That was quick
sure was bud £50 each
check its from me on the email mark bennett
markb9565 on bulb referral
sure was bud £50 each
check its from me on the email mark bennett
markb9565 on bulb referral
Associate
sure was bud £50 each
check its from me on the email mark bennett
markb9565 on bulb referral
Yep it's you mate! Appreciate the other two offers but seems Jimmy Saville strikes again!
Permabanned
I was with them as they were cheaper than others at the time.
Just had a txt from Utilita saying that I am being switched to them. Rather annoying as I can’t find anything as cheap as Our Power was.
Caporegime
Maybe why they went bust
It really begs the question of who is picking up the tab for all of these suppliers going bust?
All their customers are being compensated for any credit they have, if the company has gone bust then it isn't from them. Loads of people on here had huge credits when the last one went.
I'm guessing it is the rest of us funding it through higher energy bills.... not cool.
All their customers are being compensated for any credit they have, if the company has gone bust then it isn't from them. Loads of people on here had huge credits when the last one went.
I'm guessing it is the rest of us funding it through higher energy bills.... not cool.
Associate
Correct, the costs are recovered from the network operators through their charges which will be increased in future periods to soak up the costs of honouring credit balances. These will eventually filter through to increased bills in the future.
https://www.ofgem.gov.uk/system/fil...sort_supply_payment_claim_-_final_decison.pdf
It's a complete scandal.
Well that basically confirms the market is broken.
How is it even acceptable for consumers to have to subsidise mismanged companies? I know it’s there to protect consumers but there is clear behaviour from these small companies to build up silly credit balances to help their cash flow. Consumers are willing to do it because there is no risk and they are ‘banking money’ just in case.
When they go bust it’s up to the market to pick up the tab.
I just don’t understand what’s wrong with a single publicly owned regulated company that is ran on a commercial basis (like Royal Mail was) to provide the service. The price should reflect the cost of operation and any future investment.
All this pseudo ‘competition’ is bonkers.
How is it even acceptable for consumers to have to subsidise mismanged companies? I know it’s there to protect consumers but there is clear behaviour from these small companies to build up silly credit balances to help their cash flow. Consumers are willing to do it because there is no risk and they are ‘banking money’ just in case.
When they go bust it’s up to the market to pick up the tab.
I just don’t understand what’s wrong with a single publicly owned regulated company that is ran on a commercial basis (like Royal Mail was) to provide the service. The price should reflect the cost of operation and any future investment.
All this pseudo ‘competition’ is bonkers.
Soldato
*cough* Railways *cough*
No the privatisation of trains are completely different issue. The 'competition' is for the bidding of the franchises and not the end consumer choosing their train operator you get who ever wins the contract. There is no competition there because there is only a few massive companies actually willing to do it. As much as I believe the state can do the trains as well as the private operators it is 100% not the same thing.
The energy market is broken for multiple other reasons documented in this thread.
The energy market is broken for multiple other reasons documented in this thread.
Soldato
I know it's a totally different beast really, the illusion of competition and potential of nationalisation were literally the only skin deep similarities.
Not sure why consumers(& OCers posting here) are engaging with small companies and building up a credit though, unless contract demands that - it still takes your time getting the refund ...
As commented, though,the companies are being mis-managed -why are the auditors and investors allowing them to run at a loss where company assets are not big enough to cover customer credit, this becomes like the banks, needing to ensure they have liquidity .. is their business model only viable based on this credit.
Larger/secure companies should have some recourse so they do not have to pay disproportionately into salvage fund, and the smart meter installation oibligation will probably tip more over too.
As commented, though,the companies are being mis-managed -why are the auditors and investors allowing them to run at a loss where company assets are not big enough to cover customer credit, this becomes like the banks, needing to ensure they have liquidity .. is their business model only viable based on this credit.
Larger/secure companies should have some recourse so they do not have to pay disproportionately into salvage fund, and the smart meter installation oibligation will probably tip more over too.
Some of these smaller cheaper companies you have to pay at least a month is advance and pay by direct debit. If you sign up in the spring/summer you are going to have a huge credit come winter, the whole point of the fixed direct debit is to have stable bills. It's pretty much what the vast majority want, personally I would rather just pay for what I use when I use it but for many companies that isn't an option or it costs more. They want your money in advance so they can pre-buy the winter fuel in advance at a lower price hence the credit.
Auditors just look at a snapshot of your business at the year end and they don't stop you running your own company into the ground. They are merely there to verify what the accounts say materially reflect reality (or not in the case of some large companies recent accounting 'issues').
Due to the compensation rules highlighted above building up a credit is risk free for the consumer but it pushes up prices for everyone when a company fails and they do fail regularly. It's crazy that your neighbour may end up paying significantly more for the same product delivered by the same network to the same place all in the name of a broken market. Not everyone can engage in the market the same way, those that typically have less money end up paying more and that is difficult to break out of. I switched suppliers 4 times this year, every time I did that I had to pony up before I got my refund from the last. In fact one time I switched so quickly that I was waiting for 2 refunds and every time I was paying at least a month in advance. That's all fine if you have the cash but if you are just about managing then it isn't.
Auditors just look at a snapshot of your business at the year end and they don't stop you running your own company into the ground. They are merely there to verify what the accounts say materially reflect reality (or not in the case of some large companies recent accounting 'issues').
Due to the compensation rules highlighted above building up a credit is risk free for the consumer but it pushes up prices for everyone when a company fails and they do fail regularly. It's crazy that your neighbour may end up paying significantly more for the same product delivered by the same network to the same place all in the name of a broken market. Not everyone can engage in the market the same way, those that typically have less money end up paying more and that is difficult to break out of. I switched suppliers 4 times this year, every time I did that I had to pony up before I got my refund from the last. In fact one time I switched so quickly that I was waiting for 2 refunds and every time I was paying at least a month in advance. That's all fine if you have the cash but if you are just about managing then it isn't.
Permabanned
All of which is easily negated by having a pre-payment meter the difference in pricing is almost nothing nowadays.
you'll have to tell us the unit cost too .. otherwise looks mor expensive than BULB https://forums.overclockers.co.uk/posts/32108926
BULB started some tv advertising campaign - do people really put any weight in what Trust Pilot says ? - which is the basis of bulbs advert - a 9/10 rating !.
they have obviously not read how TP results can be curated/massaged (by the bed in a box folks for example) .... this makes me want to leave Bulb ...
TP is even less credible than Amzon reviews
Man of Honour
Just applied to switch over to Green Energy from Breeze. Gutted Breeze hasn't offered a new Fixed tariff as they've been brilliant. So easy and they are bloody cheap, but once the fixed tariff ends that's it, they only offer a single variable tariff which is expensive.
Was going to go to Bulb but Green Energy were only a fraction more expensive going through the Cheap Energy club and at least it's fixed for 12 months.
Was going to go to Bulb but Green Energy were only a fraction more expensive going through the Cheap Energy club and at least it's fixed for 12 months.
Soldato
Doesn't the chunky standing charge on PP make it worse? To be honest, I forget how much a normal household gas usage is: I've been on oil for years now.An easier side by side comparison with todays prices based on Yorkshire for PP and Postcode (same place) for Bulb.
So prices close but PP wins for my area at least on unit price but see Bulbs standing charge 4.6p cheaper/day
Does PP have a referral scheme like bulb's?
Soldato
12000 units of gas saves a little under £60, PP vs Bulb, but the membership standing charges cost you £56 ish (it's £8.50/ month, not £8), and the electric is a little cheaper with bulb. Pretty much identical: comes down to the referral bonus: does PP do one?
Soldato
£20 saved: you lose the amount you calculated on each fuel. And then electric is cheaper with bulb.