Bulb - Finally going into Administration

Energize said:
Glad I switched provider just in time!
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we looked at switching a couple weeks ago, uswitch said not recommended and the cheapest was about £30/month more.

unless you went with neon reef or someone equally small which will probably go the same way.
 
Energize said:
Glad I switched provider just in time!
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Just in time for what?

OFGEM does such a cracking job, this should be somewhat irrelevant to people, even if you are a Customer. Your service is safe....... your credit balance is safe...... your direct debits will continue as normal....... even your tariff is safe (although TBC on what regulators are forced to do on this one).
 
Bouton Aide said:
1.7m customers. What on earth are they doing with the money?

Other energy providers will be happy. :)
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I'm not sure they will. Every energy provider is making a loss on every customer right now I reckon. I assume the governement are going to have to step in at some point. It hasn't even got to the coldest part of the winter yet.
 
Bouton Aide said:
1.7m customers. What on earth are they doing with the money?

Other energy providers will be happy. :)
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Wholesale prices have rocketed and their customers are on price locked plans.

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The sensible suppliers will have hedged the majority of their energy purchases 1 year ahead, but they won't want additional customers because that would mean increasing the wholesale energy they need to buy - which would be at the current inflated rate.

It's why some suppliers have set a **** off price on their tariff for new customers. They don't want your business.
 
Locky said:
So what happens to the credit I have with them?
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It’s protected. It takes many weeks to process. I was with Igloo - they went bust and transferred their customers to Eon Next. My balance (guessing) is around £200. Still no bill from Sept 18 (last time I submitted figures and statement was issued.) to Oct 2.

My balance hasn’t hit my EN account yet.
Take photos of your meter readings just in case.
 
Bouton Aide said:
Then the UK will await the next 5 energy companies to go bust.
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Plenty of them will be large enough to survive this but you can bet your shirt that they will want to recoup this money when wholesale costs come down. When the next price cap review is done the costs will shoot up and then everyone will complain when the costs remain high for a long time after wholesale costs have come down again as companies try to compensate.

In theory, any company willing to ignore those losses more than the rest could make an absolute killing when costs do come down.
 
dLockers said:
Just in time for what?

OFGEM does such a cracking job, this should be somewhat irrelevant to people, even if you are a Customer. Your service is safe....... your credit balance is safe...... your direct debits will continue as normal....... even your tariff is safe (although TBC on what regulators are forced to do on this one).
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I've just moved into a new electric only property so the new tariff is lower and I don't have any credit with Bulb.

My past experience is that the company becomes very difficult to contact regarding any issues with the initial bills if they go under, despite ofgem.
 
I'm with Bulb and I think energy along with water should be nationalised. Why should fat cats profit from essential services like these.
 
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