Energy Suppliers (strictly no referrals)

Caporegime
Joined
13 Jan 2010
Posts
25,488
Location
Llaneirwg
I was reading the news on BBC red button this morning and it looks like another four of the small energy providers are going to cease trading this week, see here. My current deal is coming to a end at the end of October and all I am seeing is massive price rises, gas at double the price or higher than what I am currently paying. Just in time for winter!!

I've gone for a 3 year lock in with no fees. So if things go down I can switch again.
Plus get a chunk of cashback for this one.

Couldn't risk staying on variable any longer
 
Soldato
Joined
20 Aug 2006
Posts
9,354
Not sure what to do with mine currently fixed with EON till end of March

Offering 12 month fixed at 20p for electricity and 3.85p for gas which works out about 10 a month more than currently paying as paying 17

Not sure whether to refix as not too much more and could get worse but then have winter at higher new rate or wait till march and potentiay.bigger jump

Currently on 18.5 elec and 3.2 gas

The latest offer from EON from comparing rates mentionned in posts on here seems quite good
 
Soldato
Joined
20 Sep 2005
Posts
18,008
Location
West End, Southampton
Terrible increases here too, just had notification that our unit rate will be rising from ~12.9p/unit to 16.4p.

The crazy thing is that I cannot find anything better either, just a company called neon reef also at 16.4p. It doesn’t seem long ago that we were at around 10-11p.

Will this get to a point where it’ll be cheaper to just generate your own with gasoil? Be amusing to work that out :p

Apparently Neon Reef are run by the same people that ran Utility Point, who went under last week. Watch out there!
 
Soldato
Joined
17 Mar 2009
Posts
5,733
Location
Nottingham
I'ld lock in at that. Gas wholesale prices have nearly doubled this year and when gas goes up so do the costs for gas fired power stations and therefore electric prices too. Given prices are going mental and we arent even into winter yet, i hatr to think what will hapoen if we have a cold winter.
 
Associate
Joined
24 Jun 2021
Posts
1,100
Location
UK
People are probably going to have to start being sensible. Drink water instead of tea. Turn thermostats down. Don't leave the tv on all the time. etc.
 
Soldato
Joined
15 Aug 2005
Posts
22,269
Location
Glasgow
People are probably going to have to start being sensible. Drink water instead of tea. Turn thermostats down. Don't leave the tv on all the time. etc.

Thermostats, immersion heaters and general wasting of energy yes, but I don't think many people will be at the point of having to have a glass of water instead of a cup of tea. A kettle costs hardly anything to run.
 
Soldato
Joined
19 Mar 2012
Posts
5,742
Bugger; I was involved in the project bringing in and the first upgrade on SAP for one of the biggest firms; it was crap back then and I bet its barely any better now

I deal with most of the energy companies in my current role and some of the big ones in my previous role.

None of them have got a clue what is going on still, the fragmentation of the market hasn't really helped, you'll know how complex some of the back end stuff is and those smaller companies just dont have the expertise available.

Plus with the Smart roll out being slow, there are still quite a few areas where economies of scale impact on the costs of running a portfolio of customers.
 

Jez

Jez

Caporegime
Joined
18 Oct 2002
Posts
33,075
Apparently Neon Reef are run by the same people that ran Utility Point, who went under last week. Watch out there!
Yeah I saw that mentioned elsewhere on here, shame as they are offering a comparatively ok (still seems awful to me) rate of 16.498/kWh/ 17p/day standing fixed for 12mo.

Maybe worth the risk of any transfer if they do go under as I am sure that everyone else will go up beyond this anyway.
 
Associate
Joined
4 Oct 2009
Posts
688
Energy price increases will be the least of people's worries.
The BOE are going to have their hands forced by the markets soon enough meaning significant interest rate increases with plenty of home repossessions to follow.
 
Caporegime
Joined
12 Mar 2004
Posts
29,789
Location
England
This could largely have been avoided with nuclear power, the money we are spending on HS2 would pay for enough nuclear power stations to totally replace fossil fuels for electricity generation in the UK, nuclear power provides a predictable stable cost of electricity that avoids these wild fluctuations in prices for the consumer and provides market stability.
 
Soldato
Joined
29 Jul 2011
Posts
15,330
Location
Near Northants / MK
Our tarrif ends this December, currently paying around £100 p/m for gas only, not looking forward to new tarrif!

(Property type, large 1800s built, no insulation in walls as it's stone built)
 
Associate
Joined
8 Sep 2020
Posts
95
Tried to initiate a switch but our new potential supplier doesn't recognise that we have a gas supply/meter. :rolleyes: The property is 16 years old.
 
Associate
Joined
11 Feb 2010
Posts
1,882
Location
England
Deary me just ran our usage through a couple of sites and looking at an £80 per month hike come January time, that's if things don't get worse between now and then which they likely will...
 
Associate
Joined
30 Sep 2008
Posts
1,515
I was reading the news on BBC red button this morning and it looks like another four of the small energy providers are going to cease trading this week, see here. My current deal is coming to a end at the end of October and all I am seeing is massive price rises, gas at double the price or higher than what I am currently paying. Just in time for winter!!

Never again will I use these small companies. Got burned few years back when the same thing happened. Extra Energy plus a ton more all went bust, accept the owner of EE wouldn't cooperate with Gov (doing a Prince Andrew I guess), and therefore took the best part of a year to get my money back, once Scottish Power got access to my records.

These smaller companies are just playing a short term game, with no interest in sticking around for the long run. The owners don't put up the money when wholesale prices go up, dont have liquidity to ride out the wave but just go bankrupt.
 
Soldato
Joined
6 Oct 2004
Posts
15,884
Location
Birmingham
This could largely have been avoided with nuclear power, the money we are spending on HS2 would pay for enough nuclear power stations to totally replace fossil fuels for electricity generation in the UK, nuclear power provides a predictable stable cost of electricity that avoids these wild fluctuations in prices for the consumer and provides market stability.

Yeah, but herp derp Chernobyl, herp derp nuclear bad :rolleyes:
 
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