Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
Page 1
    • JuneS
    • By JuneS 10th Jan 19, 12:38 PM
    • 42 Posts
    • 27 Thanks
    JuneS
    • #2
    • 10th Jan 19, 12:38 PM
    • #2
    • 10th Jan 19, 12:38 PM
    Quote:

    Bristol City Councilís energy company has posted a loss of £11.2m for the last financial year.
    ...
    The MD has resigned in the past month.
    Originally posted by Hengus
    Yet Bulb Energy made losses of twice that much, and they come on MSE where it seems they are hoping to continue to SPEND, SPEND, SPEND!, borrowing ever increasing amounts.

    Taxpayers have little choice in what they pay (although they do have the right to decide who they vote in), whereas private investers can (and do) pull the plug at any time.
    • wavelets
    • By wavelets 10th Jan 19, 1:09 PM
    • 849 Posts
    • 359 Thanks
    wavelets
    • #3
    • 10th Jan 19, 1:09 PM
    • #3
    • 10th Jan 19, 1:09 PM
    Oh dear, a rather predictable attempt by Hengus to presumably deflect the flack from the obvious finacial mire of his (2nd?) favourite supplier I posted about yesterday here:

    https://forums.moneysavingexpert.com/showthread.php?t=5948047

    Perhaps what is missing from Hengus's attempt is the fact that, not only is Bristol Energy supported by taxpayer as he says, but that last year Bristol Energy also posted over £8m loss, so only a very small relative increase yearly loss despite the large expansion in business.

    But perhaps in stark contast to the company I posted about yesterday, Bristol Energy is also reporting it has total assets of over £16m, (compared to owing about £26m), an almost doubling of last year's figure.

    Nice try Hengus, 4/10 if only for effort (as there is little substance, sorry)
    Last edited by wavelets; 10-01-2019 at 1:11 PM.
    • Nathan94
    • By Nathan94 10th Jan 19, 1:52 PM
    • 49 Posts
    • 12 Thanks
    Nathan94
    • #4
    • 10th Jan 19, 1:52 PM
    • #4
    • 10th Jan 19, 1:52 PM
    Quote:

    Bristol City Council’s energy company has posted a loss of £11.2m for the last financial year.

    But Bristol Energy has said it is not all bad news as the company has quadrupled its turnover for the same period, from £13.6m to £52.4m.

    The problem for most critics of the company is that it is owned by Bristol City Council and is therefore funded by the taxpayer.

    So far it is estimated that the council has invested some £27m in the firm to date and yet it is still operating at a loss. Unquote

    https://www.bristolpost.co.uk/news/bristol-news/taxpayer-funded-bristol-energy-reports-2391101



    And The MD has resigned in the past month.
    Originally posted by Hengus
    Well as I said a few years back in the appropriate feedback thread, I wouldn't touch them with a barge pole.

    But I also agree with wavelets above your attempt is shameful.
    You had 24 hours, and this was the best you could come up with?

    The news article itself is almost a week old now, and one would have thought as you have spent 24hours searching you would alos have found this news article from 6 months ago

    https://www.bbc.co.uk/news/uk-england-bristol-45049894

    As you will see, even Bristol City Council eventually came around to my assessment of this supplier, having switched & ditched them.

    But in regards to the £27m borrowed, that was always the plan ... and there was no intention to start repaying yet ... and the news article 6 months ago states it will be 2021 before it will start to be repaid with interest..

    The firm, Bristol Energy, was set up in 2016 and aimed to be "a force for social good" by reinvesting its profits back into the community.
    Ok, there have been no profits yets, but there were no plans for any yet.

    But the company does at least (at the time of that news article going to press) employ 180 people. That's 180 people that would otherwise be being susidised by local taxpayers for being unemployed.

    I think wavelets was generous with his 4/10 rating
    • Xbigman
    • By Xbigman 11th Jan 19, 1:15 PM
    • 3,168 Posts
    • 1,397 Thanks
    Xbigman
    • #5
    • 11th Jan 19, 1:15 PM
    • #5
    • 11th Jan 19, 1:15 PM

    As you will see, even Bristol City Council eventually came around to my assessment of this supplier, having switched & ditched them.
    Originally posted by Nathan94
    That's an extremely biased comment. Bristol council own Bristol energy but they don't control it. As far as Bristol council are concerned its just another energy supplier. Bristol council has a specific tendering process for their energy needs whilst Bristol energy has rules in place that prohibit them from giving any customer favourable treatment. Bristol council used a tendering process to select its new energy supplier and Bristol energy were beaten on price. That was it.



    Darren
    Xbigman's guide to a happy life.

    Eat properly
    Sleep properly
    Save some money
    • wavelets
    • By wavelets 11th Jan 19, 1:28 PM
    • 849 Posts
    • 359 Thanks
    wavelets
    • #6
    • 11th Jan 19, 1:28 PM
    • #6
    • 11th Jan 19, 1:28 PM
    ...

    And The MD has resigned in the past month.
    Originally posted by archived user
    It would appear the OP has done likewise since creating this thread yesterday...
    Last edited by wavelets; 11-01-2019 at 1:30 PM.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

324Posts Today

3,802Users online

Martin's Twitter
  • These scams are nothing to do with bitcoin. They are just scams. My view on bitcoin (though a little old now) a? https://t.co/i6rRIOr5hk

  • SCAM! SCAM! SCAM! I have nothing to do with 'Bitcoin trading' or any get rich quick type advert or scheme. Don't t? https://t.co/WjitDxAc26

  • Now I've heard it all. Apparently my politics is dictated by who follows me! You couldn't make this up. PS and for? https://t.co/hoPf6Jp34N

  • Follow Martin