agent69
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Post by agent69 on Sept 20, 2021 17:52:08 GMT
There was an interesting report on Sky today.
Apparently the big energy firms hedge their prices by buying forward, whereas the small newer providers buy on the spot market. This allows them to offer lower prices in normal times, but their business model disintegrates as soon as there is a problem. Comes across as the same sort of short sighted business model that Northern Rock used.
Slow and steady wins the race.
Sky article hereThat "keep your fingers crossed" approach, as Greg Jackson, chief executive of Octopus Energy, today described it to Sky News, is a perfectly legitimate business model.
I think others might not agree
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aju
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Post by aju on Sept 22, 2021 14:07:55 GMT
So it looks like another one has bitten the dust in the last few hours. We are with avro and I did a quote on their website this morning looks like they wanted £174/month when our current contract is 117/mth and was expected to finish April 2022. Did a bit of digging around on MSE and all the sites seemed to be roughly similar monthly prices at the moment. Avro was not on there and has not been for some time. I tried again a few minutes ago, 15:00, to get the details for my spreadsheet and what do you know got this message on avro ... So now i guess we will have to wait and see where that takes us.
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archie
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Post by archie on Sept 22, 2021 14:11:21 GMT
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aju
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Post by aju on Sept 22, 2021 14:37:42 GMT
thanks i've been wading through the ofgem links from avro not got that far. I'm guessing our bills will go up immediately they have a supplier that will take us on. I had thought they would be taking on my contract but in the scheme of things that's not the case. Ok we can cover the costs but i wonder how many less fortunate people will be unable to cover the extra cost going forward. When watching the PM's questions today with the same old situation of the blues not answering and sniggering behind Mr Rabb when the Reds Ms Raynor was challenging them. Mr Sunak seemed particularly amused at times but i guess they will not be suffering quite so much as the many!. It is what it is i guess... Edit: Managed to get some details from their site but it now seems to have died - possibly too many of the 500,000+ customers trying to get their details too.
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archie
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Post by archie on Sept 22, 2021 14:51:22 GMT
thanks i've been wading through the ofgem links from avro not got that far. I'm guessing our bills will go up immediately they have a supplier that will take us on. I had thought they would be taking on my contract but in the scheme of things that's not the case. If an energy company takes over the customers of another, without the target company going bust, the contracts are honoured. Where Ofgem ask an energy company to take on the customers of a company that has gone bust the existing contracts are void.
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michaelc
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Post by michaelc on Sept 22, 2021 14:54:01 GMT
There was an interesting report on Sky today.
Apparently the big energy firms hedge their prices by buying forward, whereas the small newer providers buy on the spot market. This allows them to offer lower prices in normal times, but their business model disintegrates as soon as there is a problem. Comes across as the same sort of short sighted business model that Northern Rock used.
Slow and steady wins the race.
Absolutely right. Sell today/buy tomorrow. Great buisness model, until it isn't. Not just the business model of individual companies but the entire playing field is an artificial market. There's only one gas pipe coming into most properties and it can't be switched in and out like a BT cable can at the cabinet. So the infrastructure needs to be owned by one company and IMO that should be publicly run as why should any single private company be given the rights to mine it ?
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keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Sept 22, 2021 15:49:00 GMT
But at least we have some choice over Gas and Electricity, We have no choice with water
Just has a message from a friend on Avro, asking If I can get him a tariff that matches or is lower than he was paying at 13P kWh
on a quick look most are 50% higher than that
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james100
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Post by james100 on Sept 22, 2021 16:19:35 GMT
So it looks like another one has bitten the dust in the last few hours. We are with avro and I did a quote on their website this morning looks like they wanted £174/month when our current contract is 117/mth and was expected to finish April 2022. Did a bit of digging around on MSE and all the sites seemed to be roughly similar monthly prices at the moment. Avro was not on there and has not been for some time. I tried again a few minutes ago, 15:00, to get the details for my spreadsheet and what do you know got this message on avro ... So now i guess we will have to wait and see where that takes us. Avro was there a couple days ago...their fixed rate went up several hundred pounds pa over the past month. Looks like its the biggest one to go bust so far at 580,000 domestic customers (or 580,001 including me ). I'm due to renew in a month so they were proactive in sending rates through. Some really epic fixed rates out there at the moment and it's going to impact people on average household incomes enormously. Time to cancel the direct debit I guess.
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aju
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Post by aju on Sept 22, 2021 16:37:01 GMT
But at least we have some choice over Gas and Electricity, We have no choice with water Just has a message from a friend on Avro, asking If I can get him a tariff that matches or is lower than he was paying at 13P kWh on a quick look most are 50% higher than that Our last deal on Avro was 2.62p for gas kwh and 15.54p for electric inc vat. At the time the standing charge increased from 14.7p to 20.475p when we took it out in April 2021 and it wasn't cheaper than some others by about £20 for the year. We stayed with Avro because we had been there for almost 3 years without issue and were happy and working on the principle of 'better the devil you know'. Gas and electric was clearly increasing back in April as the new monthly payments were targeted at £128 (My spreadsheet numbers) although Avro kept it at £117 and we are currently in credit by just over £6. The sep bill was due in the next few days though so if they don't take it then i guess we are in red!.
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registerme
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Post by registerme on Sept 22, 2021 16:38:53 GMT
I'm with So Energy. I wonder how long they'll last?
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aju
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Post by aju on Sept 22, 2021 16:44:42 GMT
So it looks like another one has bitten the dust in the last few hours. We are with avro and I did a quote on their website this morning looks like they wanted £174/month when our current contract is 117/mth and was expected to finish April 2022. Did a bit of digging around on MSE and all the sites seemed to be roughly similar monthly prices at the moment. Avro was not on there and has not been for some time. I tried again a few minutes ago, 15:00, to get the details for my spreadsheet and what do you know got this message on avro ... So now i guess we will have to wait and see where that takes us. Avro was there a couple days ago...their fixed rate went up several hundred pounds pa over the past month. Looks like its the biggest one to go bust so far at 580,000 domestic customers (or 580,001 including me ). I'm due to renew in a month so they were proactive in sending rates through. Some really epic fixed rates out there at the moment and it's going to impact people on average household incomes enormously. Time to cancel the direct debit I guess. It went down earlier today, 22/9, as i said above it was ok in the morning but went off in the afternoon. at the moment one can login but I suspect its overloaded at present as its not giving the same data it was this morning!. I think there is am even bigger one than Avro, Bulb i think, but they are negotiating with the govt who in turn are playing hardball. I think they are also too big for the current players so there may be an almighty crash soon. More info here inews.co.uk/news/energy-provider-bulb-nationalised-government-scrambles-rescue-firm-supplies-1-7m-homes-1211216
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james100
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Post by james100 on Sept 22, 2021 16:52:39 GMT
I'm with So Energy. I wonder how long they'll last? Apparently ok.
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Balder
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Post by Balder on Sept 22, 2021 17:10:30 GMT
Wonder how long Symbio Energy will last. I am on a fix at 9.96p kwh so the longer the better!
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jontyab
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Post by jontyab on Sept 22, 2021 17:28:48 GMT
Wonder how long Symbio Energy will last. I am on a fix at 9.96p kwh so the longer the better! Went to look for a quote out of curiosity and they're not taking new applications! Not a great omen
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Balder
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Post by Balder on Sept 22, 2021 18:02:17 GMT
Wonder how long Symbio Energy will last. I am on a fix at 9.96p kwh so the longer the better! Went to look for a quote out of curiosity and they're not taking new applications! Not a great omen I just got a quote from SO Energy - 30p kwh!
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