Coop Energy is taking over Flow Energy

Legacy_user

Britain’s Co-operative Energy will buy fellow energy supplier Flow Energy, the two companies said on Tuesday, with the smaller firm warning it would have struggled under the government’s looming price cap.

Source: Reuters

https://uk.reuters.com/article/uk-flowgroup-m-a-cooperative/britains-co-op-to-buy-flow-energy-as-energy-price-cap-looms-idUKKBN1HH1J0

brewerdave

The first of the dominoes to fall ?? Sad day if it does:(

tghe-retford

brewerdave wrote: »

The first of the dominoes to fall ??

I think it's already happening.

• Firms now implementing standing charges or higher unit prices for the first x amount of energy used which penalises low energy users and small households.
• Smaller firms collapsing, closing their tariffs or offloading customers to another supplier.
• Inflation busting price increases for the remaining firms.

The days of the free market sorting itself out and competing for custom appear to be over. As I fear the idea of saving money by switching suppliers when they either all charge roughly the same amount, the cheaper ones die off or switch you over to a more expensive one. I got switched over to another supplier today because my old supplier appears to no longer be able to make a profit off some of its customers. When I did a price comparison, its pretty much all the same price, just the name that changes and the days of no standing charge tariffs are over.