Big Six collapse? Ofgem puts advisers on standby

Verdigris

Mighty satires, now!

SaverRate

Is this for Bulb?

worrywart_3

jackpotjackpot said:

I'm sat here freezing can't even put the heating on due to the Avro energy bust, hands are purple really feeling it today. Just had some hot food and a cuppa that helped but not good. 

That’s not good its
not even that cold yet, have you got an open fire? Are you entitled to the warm home grant? Can you get an electric throw, hot water bottle ? Please don’t freeze 

K2rool

Most like if any major goes bang in the next week or two, it probably going to be Bulb due to them recently looking for new funding with the wholesale price keep going up and selling gas at lose due to price cap I seriously doubt they find anyone willing to invest.

m-holland

Fingers crossed its Scottish Power

Streaky_Bacon

K2rool said:

Most like if any major goes bang in the next week or two, it probably going to be Bulb due to them recently looking for new funding with the wholesale price keep going up and selling gas at lose due to price cap I seriously doubt they find anyone willing to invest.

Except that more than one supplier has shown interest in a possible takeover, including Octopus.

Not surprising to see big players, with deep pockets, investing to increase their customer base, even if that involves a loss in the short term.

https://www.msn.com/en-gb/money/other/gas-crisis-octopus-energy-eyes-takeover-bid-of-rival-bulb/ar-AAONPB5

I am not aware of any large player being forced to take on an SoLR. They are happy to get the customers, take a bit of a loss and also dip into the industry levy if they can.

Why else would any supplier be looking to take over Bulb's 1.7 million loss making customers?

savers_united

DiseasedBunny said:

My moneys on British Gas - would be a shock, they’ve got too big for their boots 🤣

The big boys like BG don't just supply, they also generate energy,. Centrica have been in the North Sea for years, so benefit when prices rise, hedging against any losses in its retail sector. 

manic37

m-holland said:

Fingers crossed its Scottish Power

Why do you hope it's SP?

worrywart_3

manic37 said:

m-holland said:

Fingers crossed its Scottish Power

Why do you hope it's SP?

 Maybe because they are awful, worst service I’ve ever recieved although eventually my issue was resolved very much to my favour, but my god it was painful 😖 

keiran

I wouldn't be surprised if it's BG/Centrica

I've seen the value of my shareholding drop by 85% over the last couple of years - maybe I'll suffer a loss all the way down to 100% now .

What a dog of a share.

Have to wonder how new energy entrants were vetted by Ofgem and got through the appraisal process and whether Ofgem will bear any responsibility for this debacle.