Four more small energy firms could go bust next week (c. 20/09/21)

Shedman

bagand96 said:

With the press coverage now, this will likely necomena self fulfilling prophecy for the smaller players as customer initiate switches away or try and get credit balances back... Bit like everyone rushing to get their cash out of Northern Rock. 

Or maybe they lose enough customers that they have enough hedged energy left to continue to supply the remainder and stay in business ( he says knowing this is very wishful thinking.....)

shefmarkh

bagand96 said:

With the press coverage now, this will likely necomena self fulfilling prophecy for the smaller players as customer initiate switches away or try and get credit balances back... Bit like everyone rushing to get their cash out of Northern Rock. 

bagand96 said:

With the press coverage now, this will likely necomena self fulfilling prophecy for the smaller players as customer initiate switches away or try and get credit balances back... Bit like everyone rushing to get their cash out of Northern Rock. 

Not necessarily. Many Bulb customers are complaining the option to request a refund has been removed from the App and Website...

DiseasedBunny

1 down…3 to go (this week)

Verdigris

Green gorn.

westv

So gasmageddon continues.

DiseasedBunny

Avro gone…

gt94sss2

https://twitter.com/ofgem/status/1440679307861315602?s=21

Sea_Shell

Have the big 6 suppliers  "hedged" enough gas to end up propping up the whole SoLR market.

They'd have planned for increases,  and the odd supplier going bust...but not this!!

Can they cope?

ewokuk

Ok so the switch from Avro to E.on Next which I put through on Sunday should have made it onto the systems just in time right?  Email from E.on monday with my welcome pack stating they will be my provider from 30th Sept, and email from Avro yesterday saying sorry to see me go.  I am assuming I managed to get out just in time.

Assuming I made it in time, what happens to me remaining balance with Avro I don't know, since technically I started the switch before they went bust so SoLR won't apply and I won't have an SoLR supplier to refund me.  I have just cancelled my Avro direct debit in an attempt to at least force them to take the next payment out of what I already have in credit.

Verdigris

I imagine the administrators of failed companies will be putting any unconsumed hedged energy back on the market.