Demise of Economy Energy

D_M_E

Report from the BBC

https://www.bbc.co.uk/news/business-46798461

And this from Ofgem

https://www.ofgem.gov.uk/publications-and-updates/ofgem-protects-customers-failed-supplier-economy-energy

Mr.Everready

See the 20 threads below !?

newsgroup_monkey

It never fails to amuse me when people do this, particularly when they've got 2,161 posts....

When it's a noob, I can totally get it.

MABLE

Makes you wonder who is next my dears! Please do not let it be Eversmart as I am on a great deal until April 24 2019. Please for my sake Eversmart hang in there. You can do it.

brewerdave

Eversmart, OFTM, Utility Point, Toto, etc ,etc.....you pays your money ,you takes your choice!

If you believe the PR from the likes of First Utility/Together (as suppliers of last resort) the tariffs currently being offered by some of these, are unsustainable in the current energy market.

amcg100

I guess we must have been a bit hard on them............

jaybeetoo

newsgroup_monkey wrote: »

It never fails to amuse me when people do this, particularly when they've got 2,161 posts....

When it's a noob, I can totally get it.

It’s how they got to 2,161 posts! :rotfl:

Anthorn

MABLE wrote: »

Makes you wonder who is next my dears! Please do not let it be Eversmart as I am on a great deal until April 24 2019. Please for my sake Eversmart hang in there. You can do it.

Any and all small suppliers can go under. The major problem is that when these small energy companies started their tariffs were sustainable. But due to the current difficulties not least of which was the spike in demand caused by the beast from the east these small energy companies need to increase their revenue to survive. But look at what happened when Outfox increased its prices!

From what I see the major problem is that customers transferred to a viable supplier of last resort when their small supplier went down are switching to other small suppliers with the probable outcome being Groundhog Day!

Inigo_Montoya

Anthorn wrote: »

Any and all small suppliers can go under. The major problem is that when these small energy companies started their tariffs were sustainable. But due to the current difficulties not least of which was the spike in demand caused by the beast from the east these small energy companies need to increase their revenue to survive. But look at what happened when Outfox increased its prices!

From what I see the major problem is that customers transferred to a viable supplier of last resort when their small supplier went down are switching to other small suppliers with the probable outcome being Groundhog Day!

as long as I can pay by variable direct debit paying only after receipt of a bill so never build up any credit then I dont really have a problem with my supplier going bust because their tariffs are too cheap

the real issue is that IIUTC all the other suppliers are forced to share/pick up the bill when a supplier goes bust so like the cost of smart metering it inevitably increases costs to the consumer

Anthorn

It could be that paying in arrears will soon be a thing of the past for all suppliers. Certainly the cheaper tariffs from several suppliers specify monthly direct debit in eluding the tariff I'm on, EDF Exclusive Easy Online Dec 19.

Also consider that weather services are predicting Beast From The East 2 during winter 2019. So if the first beast contributed to higher prices due to a spike in demand we can probably look forward yet more price rises in 2019 and consequently yet more small suppliers going down.

It's probably a good time to at least switch to a fixed tariff and perhaps also to switch away from small suppliers to medium suppliers such as Bulb or even the big six.