Scottish Power criticise poorly run companies!

Ultrasonic

Deleted_User said:

SP have also been moaning about the tariff cap, and maintain that it is currently costing them £5bn a day, so want the market to reflect the true reality.

'Moaning' seems unnecessarily pejorative. Imagine you worked for a company that was being forced by the government to sell at a loss. It's a crazy situation for a company to be placed in, and speaking out about this seems totally reasonable. 

[Deleted User]

@Ultrasonic My heart bleeds for Scottish Power.

Also, as Monty Python said, contradiction is not the same as argument. 

[Deleted User]

EDF has now chipped into the debate, and doubts that it can take any more SoLR customers.

https://www.simplyswitch.com/edf-warns-it-may-not-be-able-to-take-on-more-customers-of-failed-suppliers/

I know that this is nominally an SP thread, but I think that this is relevant to all suppliers, especially the Big 6.

I suppose that Scottish Power is better placed than most because, as far as I am aware, it is a true supplier, in that it does actually generate its own energy, and is not just a glorified billing vehicle, like a lot of the others seem to be. 

savers_united

Ultrasonic said:

Deleted_User said:

SP have also been moaning about the tariff cap, and maintain that it is currently costing them £5bn a day, so want the market to reflect the true reality.

'Moaning' seems unnecessarily pejorative. Imagine you worked for a company that was being forced by the government to sell at a loss. It's a crazy situation for a company to be placed in, and speaking out about this seems totally reasonable. 

There does need to be a rethink on the cap, not to abolish it but limit its availability as a tariff so in times of high prices energy suppliers are not seeing thousands of their customers opting for a capped tariff. 

However SP do need to understand that the cap does also work for the supplier when prices are low, due to the 6 month lag with the review many customers are paying alot more at times when wholesale prices have fallen. 

The cap was intended as a lifeboat tariff so no one ended on an expensive standard tariff, those savvy enough would keep switching so the cap made no difference to them. However now it seems even serial switchers are opting to stick with the cap, and that is crippling suppliers who have simply not accounted for this amount of customers, having to go to market and buy more energy and sell it as a loss.

[Deleted User]

What would we pay no cap? 
Obviously variable I suppose but it will need to go down as soon as it does for the supplier?

[Deleted User]

Yes, they'd pass on any decrease immediately...