Energy costs up by £425

[Davidd]

Listening to the radio earlier today pensioners were calling saying the companies that had gone bust had hundreds of pounds of their money, the government should have seen that coming.

This. If my mum is anything to go by many of them have a reluctance to request their money refunded until it hits the £££’s ‘just in case’. Drives me potty.

[jmitch]

Does make you wonder just exactly what the energy regulator was doing.

They were handing out supply licenses like they were f****** smarties to every tom dick and Harry, creating these very situations.

Apologies if repost but noticed this nugget Press Release on Ofgem website:

Ofgem is issuing suppliers Colorado Energy, Igloo Energy Supply Limited, Neon Reef Limited, Whoop Energy Limited and Symbio Energy with provisional orders, compelling them to pay around £765,000 in total for a government environmental scheme.
.

Tip of the iceberg.

Avro and green are leaving £100m of RO & FiT debt and it's all going to end up on ALL YOUR BIlLS next year. The process is called mutualisation. All regulatory debt payable to ofgem just gets shared among the suppliers left standing and they obviously have to pass it back to you.

Amusingly this means that avro customers will end up paying twice as it's something that they already paid for, but the suppliers failed to ringfence to pass to ofgem, maybe spending in on yachts and holidays, so now it will end up on bills next year.

A key factor in this problem is that ofgem allow companies to pay a charge that is up to 20% of their annual turnover in one lump a year in arrears, and often when they are asked to pay, they simply don't have the money.


The mutualisation alone will probably push a few more companies over the precipice.

When people go with a cheap, cowboy, too good to be true suppliers, all they do is compound this problem.
Maybe think about that before switching (or voting Tory)

And remember that the Italians and French have 15-18 times the gas storage each than we do, and roughly the same population, another example of Tory incompetence

[jmitch]

On 9th September national grid paid in excess of £80 per MWh just to balance the grid, pissing £40m away in just one day, at least tenfold what a normal day costs and the most expensive day on record.
Of the 10 most expensive days ever (beast from the east etc) 3 of them were In the first 10 days of September. (Edit: just checked the latest NG data and now 5 of the most expensive days in history are in the first 14 days of September)

We actually had to step in and bail out Ireland as they were about to have massive power cuts.

All these costs are an extra nail in the coffin of struggling suppliers and highlight the problems of the UK grid and our reliance on renewables and gas.

[reecie]

Well Avro looks to have been a bit dodgy https://twitter.com/i/events/1441308044009246720 Which kind of comes back to Ofgem doing a better job.

[David_D]

Well Avro looks to have been a bit dodgy https://twitter.com/i/events/1441308044009246720 Which kind of comes back to Ofgem doing a better job.

Was just about to post that story! Incredible - but in a bad way!

https://www.thetimes.co.uk/article/a...ners-x328n95qj

[sundial]

^^^^ Opportunist whippersnapper ... I should have researched AVRO before switching a few weeks ago. ... Now wondering exactly WHEN i'll hear from OFGEM ref their chosen new energy supplier for me ... I cannot cancel my DD to AVRO for fear of gas and electricity being 'cut off' if I withhold payments

Biggest cock-up since BREXIT ... also blame "refutin' Putin"

dunk