Pkingy   10 #1 Posted September 15, 2021 Ceased trading what does this mean to customers Share this post Link to post Share on other sites Share this content via...
FoxLady   121 #2 Posted September 15, 2021 Tells you to sit tight, that an alternative supplier will be appointed, and "don't switch" on their website.  Do that.  Share this post Link to post Share on other sites Share this content via...
Annie Bynnol   612 #3 Posted September 15, 2021 "Ofgem director of retail Neil Lawrence said: "Although the news that a supplier going out of business can be unsettling, Utility Point and People's Energy customers do not need to worry. "Under our safety net we'll make sure your energy supplies continue. If you are a domestic customer with credit on your Utility Point or People's Energy account this is protected and you will not lose the money that is owed to you."  He added: "Ofgem will choose a new supplier for you and while we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime. You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your new tariff."" Daily Record UPDATED12:53, 15 SEP 2021 Share this post Link to post Share on other sites Share this content via...
El Cid   220 #4 Posted September 15, 2021 I am with Peoples Energy. Why did 2 energy suppliers go bust on the same day? Share this post Link to post Share on other sites Share this content via...
HeHasRisen   3,399 #5 Posted September 15, 2021 (edited) 3 minutes ago, El Cid said: I am with Peoples Energy. Why did 2 energy suppliers go bust on the same day? May have been the same day the wholesale cost went up which pushed two over the edge at the same time? Edited September 15, 2021 by HeHasRisen Share this post Link to post Share on other sites Share this content via...
iansheff   88 #6 Posted September 15, 2021 (edited) Meant to quote post 2 but forgot.  I didn't change from the supplier they moved me to when GNE went under, one reason being they guaranteed they would charge less then GNE did until the end of September but it took quite a while before everything was sorted out. Edited September 15, 2021 by iansheff Share this post Link to post Share on other sites Share this content via...
BigAl1 Â Â 143 #7 Posted September 16, 2021 14 hours ago, El Cid said: I am with Peoples Energy. Why did 2 energy suppliers go bust on the same day? I said elsewhere on this forum about two weeks ago when someone was bleating on about the big energy suppliers increasing prices /ripping off customers that this is exactly what was likely to happen and since then to my knowledge at least 5 suppliers have gone out of business. Â it is really very simple these companies have offered very low prices to get business BUT the problem is that as the energy prices rise on the wholesale market they are making a loss which they simply do not have the resources to cover the cost of continuing to meet their contracts with existing users Share this post Link to post Share on other sites Share this content via...
crookesey   635 #8 Posted September 16, 2021 (edited) I always attempt to balance cost with quality, I’m with Shell Energy who I’m certain can ride out any storms in the energy markets. They are unlikely to be the very cheapest, but I do expect them to be still in business when my current deal ends. Edited September 16, 2021 by crookesey Share this post Link to post Share on other sites Share this content via...
L00b   441 #9 Posted September 16, 2021 3 hours ago, BigAl1 said: I said elsewhere on this forum about two weeks ago when someone was bleating on about the big energy suppliers increasing prices /ripping off customers that this is exactly what was likely to happen and since then to my knowledge at least 5 suppliers have gone out of business.  it is really very simple these companies have offered very low prices to get business BUT the problem is that as the energy prices rise on the wholesale market they are making a loss which they simply do not have the resources to cover the cost of continuing to meet their contracts with existing users Exactly this. Some suppliers may also be exiting the market early, through anticipation.    Share this post Link to post Share on other sites Share this content via...
crookesey   635 #10 Posted September 16, 2021 (edited) It’s not the end of the world, you’re covered by a regulator, you exercised your legal right to do with your money as was your legal right to do. What is wrong is that a tuppence ha’penny  ‘corner shop’ operation can pretend to be a real player, we have departments that should sort this sort of thing, don’t we? Edited September 16, 2021 by crookesey Share this post Link to post Share on other sites Share this content via...
saywhatnow   33 #11 Posted September 16, 2021 My supplier has put my gas DD up £5 a month and £10 for electricity, that's the biggest hike up in price I've ever seen. Comparing it online looks like I may be able to save a fiver a month by moving, but the increase is ridiculous.  Don't know about anyone else but I didn't receive an inflation uplift in my salary for this financial year and I doubt I will for 2022/23 either. Pensioners have done alright even though the triple lock has been broken IMO. Share this post Link to post Share on other sites Share this content via...
geared   315 #12 Posted September 16, 2021 Electricity has just jumped again after the cable to France set on fire, will be a couple of weeks till it's fixed. Share this post Link to post Share on other sites Share this content via...