Energy Suppliers

chrcoluk said:
If all you worried about is the DD, then fixed doesnt stop it going up, during my time on Octopus they kept increasing my DD twice a year even on fixed deals, I have nearly £800 credit with them. These companies seem to have a business plan of building up cashflow by using customer's credit balances. A few days ago I gave them a reading which should give me a bill of around £600, so I could get as many units paid as I can on my last year plan which ends on Octo 5th. After Oct 5th I am on the SVR plan protected by ofgem cap.
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You can change the DD amount via their website. They put mine up and I put it back down - what's the issue??

Edit, just noticed you aren't on SVR yet..
 
thats what make it surprising Octopus are taking the Avro customers .. does acccepting customers significantly help Octopus resiliance - they've been blessed now
octopus had taken some share hits last week.
 
Octopus hedged their energy for the year so they're not in danger of going anywhere as they actually conduct business properly...
 
PiKe said:
Octopus hedged their energy for the year so they're not in danger of going anywhere as they actually conduct business properly...
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what proof do we have ? the ceo did a a proactive social media publicity - they do have fingers in multi-national pies though,
deserting a sinking ship can be self-fulfilling.

(
e: as I posted before share price can be the most critical indicator of health
https://uk.finance.yahoo.com/quote/OOA.L/
the shareholders have a vested interest
)

I'd looked at green accounts wondering if hedging (insurance) is specified in their accounts - couldn't see anything just the 200K ceo salary stood out.
 
Sasahara said:
Octopus are well funded and hedged, they are primed for large expansion. They can probably afford to take the lose of taking on Avro customers for 6 months effectively doubling their UK market share. Revenue from other countries will help them with a short term UK loss.

https://en.wikipedia.org/wiki/Octopus_Energy_Group
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From that article it seems they’ve developed CRM software which lots of other companies use too.
A significant part of Octopus Energy's profit and revenue comes from licensing their proprietary customer management system called Kraken, which runs on Amazon's cloud computing service. It was first licensed by UK rival Good Energy in late 2019, for an initial three-year term, to manage its 300,000 customers. In March 2020 it was announced that E.ON and its nPower subsidiary had licensed the technology to manage their combined 10 million customers, and the software was also licensed to Australia's Origin Energy as part of their May 2020 agreement. In 2021 the number of accounts supported by Kraken was reported to be 17 million.
 
MissChief said:
From that article it seems they’ve developed CRM software which lots of other companies use too.
A significant part of Octopus Energy's profit and revenue comes from licensing their proprietary customer management system called Kraken, which runs on Amazon's cloud computing service. It was first licensed by UK rival Good Energy in late 2019, for an initial three-year term, to manage its 300,000 customers. In March 2020 it was announced that E.ON and its nPower subsidiary had licensed the technology to manage their combined 10 million customers, and the software was also licensed to Australia's Origin Energy as part of their May 2020 agreement. In 2021 the number of accounts supported by Kraken was reported to be 17 million.
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I have hands on experience with kraken and it is an interesting bit of kit but it does have a lot of limitations that are having to be built around.
 
kinger8938 said:
Manually switched on their site as it it used to be an option?

I don't want it to roll into fixed especially as the email states it will roll in to flexible if left.. but that was before the current issues so not sure

*update
Just dm'd on twitter and they confirmed it will roll into variable, we shall see! I've asked how that rate stands at the moment

They came back and said it should be about £85pm estimate. Apparently the direct debit will stay at what I'm paying now but they then review it and adjust.

I'll increase it myself once it switches over just so it doesn't feel like I'm falling behind
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Yep it was an option, great news you got the confirmation.
 
Octopus have emailed me to confirm my reading is correct, they said if it is my DD has to go up, they might be on to what I am doing. I confirmed it as correct and next month will manually lower my DD.
 
Got my email from Octopus last night. Pretty happy with that TBH.

Can't believe Avro was a scam all along. I hope they can recover the money from those crooks, and the tax payer doesn't have to bail out the debt.
 
So is the forced move to Shell a bad thing for us green customers? It's unlikely i'll stay with them if so, will just shop around once the move is complete and my credit is safe!
 
Temujin said:
So is the forced move to Shell a bad thing for us green customers? It's unlikely i'll stay with them if so, will just shop around once the move is complete and my credit is safe!
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Mine is still going though, just had an email this morning confirming it.


Temujin said:
So is the forced move to Shell a bad thing for us green customers? It's unlikely i'll stay with them if so, will just shop around once the move is complete and my credit is safe!
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There will not be anything worth shopping around to. You’ll be paying more than the cap going elsewhere and Shell can’t charge you more than the cap.

I was on the green variable and was being pushed up to the cap so I’d be paying the same either way.

My switch to Sainsbury’s at just below the cap level is set at and still going through. But that isn’t available anymore.
 
Pigeon_Killer said:
WTF? Avro customers get Octopus and Green get Shell?
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they're bolstering the small companies .. please Miss I've got my hand up.


Zenduri said:
I have hands on experience with kraken and it is an interesting bit of kit but it does have a lot of limitations that are having to be built around.
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Kraken software doesn't appear to implement the hedging / long term modelling strategy , to which there ceo attributes resilience

In general, electric utilities face intrinsic risks as their revenues depend on high volatility factors including price and volume of sales/procurements. Aiming for an effective strategy to control those risks, we construct a hedging portfolio based on energy and weather derivatives, which can minimize the revenue fluctuations. To this end, we provide unique methods by applying nonparametric regression techniques ...
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hmmm - grit, winter clothing ? weather derivatives that will, presumably yield under bad weather scenarios.
 
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