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CNG ceases trading
I'm surprised not to see any comment on this on the board.
https://www.dailymail.co.uk/money/markets/article-10095625/Multiple-gas-suppliers-bust-week-CNG-Group-cuts-UK.html
If I'm reading it right CNG is one of the companies that energy companies hedge with, and they now can't honour the pre agreed prices. Who ever is dealing with them is now effectively un hedged.
Nasty if true
Darren
https://www.dailymail.co.uk/money/markets/article-10095625/Multiple-gas-suppliers-bust-week-CNG-Group-cuts-UK.html
If I'm reading it right CNG is one of the companies that energy companies hedge with, and they now can't honour the pre agreed prices. Who ever is dealing with them is now effectively un hedged.
Nasty if true
Darren
Xbigman's guide to a happy life.
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Comments
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It got mentioned a couple of times, just not in a dedicated thread. See eg.:N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill Coop member.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 35 MWh generated, long-term average 2.6 Os.1 -
The retail arm of CNG Energy collapsed yesterday.
https://www.bbc.co.uk/news/uk-england-york-north-yorkshire-59154894
Not too long after other energy firms were told by CNG to move to another shipper no later than the 30th.0 -
As far as I know, they only have business customers though, so no direct impact on residential consumers this time.tghe-retford said:The retail arm of CNG Energy collapsed yesterday.
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But don’t those business customers supply residential customers, or am I thinking of another CNG. Are we talking gas here? I seem to recall one of their customers was Zog Energy.0
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