Hub Energy is ceasing to trade.

greenguppie

Relative newcomer and minnow supplier, Hub Energy have thrown in the towel

Hub Energy, a gas and electricity supplier, had around 6,000 domestic customers and 9,000 non-domestic customers.

https://www.ofgem.gov.uk/publications/ofgem-protects-customers-failed-supplier-hub-energy


Anyone think they will be a lone wolf, or are they the start of a cascade of failing energy suppliers unable to keep supplying at the unrealitsic low fixed prices we have seen some suppliers promoting at this time of high and increasing wholesale prices?

greenguppie

I think this is the supplier that previously traded as:
Gulf Gas & Power

Was once popular with many forum users here due to their ridiculously low gas prices at that time.

brewerdave

Yes ; Gulf were extremely competitive ! But the renewal quote from Hub wasn't so I suspect there was a mass exodus of customers earlier this year!

tim_p

brewerdave said:

Yes ; Gulf were extremely competitive ! But the renewal quote from Hub wasn't so I suspect there was a mass exodus of customers earlier this year!

Oddly, if you did nothing you got put onto their ‘default’ tariff which was cheaper than the ‘special offer’ they suggested you took!  I’m about to go elsewhere now sadly. Their website was brilliant, no issues whatsoever.

Swipe

The first one of many I suspect. It's going to be tough for the all the small fry companies if wholesale prices remain high for the rest of the year.

Gerry1

Shame, they were good, although the use of Gulf name and badge seemed a bit dodgy, and the Hub name was plain daft.

However, it's quite a common practice nowadays, brands such as Bush, GPO, Grundig, MG, Nokia etc have little if any connection to the original companies or organisations so perhaps one shouldn't complain too much.

stewie_griffin

Ofgem have appointed E.ON Next as the SoLR.

brewerdave

stewie_griffin said:

Ofgem have appointed E.ON Next as the SoLR.

God help them !!

bristolleedsfan

brewerdave said:

stewie_griffin said:

Ofgem have appointed E.ON Next as the SoLR.

God help them !!

Why ????  https://www.eonnext.com/  https://uk.trustpilot.com/review/eonnext.com

greenguppie

brewerdave said:

stewie_griffin said:

Ofgem have appointed E.ON Next as the SoLR.

God help them !!

Who? Eon Next or the Hub Energy customers affected?

Eon Next are a huge supplier. They are part of the Eon Group and I think supply all former nPower domestic customers (unless those customers have since switched) following the acquisition by Eon. Many existing Eon customers are also being transferred to Eon Next I understand.

15000 extra customers, of which only 6000 are domestic, should be a drop in the ocean to them.

Also, all the feedback both in this thread and the much bigger feedback thread on Hub Energy (formally known as Gulf Gas & Power) seems generally positive, apart from the price/tariff charged over the past 12 months or so.

That would hopefully suggest that Hub Energy accounts are probably in good order, even if they did run out of money. Hopefully that will also mean there will be not the difficulties that have been experienced with some other suppliers that have gone bust whose accounts were perhaps not in such a good condition/up to date as they should have been.

I'm not sure how the new tariff offered by Eon Next to Hub Energy domestic customers will compare, bearing in mind the high price was the main complaint against Hub Energy recently.
If anyone was still on an old, cheap, fixed, Gulf Gas & Power tariff, they would probably see the biggest price difference, but I think those tariffs would have been coming to an end shortly anyway.

Eon Next say they will put the customers on their cheapest variable tariff, but they will guarantee to fix that that price for the initial 6 months. So customers will not be hit immediately by the impending price rises that will affect most customers on variable tariffs when Ofgem raises the price cap on October 1st.

No exit fees will apply to that variable tariff. Customers will be welcome to switch supplier, or apply for an alternative Eon Next tariff, once switching is complete. It is anticipated the switching process will take 2-3 weeks (which is in line with any switch of supplier).

Hub Energy customers will be supplied by Eon Next from today, 13 August 2021. (but they are not starting the switching process itself today as they need to obviously first be given all the details of the 15000 affected customers)

Customers will not experience any interruption to their energy supply.

https://www.ofgem.gov.uk/publications/ofgem-appoints-eon-next-take-customers-hub-energy

https://www.eonnext.com/hub-energy

It would appear that Eon Next have agreed to protect the credit balances of all Hub Energy customers, domestic & non-domestic.
Usually, the Ofgem SoLR process only protects the credit balances of domestic customers.

bristolleedsfan

greenguppie said:

brewerdave said:

stewie_griffin said:

Ofgem have appointed E.ON Next as the SoLR.

God help them !!

Who? Eon Next or the Hub Energy customers affected?

Eon Next are a huge supplier. They are part of the Eon Group and I think supply all former nPower domestic customers (unless those customers have since switched) following the acquisition by Eon. Many existing Eon customers are also being transferred to Eon Next I understand.

Add to that Eon Next platform was built using  Octopus Energy Technology, customer experience will be virtually identical, huge difference in 1 and 2 year standard tariff fixed rate quote/signup prices with Eon Next loads cheaper, currently doing what Octopus Energy did prior to middle of July keeping all its tariffs via own website below current energy cap