Go! tariff with 5p for 4 hours at night and 13p in the day. Only available with a smart meter.
Worth noting that the Octopus time of day tariffs are experimental and so not included in the price comparison sites. I am Go! tariff with 5p for 4 hours at night and 13p in the day. Only available with a smart meter.
At present we are in credit and with the winter period coming we are in super green so i am happy with there fixed contract .
I am afraid there are practically no new ones coming up, and almost all are linked to the price cap. Octopus are just below it but not sure of any others. Basically the companies are not really after your business as with the current price cap they are losing money.otherclive with us on a smart meter they give us prices if you can get your son to keep searching on energy prices there is always new ones coming up and i hope he gets one very reasonable for his budget
There's not a lot you can do about gas prices. If you do find a cheaper supplier, odds are that before long their rates will increase, so the savings are not going to be as big as they suggested.
Yes it will have knock on effect across electricity as a proportion of our generators use gas.
One of the solutions to to reduce our dependence on NG is to invest in renewables but at the same time local grid storage facilities so at time when renewables are producing excess power it can be stored and used to supplement or take over when other fuels are too expensive.
It of course needs Government support and initiatives, but if it became mandatory that every new house or refurbishment must be fitted with a battery as well as vastly improved thermal insulation power demands could more easily be met.
Yes it will have knock on effect across electricity as a proportion of our generators use gas.
One of the solutions to to reduce our dependence on NG is to invest in renewables but at the same time local grid storage facilities so at time when renewables are producing excess power it can be stored and used to supplement or take over when other fuels are too expensive.
It of course needs Government support and initiatives, but if it became mandatory that every new house or refurbishment must be fitted with a battery as well as vastly improved thermal insulation power demands could more easily be met.
You will not be in contract with the new supplier and can leave them straight away once you have been transferred across. When our supplier went bust it took about three months before we could transfer however we remained on our original rate. We went to EDF and have now transferred to Bristol Energy.My supplier has joined the long list of suppliers that have gone bust, so any savings I was making have now gone. Waiting to hear which supplier I will now be paying
Bristol Energy have cost the council tax payers a shed load of money and there are calls for the council to be investigated. Since they were sold by Bristol Council they have eventually seem to have been passed on to Warrington Council. I really cannot understand councils entering into such business areas when the risks are to the council tax payers as well as customers lured into them by thinking “ it’s okay it’s run by the council”
Bristol Energy - Wikipedia
en.wikipedia.org
If their prices are reasonable and there is no Exit fee if you want to terminate early then there really is not a problem.Bristol Energy have cost the council tax payers a shed load of money and there are calls for the council to be investigated. Since they were sold by Bristol Council they have eventually seem to have been passed on to Warrington Council. I really cannot understand councils entering into such business areas when the risks are to the council tax payers as well as customers lured into them by thinking “ it’s okay it’s run by the council”
Bristol Energy - Wikipedia
Unfortunately their customer service side leaves a lot to be desired plus they only issue a bill every 3 months. Although your account is debited monthly, I would still prefer a monthly bill.
Sure, but I won't be on a discounted rate with anyone now and doubt there will be any good deals to be had for a long while
I agree. No one will take over your supply now at the existing rate, they will charge their current rate and just about all others are charging the same so changing again is almost certainly pointless.
A report that a major firm specialising in being Supplier of last resort has been put on standby by HMG amid warnings that a major supplier may be in difficulty. Also the big companies are investigating legal action to see if they are legally bound to accept customers at a loss from a failed supplier. Things look quite serious in the sector would help if wholesale gas prices were to ease.
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I think they are obliged to keep you at the same rate for a fixed time although you are not in contract with them. We were kept on the same rate until we changed although the tariffs at EDF were higher for others. The old supplier would have bought the energy at the lower price and normally it is the supplier from whom they bought that you are transferred across to. Not sure about now due to huge increases?
We were with the now bust peoples energy-12 p a unit-moved to BG-no equal price-we're now on their fixed till april at well over 20p a unit-needless to say we're moving-Octopus Go or a cheaper fixed all day tariff with Neon Reef around 17p unit as at the mo we have no smart meter!Deep joy.
Smart meters and the small one they give you so you can see what is being used etc, however I had it by my PC and use to take occasional glance at it and often would call, out to my wife the reading and then duck , Have not a clue what happened to it .
If your supplier fails and your account has been allotted to another supplier that means you are now contracted to the new supplier. It may be a temporary contract, but it is a contract.
If there was no contract they would not be able to bill you, and you would not be obliged to pay.
And , I understand, when you get moved , automatically, you will be bound by the new providers rates, not what you enjoyed before. But you can go elsewhere with no penalty.
There will not be any contract between you and the new supplier, but most new suppliers will honour your tariff for a short while. More than likely they have probably also bought the debt and alss the units bought by the old supplier at a lower price. If you have no contract they can still bill you no problem at "out of contract" rates. I worked in the utilities field for many years.
Not necessary depends on who takes over as they get the units at the lower rate from the previous supplier.
I’m no expert but the broad sheets yesterday say different😥😥
”
The customer transfer system is also leading to higher bills for households whose accounts are transferred.
A report by Citizens Advice, published on Thursday, found that consumers who are moved to a new supplier typically pay £30 a month more than before.”
I do hope you are correct👍
Unusual as the new supplier would want to keep that customer. When the old supplier was operational they would have bought energy in advance at a lower rate than present and this could have been up to a maximum of 5 years.
Generally they buy at least 2 years in advance. When the old supplier goes bust these "cheaper" units of energy are taken over by the new supplier who has been allotted by Ofgem. More than likely it is because that old supplier owes a debt to the supplier selected by Ofgem.
As mentioned before the energy supply market is very complex and is it is reasonably easy for one of the big six to force a small supplier out of business. Also the banks play a big part as they advance money to the the small supplier and if they think things are going pear shape they pull the plug.
Don't be surprised if in six months time the only suppliers left are the big six and then they can force up the prices even more to generate more profit for shareholders.
I find it unusual that the newly selected larger supplier who is loosing money on many of their customer contracts would willingly want to take on more loss making customers from a company that has folded. I know there’s a levy that is paid by every consumer which is used to ease the transfer from a failed supplier to a new supplier.
Is it the same for gas as for electric supply?
Below is a statement from an interview with CEO of gem when Green collapsed:
“If an energy firm collapses, customers are automatically switched to a tariff provided by the new supplier. This is a tariff agreed with the regulator Ofgem, but it may well be more expensive than the deal they had with the former company which went bust.”
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I can categorically state they don't honour your previous rate. They may while they switch you but once with them they put you on their rate. So pfp went bust 12.4p unit. We are moved yesterday to their fixed rate, British gas .20p unit.
Show me any utility company that will willingly supply a service or goods where there is no contract in place.
The reason that a contract does exist, is that every supplier has to include clauses in the consumers contact they make with a customer a provision that in the event of the business being transferred to a new company ( either by "buy out" or as we have recently seen bankruptcy) the original contract will cease but a new contract will be created when the transfer occurs to the buyer or the company appointed by Government. It has something to do with right of continuation of essential services.
This happened to me a few months ago when my large provider was bought out by another company before the gas price problems.
Please lets not get into an argument regarding contracts as I know that for once I am 100% correct. When you move into a new home you are not in contract with the supplier to that home although you are obliged to pay for any consumption while using the premises.
When you rent a shop to start a new business you are not in contract with the supplier to those premises. When your current contract ends with a supplier you are under no obligation to renew it with that supplier and it could be weeks before you find another supplier. Every day there are probably thousands maybe even millions of people who are not in contract to the supplier to their premises. They simply pay "out of contract" rates.
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Maybe I am misunderstanding, but I am not sure why the newly selected larger supplier would be loosing money of many of their current customer contracts as the energy may have been bought a year or more ago when prices were lower? Except for defaulters the customers are not loss making and are again.
My guess is that energy companies go under because they can no longer service their debts. They operate on a very fine profit margin based on the belief that all their customers will be paying on time by DD.
If you get a number of customers defaulting, the energy company cannot pay its creditors and if it cannot pay its creditors it cannot buy more energy as no money in the kitty. Also it does not help when the Big Six push up the prices of the energy they are buying making it difficult for a smaller supplier to buy energy anyway.
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