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Special administration
oliverbrown
Posts: 522 Forumite
in Energy
Does putting a company into "special administration" solve much? At least when a company goes to a SoLR the most loss-making fixed tariffs can be cancelled.
It seems Bulb will just continue to lose money hand-over-fist, but under different control.
It seems Bulb will just continue to lose money hand-over-fist, but under different control.
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Yet another thread about Bulb, there.0
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It's actually on a wider point of special administration in general, but thanks for checking in.emmajones1976 said:Yet another thread about Bulb, there.
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Bulb only has one generally-available tariff, their vari-fair variable one. That was already at the Ofgem cap and we can expect it to continue unchanged.oliverbrown said:Does putting a company into "special administration" solve much? At least when a company goes to a SoLR the most loss-making fixed tariffs can be cancelled.
It seems Bulb will just continue to lose money hand-over-fist, but under different control.
N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Kirk Hill Co-op 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.2 -
QrizB said:Bulb only has one generally-available tariff, their vari-fair variable one. That was already at the Ofgem cap and we can expect it ton continue unchanged.
They have no customers on a fixed tariff that is considerably below the Ofgem cap?0 -
yes, thats confusing me a bit too - its not gone bust like any others so far, it is in effect leaning over a over a chasm with the taxpayer holding onto their collar to stop them falling in, so they can carry on losing money
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Not exactly many Bulb threads at the moment.emmajones1976 said:Yet another thread about Bulb, there.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
That's my understanding, yes.oliverbrown said:
They have no customers on a fixed tariff that is considerably below the Ofgem cap?QrizB said:Bulb only has one generally-available tariff, their vari-fair variable one. That was already at the Ofgem cap and we can expect it to continue unchanged.
N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Kirk Hill Co-op 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 -
Interesting. Which makes it all the more surprising they failed when they had much more control over their tariffs than companies offering fixed deals.QrizB said:That's my understanding, yes.1 -
Can we have one bulb thread moderators?
The light bulbs haven't gone out - Bulb is still in business albeit carrying on via a taxpayer bailout. The lights will stay on - and you will still pay your bills to them - for now.0 -
Again, my thread is on the wider point of special administration and the honouring of very unsustainable fixed tariffs in that instance.Rich2808 said:Can we have one bulb thread moderators?
It appears Bulb does not fall into this category, but Bulb might not be the last large company to go into special administration.
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