Martin's WARNING: Your energy bill's about to JUMP by £100s - here are my 11 need-to-knows

greenguppie

Sea_Shell said:

Is there any legislation in place that says that any one supplier MUST offer at least one tariff for both Gas and Electricity?

Or can they all just "no quote" like a car insurer? - effectively withdraw from "new" customers.

...

What if we try and switch, and there is literally no one offering to "quote"?

I hope not, else that would see the immediate demise of:
Logicor Energy
Neon Reef
Symbio Energy
Daligas
Zog Energy
Neo Energy
Utilita

to name just a few that immediately spring to mind

There have also been situations in the past where certain suppliers were banned by Ofgem from taking on new customers.

The market is based on a competitive market place. There are currently over 60 suppliers struggling against each other to make an honest dollar, and paying their employees. Given the situation, it's unlikely that there will ever be the situation that "literally no one offering to "quote""
If that situation ever came close to occurring, there is no barrier to entry for others to eneter the market place (assuming they hold an appropriate supply licence, that is not that difficult to obtain)

Btw, there are a number of electricity customers on legacy metering that have suffered from being in the situation of "literally no one offering to "quote"" since the privatisation of the energy supply industry. They have the protection under Ofgem that states their legacy supplier is obliged to continuously supply them.

Sea_Shell said:

Also, if you are a currently on a fixed tariff, can the energy company break this contract and move you to a variable, if they give you notice and, say, waive the exit fee or pay a little compensation?

That would be governed by existing contract law.
You need to check the terms and conditions established for any specific exception, but generally the answer is no.

Sea_Shell

greenguppie said:

Sea_Shell said:

Is there any legislation in place that says that any one supplier MUST offer at least one tariff for both Gas and Electricity?

Or can they all just "no quote" like a car insurer? - effectively withdraw from "new" customers.

...

What if we try and switch, and there is literally no one offering to "quote"?

I hope not, else that would see the immediate demise of:
Logicor Energy
Neon Reef
Symbio Energy
Daligas
Zog Energy
Neo Energy
Utilita

to name just a few that immediately spring to mind

There have also been situations in the past where certain suppliers were banned by Ofgem from taking on new customers.

The market is based on a competitive market place. There are currently over 60 suppliers struggling against each other to make an honest dollar, and paying their employees. Given the situation, it's unlikely that there will ever be the situation that "literally no one offering to "quote""
If that situation ever came close to occurring, there is no barrier to entry for others to eneter the market place (assuming they hold an appropriate supply licence, that is not that difficult to obtain)

Btw, there are a number of electricity customers on legacy metering that have suffered from being in the situation of "literally no one offering to "quote"" since the privatisation of the energy supply industry. They have the protection under Ofgem that states their legacy supplier is obliged to continuously supply them.

Sea_Shell said:

Also, if you are a currently on a fixed tariff, can the energy company break this contract and move you to a variable, if they give you notice and, say, waive the exit fee or pay a little compensation?

That would be governed by existing contract law.
You need to check the terms and conditions established for any specific exception, but generally the answer is no.

DOH!!!!  MY MISTAKE.

I forgot to take off the filter to only show those deals that can be switched using U-Switch.

If I take this filter off, then there are many more options to choose from.

However, it does show that there are a lot less available to use via U-Switch than their used to be!!!!

greenguppie

Sea_Shell said:

....
However, it does show that there are a lot less available to use via U-Switch than their used to be!!!!

Indeed. A similar comment was made yesterday about the CEC.

I think during in these difficult financial times for energy suppliers, most have had their marketing budgets slashed. I said yesterday I only recall seeing Octopus adverts recently.
Since then I think I heard an Ovo advert.
Also Eon Next seem to be advertising in the press, but they are a relative newcomer part of the mighty Eon Group, and presumably their successful launch is based upon a marketing campaign.

But I've not seen others recently, even from the other big boys like BG, EDF, Scottish Power, etc who often spent big bucks in the past on TV advertising. If the big boys can't afford to advertise, the lower priced smaller suppliers probably don't have any spare cash to splash either.

Gerry1

Sea_Shell said:

I went on to U-switch and was surprised to see only 15 dual fuel offers available (by only 6 suppliers).  All about £400 more pa than that which I'm currently paying.

You probably only saw the expensive companies that pay Uswitch commission.  The Whole of the Market option is well hidden: you have to click on 'Filter'.

That's why it's best to start comparing with Citizens Advice and 'Which? Switch' because they default to showing the whole market.

MasterOfNinja

Could I ask where can I find the data source for the "energy crisis" graph in point 1 of the article? It would be nice to have a record, and also see if it goes further historically to try and predict trends for all of us.

Sea_Shell

How do OFGEM pick who'll step in as the SoLR, for each smaller supplier who ceases trading?

Do the big companies bid for them, or are they "told" they're "it".

Just wondered how it all works, behind the scenes.

greenguppie

Gerry1 said:

That's why it's best to start comparing with Citizens Advice and 'Which? Switch' because they default to showing the whole market.

No free wine possibilty from the Citizens Advice, but lots of misleading cheap tariffs not actually available as I (and others) have mentioned previously
https://forums.moneysavingexpert.com/discussion/comment/78605876#Comment_78605876

[Deleted User]

Sea_Shell said:

How do OFGEM pick who'll step in as the SoLR, for each smaller supplier who ceases trading?

Do the big companies bid for them, or are they "told" they're "it".

Just wondered how it all works, behind the scenes.

A lot of useful background information in this link. Suppliers bid to become SoLRs but Ofgem has the necessary powers to appoint a SoLR:

https://ddcos.com/wp-content/uploads/2020/07/DDC-UK-_SoLR.pdf

Sea_Shell

Dolor said:

Sea_Shell said:

How do OFGEM pick who'll step in as the SoLR, for each smaller supplier who ceases trading?

Do the big companies bid for them, or are they "told" they're "it".

Just wondered how it all works, behind the scenes.

A lot of useful background information in this link. Suppliers bid to become SoLRs but Ofgem has the necessary powers to appoint a SoLR:

https://ddcos.com/wp-content/uploads/2020/07/DDC-UK-_SoLR.pdf

Very interesting, thank you!

The two main points in answer to my question are:

"Any supplier can submit a ‘bid’ to become the SoLR. Ofgem needs to be convinced the potential SoLR can supply the additional customers without significantly prejudicing its ability to continue to supply its existing customers and to fulfil its contractual obligations for the supply of gas and/or electricity."

"Though Ofgem would always prefer to be able to appoint a SoLR that had consented to the role, it will consider using its powers to direct a supplier without its consent."

Gerry1

greenguppie said:

Gerry1 said:

That's why it's best to start comparing with Citizens Advice and 'Which? Switch' because they default to showing the whole market.

No free wine possibilty from the Citizens Advice, but lots of misleading cheap tariffs not actually available as I@yelias others) have mentioned previously
https://forums.moneysavingexpert.com/discussion/comment/78605876#Comment_78605876

@greenguppie @yelias I make no apology for mentioning Citizens Advice.  You will note that I said START with Citizens Advice and 'Which? Switch', so the expectation is that you will also check other sites.  Not exactly difficult to understand !  Citizens Advice and 'Which? Switch' are STILL good places to start because they don't filter out the results from cheap suppliers that don't pay commission.

This forum has many posts from people who haven't obtained the cheapest results e.g. because they used Uswitch which makes it very difficult to see the whole market.

I understand that Citizens Advice uses Energy Helpline and that 'Which? Switch' uses Energylinx.  I don't believe that these PCWs are any worse than the others, and I've noticed that many other PCWs also contain inappropriate or outdated information as well.  For example, MSE/CEC always brings up London Power which wouldn't supply me because I don't live in London; Runpath shows the defunct providers MoneyPlus, PfP, Energy and Hub Energy.