We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Hub Energy is ceasing to trade.

Options
13

Comments

  • QrizB
    QrizB Posts: 18,245 Forumite
    10,000 Posts Fourth Anniversary Photogenic Name Dropper
    Dr_Crypto said:
    To be honest I haven’t checked for a few years now so I’m sure I can get something cheaper. Do you have to wait before starting a switch or could I start one now? 
    It's worth checking the comparison sites, even if you don't decide to switch.
    Try https://switch.which.co.uk/ and/or https://energycompare.citizensadvice.org.uk/ as neither of these sites get kickbacks from the energy companies.


    N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.
    Not exactly back from my break, but dipping in and out of the forum.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
  • I’d wait at least a month after eon next migrate the accounts over to save any problems. I believe all the accounts are starting to move over on Monday 16/8 but will be in batches. 

    Eon next will keep you on exactly the same tariff as you were on with HUB energy and will only change when your fixed term comes to an end
  • MWT
    MWT Posts: 10,256 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    Eon next will keep you on exactly the same tariff as you were on with HUB energy and will only change when your fixed term comes to an end
    Where have you seen that stated?

    The information posted so far says that everyone has been transferred to a variable tariff with the promise that it will not change for the next 6 months, no promises to match the tariff they were on as far as I can see… ?
  • tim_p
    tim_p Posts: 877 Forumite
    Eighth Anniversary 500 Posts Name Dropper
    MWT is right, there’s absolutely no mention of matching any tariff just a statement that you’ll be on their (E.ON) cheapest variable tariff, based on average consumption (2900/12000)
  • tim_p said:
    MWT is right, there’s absolutely no mention of matching any tariff just a statement that you’ll be on their (E.ON) cheapest variable tariff, based on average consumption (2900/12000)
    I have never really understood why people think that the SoLR should offer tariff protection. If consumers decide to choose a cheap tariff from one of the smaller suppliers and the company goes bust then, surely, personal choice comes into play. Why should Granny of Grimsby on just her State  Pension with, say, BG, face higher energy costs as a result of other consumers’ bad choices. The additional cost of tariff protection is the subject of an additional claim against Ofgem as is credit balance protection.

    Time to start the car.
  • brewerdave
    brewerdave Posts: 8,714 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 24 October 2023 at 5:54PM
    tim_p said:
    MWT is right, there’s absolutely no mention of matching any tariff just a statement that you’ll be on their (E.ON) cheapest variable tariff, based on average consumption (2900/12000)
    I have never really understood why people think that the SoLR should offer tariff protection. If consumers decide to choose a cheap tariff from one of the smaller suppliers and the company goes bust then, surely, personal choice comes into play. Why should Granny of Grimsby on just her State  Pension with, say, BG, face higher energy costs as a result of other consumers’ bad choices. The additional cost of tariff protection is the subject of an additional claim against Ofgem as is credit balance protection.

    Time to start the car.
    I'd agree with you IF 1. successive Govts. hadn't made such an effort to persuade Joe Public to switch to save money  & 2. If OFGEM actually controlled new entrants to the market by ensuring their financial stability at start up.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    1,000 Posts Third Anniversary Name Dropper
    edited 24 October 2023 at 5:54PM
    tim_p said:
    MWT is right, there’s absolutely no mention of matching any tariff just a statement that you’ll be on their (E.ON) cheapest variable tariff, based on average consumption (2900/12000)
    I have never really understood why people think that the SoLR should offer tariff protection. If consumers decide to choose a cheap tariff from one of the smaller suppliers and the company goes bust then, surely, personal choice comes into play. Why should Granny of Grimsby on just her State  Pension with, say, BG, face higher energy costs as a result of other consumers’ bad choices. The additional cost of tariff protection is the subject of an additional claim against Ofgem as is credit balance protection.

    Time to start the car.
    I'd agree with you IF 1. successive Govts. hadn't made such an effort to persuade Joe Public to switch to save money  & 2. If OFGEM actually controlled new entrants to the market by ensuring their financial stability at start up.
    That is one argument. Ofgem could insist that new entrants enter into a Bonded Insurance Scheme which would cover the cost of them failing. This would though result in higher energy prices. Ofgem is not forcing consumers to choose the cheapest deal on offer, and there are numerous websites which allow consumers to make informed decisions when it comes to customer service; complaints etc. 
  • QrizB said:
    Dr_Crypto said:
    To be honest I haven’t checked for a few years now so I’m sure I can get something cheaper. Do you have to wait before starting a switch or could I start one now? 
    ...
    Try https://switch.which.co.uk/ ...as neither of these sites get kickbacks from the energy companies.


    Where have you seen that stated? How do you think they fund the service?

    I often see those 2 sites advised on these forms, but do not undersand why?

    All suppliers pay commission to comparison sites that switch you.
    But unlike some other comparison sites, Which? does not provide the customer with any cashback by sharing that commission.

    Better to use an Ofgem accredited comparison site, and one which seaches the whole of market, and preferably one that offers cashback if you switch through them.

    Under the Ofgem confidence code, you can be assured that when viewing the whole of market data, the results are impartial will not be influenced by any commission the site may receive from certain suppliers. It is also a requirement that the site clearly identifies any supplier it has a commission arrangement with for switches completed through the site. That is possibly the reason the Which? site is NOT accredited.

    You are correct that the CA site does not get any commission as it does not cater for switching to any supplier via them. What can sometimes be confusing is that the CA site sometimes also includes details of exclusive tariffs:  tariffs that are not available direct from the supplier but rather through a third party site, such as a different comparison site.
    They are not available fom CA site, because as I said, they do not cater for switching  to any supplier via them but oddly they also do not state where they can be obtained from either.
    (to be fair, there is a warning on the site that this may be the case)
  • Interesting Govt comment about price comparison website and switching companies in this link:

    https://www.theguardian.com/business/2021/aug/15/renewable-electricity-deals-investigated-by-uk-government?CMP=Share_AndroidApp_Other
  • greenguppie
    greenguppie Posts: 173 Forumite
    100 Posts Name Dropper First Anniversary
    edited 16 August 2021 at 9:26AM
    Dolor said:
    tim_p said:
    MWT is right, there’s absolutely no mention of matching any tariff just a statement that you’ll be on their (E.ON) cheapest variable tariff, based on average consumption (2900/12000)
    ... The additional cost of tariff protection is the subject of an additional claim against Ofgem as is credit balance protection. ...

    Whilst I am not seeking to disagree with you if you are generalising the sitution, I'm not sure there will be any claim by the supplier in this particular case. i.e. to fund credit balances.

    I've not seen the full details of the offer Eon Next made in bidding to become the SoLR, but as their offer also included protecting credit balances of non-domestic customers, I suspect they are funding this entirely themselves. Ofgem normal terms do not cover protecting non-domestic customers credit balances.

    But Ofgem do look amongst other requirements at the details of the bids received in deciding which SoLR is the best value and therefore to choose. Those bids would include details of any future claim the chosen SoLR may make in the future, and on what basis.

    As I mentioned previously in this thread, the addition of Hub Energy customers to Eon Next would be a drop in the ocean to them, so that maybe why they may have agreed to fund this matter entirely themselves.

    To clarify, the bid did not include tariff protection of former Hub Energy tariffs. It is true this is not a requirement. (but it does sometimes happen when a supplier bids) In this case, iIt did include a promise to fix the price of the tariff customers would be placed on for 6 months
    (No early exit fees will apply but I think that is an Ofgem requirement when bidding in any event)


Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.