Sign of things to come? Utilities.

Bhuna50

Bhuna50

Author Level
I guess things are slowly taking it’s toll on the utility sector now.

Last week saw the demise of two suppliers, one of which was my electricity supplier, PFP Energy.

And then last night I get the email through advising that a third, Utility Point, my gas supplier, are also now gone.

Got to wait a couple of weeks now for Ofgem to complete the switch over to a selected supplier for them (British Gas for my electric apparently) before I can then arrange a switch.

this is a complete pain now as price caps are rising and prices have gone up hugely since I switched, but there are also warnings about these won’t be the last three companies.

hopefully can get switched before prices shoot up much more.

So much for gteed rates till dd/mm/yyyy from these companies LOL.
 
SpyderTracks

SpyderTracks

We love you Ukraine
Bhuna50 said:
I guess things are slowly taking it’s toll on the utility sector now.

Last week saw the demise of two suppliers, one of which was my electricity supplier, PFP Energy.

And then last night I get the email through advising that a third, Utility Point, my gas supplier, are also now gone.

Got to wait a couple of weeks now for Ofgem to complete the switch over to a selected supplier for them (British Gas for my electric apparently) before I can then arrange a switch.

this is a complete pain now as price caps are rising and prices have gone up hugely since I switched, but there are also warnings about these won’t be the last three companies.

hopefully can get switched before prices shoot up much more.

So much for gteed rates till dd/mm/yyyy from these companies LOL.
Click to expand...
If you're able to get service where you are check out Octopus energy for electricity. They're 100% renewables, incredible service and are normally very hard to beat from price point.

Each year, when we renew, their prices don't leap up like other suppliers. Can't recommend enough.

octopus.energy

Octopus Energy

Which? recommended for 6 years running and the UK's most awarded supplier. One of Europe's largest investors in renewable energy. Switch today!
octopus.energy octopus.energy
 
steaky360

steaky360

Moderator
Moderator
All energy suppliers are going to be upping their prices in the coming months as the regulatory body (Ofgem) has increased the cap on pricing...

I believe this is largely as a response to the wholesale price of energy (particularly electricity) increasing substantially in recent times. I think (although have no links to verify) that this is at least somewhat to blame for the smaller energy suppliers going bust, they were effectively being forced to sell the energy at a loss.

I hear lots of good things about Octopus Energy too, sadly were not able to take it up ourselves (weird-o electricity meters which they don't support).
 
Rakk

Rakk

The Awesome
Moderator
The prices have already gone up, the supplier I was with went pop earlier in the year (Green Network Energy or something like that), luckily the supplier that took over agreed to keep exactly the same prices that had been on my fixed tariff til the end of Sept (ie about two weeks away), so I've just had to switch, I think my bill is going up by nearly 20 quid a month what with the recent price rises - give that my bill was 46 quid a month, a hike of nearly 20 is a hefty hike (ie not far off 50%)
 
S

Steveyg

MOST VALUED CONTRIBUTOR
Firmus are still the only gas supplier in N. Ireland, at least the only one available in my side of the country. Last month they decided to increase the cost of their units by 35%, company is scum as soon as an alternative is available I'm gone
 
Bhuna50

Bhuna50

Author Level
SpyderTracks said:
If you're able to get service where you are check out Octopus energy for electricity. They're 100% renewables, incredible service and are normally very hard to beat from price point.

Each year, when we renew, their prices don't leap up like other suppliers. Can't recommend enough.

octopus.energy

Octopus Energy

Which? recommended for 6 years running and the UK's most awarded supplier. One of Europe's largest investors in renewable energy. Switch today!
octopus.energy octopus.energy
Click to expand...

Thanks, I might be looking to go to Octopus Energy as they do a tariff called Go which is good for charging your EV car overnight at a rate of 5p. I was originally going to go for this but didnt due to the off peak rate that came with it (we cant have tumble drier etc on overnight here as wife is paranoid it will catch fire and it would also disturb the dogs to much as they sleep near it). But now we are being 'forced' to change I will be doing my usual annual check earlier this year to look at best rates etc - I have a spreadsheet for everything LOL.

Also Audi gave us a link to get £90 towards first bill if we switched to Octopus :D

My OCD - takes a reading everyday and enters into my spreadsheet to keep an eye on costs etc LOL:

1631701329938.png


mileage, gas, EV charging, costs per mile compared with petrol prices etc to see how my EV is saving me money etc...

I'm a right saddo.

1631701437971.png
 
Last edited:
Martinr36

Martinr36

MOST VALUED CONTRIBUTOR
Bhuna50 said:
Thanks, I might be looking to go to Octopus Energy as they do a tariff called Go which is good for charging your EV car overnight at a rate of 5p. I was originally going to go for this but didnt due to the off peak rate that came with it (we cant have tumble drier etc on overnight here as wife is paranoid it will catch fire and it would also disturb the dogs to much as they sleep near it). But now we are being 'forced' to change I will be doing my usual annual check earlier this year to look at best rates etc - I have a spreadsheet for everything LOL.

Also Audi gave us a link to get £90 towards first bill if we switched to Octopus :D

My OCD - takes a reading everyday and enters into my spreadsheet to keep an eye on costs etc LOL:

View attachment 29261

mileage, gas, EV charging, costs per mile compared with petrol prices etc to see how my EV is saving me money etc...

I'm a right saddo.

View attachment 29267
Click to expand...
Do your figures tally with the bills, these spreadsheets remind me of when i used to work
 
Bhuna50

Bhuna50

Author Level
SpyderTracks said:
My word, was the last version sunset that went out of support like a decade ago? That's impressive.
Click to expand...
Yep - it still works :D.

Its not OCD as it could be - like I dont worry about cash withdrawals and where that money goes, but I have most things categorised and all bills and regular payments listed - so things like weekly shop etc all has an initial budget (never stick to it and its not rigidly enforced, but it helps me see an average of what comes out and in).

I even ensure I have an annual payment scheme savings account, which basically is a fund I put into monthly for anything that we pay quarterly or more - eg, my annual season ticket of £420, is a monthly transfer from my current account to my annual saving account of £35, then an annual transfer back to my current account of the £420 ready to pay the bill. So the annual payment scheme has a DD going in of about £200 a month as its used for an annual holiday amount, season tickets, concert ticket savings, 6 monthly dentist visits, annual payment for my domain names, VPN, etc.

And as you all know, I even budget for charity donations :D

All OCD with an excel spreadsheet for each month as well.... LOL :D :D

1631706363501.png



(Hopefully I will never get into the serious debt I got into when I was a compulsive gambler - so I have now gone from one extreme to another with regard to looking after my money).
 
SpyderTracks

SpyderTracks

We love you Ukraine
Bhuna50 said:
Yep - it still works :D.

Its not OCD as it could be - like I dont worry about cash withdrawals and where that money goes, but I have most things categorised and all bills and regular payments listed - so things like weekly shop etc all has an initial budget (never stick to it and its not rigidly enforced, but it helps me see an average of what comes out and in).

I even ensure I have an annual payment scheme savings account, which basically is a fund I put into monthly for anything that we pay quarterly or more - eg, my annual season ticket of £420, is a monthly transfer from my current account to my annual saving account of £35, then an annual transfer back to my current account of the £420 ready to pay the bill. So the annual payment scheme has a DD going in of about £200 a month as its used for an annual holiday amount, season tickets, concert ticket savings, 6 monthly dentist visits, annual payment for my domain names, VPN, etc.

And as you all know, I even budget for charity donations :D

All OCD with an excel spreadsheet for each month as well.... LOL :D :D

View attachment 29275


(Hopefully I will never get into the serious debt I got into when I was a compulsive gambler - so I have now gone from one extreme to another with regard to looking after my money).
Click to expand...
Was a fantastic program that, it's a real shame they didn't continue it.
 
D

DarTon

Well-known member
Energy prices for next-day delivery have quadrupled since the start of the year and are 10x higher than in Sep 20. What was £100/Mwh is now £414/Mwh. There is a short squeeze in the energy market and some of the smaller companies that didn't forward hedge their demand are going bankrupt. They took a gamble and lost.

The UK is being hit by a perfect storm of issues. Natural gas prices have tripled, as supplies are being redirected toward Asia without European inventories already low. Generation from renewables is struggling due to poor average wind speeds plus two power cables that export power from Ireland to UK are down. Five of our nuclear plants are offline. And now a cable that exports energy from France has gone down due to a fire. The National Grid has had to resort to restarting two coal power stations to bridge demand. The National Grid said in July that margins were the tightest in decades and it's only got worse since then.
 
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