Energy Suppliers who have gone out of business.

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Chadwick
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Re: Energy Suppliers who have gone out of business.

Post by Chadwick » Mon Sep 27 2021 11:04am

Richard Frost wrote:
Mon Sep 27 2021 9:39am
I have yet to discover a compelling reason to get a smart meter. Except that it would save me having to kneel on the floor to read the gas meter.
parchedpeas wrote:
Mon Sep 27 2021 9:55am
When they pay me to take one, I'll consider it. Until then, not happening.
I'm on the fence. There's no strong reason to get a smart meter. As far as I know, the only 'benefit' is that it automatically provides meter readings. I'm not interested in finding out whether my cooker uses more power than an LED lightbulb.

But equally, I'm not against them. The new ones aren't tied to a single provider anymore, so you can change suppliers and the meter will still work. What else is 'bad' about them?

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Re: Energy Suppliers who have gone out of business.

Post by Richard Frost » Mon Sep 27 2021 11:18am

I am not aware that anyone has suggested they are bad. Just unnecessary, The only advantage as far as I can see is to the supplier, as much as the advertising might indicate otherwise.

parchedpeas
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Re: Energy Suppliers who have gone out of business.

Post by parchedpeas » Mon Sep 27 2021 12:00pm

Chadwick wrote:
Mon Sep 27 2021 11:04am
But equally, I'm not against them. The new ones aren't tied to a single provider anymore, so you can change suppliers and the meter will still work. What else is 'bad' about them?
They've got a remote shut-off switch in them too, which I think unacceptable in a 1st world country. No private company should have that control over an individuals access to essential services.

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Re: Energy Suppliers who have gone out of business.

Post by pabenny » Mon Sep 27 2021 12:02pm

Richard Frost wrote:
Mon Sep 27 2021 11:18am
I am not aware that anyone has suggested they are bad. Just unnecessary, The only advantage as far as I can see is to the supplier, as much as the advertising might indicate otherwise.
I think they're more of an enabling technology. Wholesale prices vary every half hour (they're set the day before). If my electric car takes 4 hours to charge, the optimum time is to charge it in the parts of the night when prices are lowest, rather than immediately I arrive home from work. In theory, a smart meter could manage this.

Likewise, if/when we have better battery technology, we could charge the batteries overnight when electricity is cheapest and then use the energy during the day.

Agree, though, that the benefits to the consumer right now are pretty small. If you're motivated by these things, you'll already understand what drives your bills, and have invested in efficient appliances and other things to reduce consumption.
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pabenny
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Re: Energy Suppliers who have gone out of business.

Post by pabenny » Mon Sep 27 2021 12:06pm

parchedpeas wrote:
Mon Sep 27 2021 12:00pm
(Smart Meters) have got a remote shut-off switch in them
Although that's true, you might want to understand the regulation around disconnections:

https://www.citizensadvice.org.uk/consu ... connected/

I think the bigger deal is forcing people who don't/can't pay onto pre-payment meters. Not only is the energy more costly, they also result in 'self-disconnection'.
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expressman33
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Re: Energy Suppliers who have gone out of business.

Post by expressman33 » Mon Sep 27 2021 12:47pm

Chadwick wrote:
Mon Sep 27 2021 11:04am
What else is 'bad' about them?
At the moment nothing . It's in the future when suppliers may start increasing the cost per KWH at peak times.

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Re: Energy Suppliers who have gone out of business.

Post by Richard Frost » Mon Sep 27 2021 1:31pm

expressman33 wrote:
Mon Sep 27 2021 12:47pm
Chadwick wrote:
Mon Sep 27 2021 11:04am
What else is 'bad' about them?
At the moment nothing . It's in the future when suppliers may start increasing the cost per KWH at peak times.
Or the opposite, by reducing them at off peak times. Its as wide as it is long and works both ways.
Even Amazon uses variable pricing, but they do not tell you in advance by publishing a tariff.
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Re: Energy Suppliers who have gone out of business.

Post by Richard Frost » Mon Sep 27 2021 4:51pm

Chadwick wrote:
Wed Sep 22 2021 4:15pm
Richard Frost wrote:
Wed Sep 22 2021 2:20pm
Green energy with 250.000 customers has ceased trading today.
As has Avro Energy (580,000 customers).
https://www.bbc.co.uk/news/business-58652083
Ofgem has appointed Octopus Energy to take on supplying Avro Energy’s approximately 580,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers.

https://www.ofgem.gov.uk/publications/o ... vro-energy

tonyg
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Re: Energy Suppliers who have gone out of business.

Post by tonyg » Tue Sep 28 2021 8:40am

I am with Avro and got email from Octupus Energy to say will be with them and I will get one of there great value tariffs. It will be cheaper than any other LARGE supplier today. Waiting with baited breathe :)

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Re: Energy Suppliers who have gone out of business.

Post by Sarah » Tue Sep 28 2021 11:55am

You might get a cuddly octopus too! ;)

The CEO of Octopus Energy was on Newsnight last week, confirming their business apparently isn't under threat for now, as they've forward-purchased energy sufficiently far into the future to cushion the current shocks. This is presumably consistent with cccashbacklover saying the Octopus Energy fixed tariffs already have an increase factored into their rates.
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