Yes - I got in just at the right time. They raised prices two days later.
Oh, and Iām a huge fan of monthly billing and having Smart meters. I know exactly where I stand.
Aside those households that genuinely canāt have Smart meters fitted, I donāt know why some households out and out resist them. Iād hate to be in the position of ever being on outdated meters, most of which were fitted in the last century and havenāt been calibrated since the day they left the factory.
I find Octopus to be very competitive. Even if they werenāt, I make so much from referrals that Iād be mad to switch away from them! This year Iāve averaged around one referral per month, so that covers over half of my usage.
Thatās interesting. Out of curiosity I just obtained a quotation from Octopus. And nearly fell off my chair . Iām currently paying Ā£900pa with Pure Planet (fixed until February). Octopus are quoting from Ā£1,146 to Ā£1,502pa using the same anticipated usage (with three tariffs, two of which are fixed for 2 years). Itās a bit scary that my energy bills are going to rise so much in the new year.
Everyoneās energy bills will skyrocket unfortunately. Fixed tariff payments to energy providers while wholesale energy prices have risen substantially means the energy providers (who are still operating) have to claw back losses and cover themselves for the future. Big increases predicted.
Indeed. I just checked Octopus against my BG tariff and based on my actual useage, Octopus would cost me £124 more per year. Igloo, would cost me £132 a year more.
e-on next/Sainsburys Energy are cheaper based on my useage than Octopus, but still £76 a year more than my BG tariff and they are the two cheapest providers that I could find ahead of the rest. All this of course does depend on your geographical location, because some parts of England certainly, pay more than others.
Iād love to know exactly how you do this? Iāve tried on numerous occasions to refer people for various things, from energy to banking. Iāve had one person go for a referral on a home security camera and thatās it. You must have the gift of the gab lol!
āYou get Ā£50 for signing up, no minimum term, no exit fees. If you want to switch away after a month, you can. Itās like picking money up off the floor!ā.
Thatās sort of how my pitch goes⦠And itās all true!
Add in the fire a couple of days ago which knocked out the supply cable which brings in electricity from France, causing surging wholesale prices from the normal £40/KWh to £2500/KWh (yes, you read that right!) and a perfect storm is gathering.
Yeah, IFA1 down (0%) but IFA2 supplying still. The drop of renewables (wind especially) is causing a big problem.
At least weāve got a good relationship with France at the moment. Oh, waitā¦
And if this news story is accurate, I wonder how many of those are still currently accepting switches? I know if I were looking to switch energy provider now, I would personally be looking at one of the Big 6, even if it meant paying more.
This bit is the eye-opener for me:
At the beginning of 2021 there were 70 energy suppliers in the UK. Industry sources say there may be as few as 10 left by the end of the year.
If that comes to pass it really does indicate massive structural issues in the energy supply market - I can certainly understand there being a few suppliers that go under, especially those that cut to the bone to be the cheapest - but the vast majority of suppliers going under? Thatās completely dysfunctional.
I was just watching an interview on BBC News with a woman from Energy UK (I think it was) who said that she didnāt recognise those figures (i.e. only 10 remaining) and said that they werenāt expecting anything like that.
Iāll remember where I read that first when it becomes so
The problem with these very small energy companies, is that quite literally (apparently) anyone can start up an energy supply business. Iām absolutely not surprised so many small companies have collapsed out of existence in the last few years.
Perhaps itās time to Nationalise the energy market because as it stands, it appears to be a complete joke.
So, who wants to wager whether Bulb Energy are going to keep afloat
Theyāre practice of randomly increasing peoples bills for no reason had already made me worry they were struggling with having free cash flow. And theyāve been doing that for a while now.
I donāt really get the issue though? Are the large providers eating the cost and taking a loss? The cost of gas is the cost of gas and all the smaller providers usually increase the price at match as wholesale prices increase