My electricity bill has just tripled: how about yours? Alternative suppliers?

[ATOMIC SUPLEX]

I've just dropped my bulb payment down to the minimum allowed of £87.62 - I'm still in credit of over £220, which will increase by another £20 by the time my next months payment and DD are taken into account

I'm kind of OK allowing a controlled build up for the winter months (of which I'm predicting 4 maybe 5 will be increased usage)

Bulb? I thought they went bust.
Or rather I was on bulb and they went bust and I got moved to Scottish power.

 

[magneze]

Bulb? I thought they went bust.
Or rather I was on bulb and they went bust and I got moved to Scottish power.

We're still on Bulb.

 

[ATOMIC SUPLEX]

We're still on Bulb.

What was I on then? I was sure I was on Bulb.

 

[cupid_stunt]

Bulb went bust last year and is currently run by OFGEM on behalf of the government, whilst bids are considered from various companies looking to take them over.

Octopus joins Centrica, owner of Britain’s largest energy supplier British Gas, and Masdar, a UAE government-owned energy company, in contention for the remnants of Bulb.

Fellow British supplier OVO Energy is also weighing making a bid, but hasn’t yet entered the formal process, being run by financial advisors Lazard.

Bulb is the largest casualty of the ongoing gas crisis and one whose failure rewrote the regulator’s process for handling supplier exits. When it collapsed in November, Bulb supplied 1.7 million households, too many to be absorbed by rivals through the standard “supplier of last resort” mechanism, Ofgem said.

That meant the government had to step in to ensure those households continued to receive gas and electricity. It appointed a special administrator to run the stricken company, at great taxpayer expense.

The government has set aside up to £2.2 billion to keep the firm running – the largest state bailout since the Royal Bank of Scotland in 2008.

The bill included the cost of refunding the £254 million Bulb held in customer credit balances.

Bidders Line up for Collapsed Energy Supplier Bulb - Simply Switch

The 1.7 million households supplied by felled startup Bulb are closer to knowing which company is taking over their accounts, as two British energy giants

www.simplyswitch.com

 

[ATOMIC SUPLEX]

Bulb went bust last year and is currently run by OFGEM on behalf of the government, whilst bids are considered from various companies looking to take them over.

Bidders Line up for Collapsed Energy Supplier Bulb - Simply Switch

The 1.7 million households supplied by felled startup Bulb are closer to knowing which company is taking over their accounts, as two British energy giants

www.simplyswitch.com

Then how/why was I kicked off to Scottish Power and some people are still on bulb?

 

[cupid_stunt]

Then how/why was I kicked off to Scottish Power and some people are still on bulb?

No idea, mate.

Maybe they sold some customers to Scottish Power before they went bust.

When were you transferred?

 

[magneze]

They just sent me an email jacking up my monthly payments by another £40. Clearly I went straight back into the app and reduced them down to the minimum. Unfortunately they've upped the minimum so it's another £20pm. Feel like just cancelling DD tbh but not sure if it's worth the hassle. Are all the suppliers basically charging the same still?

 

[cupid_stunt]

They just sent me an email jacking up my monthly payments by another £40. Clearly I went straight back into the app and reduced them down to the minimum. Unfortunately they've upped the minimum so it's another £20pm. Feel like just cancelling DD tbh but not sure if it's worth the hassle. Are all the suppliers basically charging the same still?

If you cancel the DD they will give you notice they will put you on higher rates.

Hence why I've cancelled my DD with OVO two months in row, then set up a new DD for a lower amount.

 

[donkyboy]

So the French can force EDF to limit price rise to 4% and we can't?

 

[cupid_stunt]

So the French can force EDF to limit price rise to 4% and we can't?

That was done because of the election, and is costing EDF some £7bn, I guess if these high prices continue, EDF will end up being bailed out by the French government, i.e. the tax payer.

France has shielded consumers from energy price rises by imposing a four per cent cap on hikes to bills in 2022. It has also cut some tax on electricity to ease the shock, and offered a winter payment of €100 last December.

Emmanuel Macron, facing an election next month, watched on as state-owned energy giant EDF took a £7bn financial hit because of the price cap. Unlike in the UK, most of the market in France is concentrated in this one company, with around 85 per cent of the population using the traditional supplier.

However, the cost of living crunch as a whole, including rising prices for petrol and groceries, remain an issue. Mr Macron has pledged to subsidise petrol by 15c a litre. His main electoral challenger for the presidency, Marine Le Pen, has promised to go further, offering more cash directly to French people.

From energy prices to cheap bread, here's how countries are dealing with cost of living crisis

France has shielded consumers from energy price rises by imposing a four per cent cap on hikes to bills in 2022

inews.co.uk

 

[magneze]

So the French can force EDF to limit price rise to 4% and we can't won't?

CFU

 

[cupid_stunt]

And, of course, most electric in France is produced by nuclear power stations, the highest in the world, and they actually export electric, whereas the UK has failed in nuclear investment, meaning a lot of ours is produced by burning gas and ironically importing from France.

The main drivers behind the energy increases is the international wholesale prices of gas, and to a lesser degree electric, so France has a massive advantage over the UK.

 

[MickiQ]

So the French can force EDF to limit price rise to 4% and we can't?

The French government has an 85% stake in EDF kind of gives them a substantial say

 

[CH1]

Bulb went bust last year and is currently run by OFGEM on behalf of the government, whilst bids are considered from various companies looking to take them over.

Bidders Line up for Collapsed Energy Supplier Bulb - Simply Switch

The 1.7 million households supplied by felled startup Bulb are closer to knowing which company is taking over their accounts, as two British energy giants

www.simplyswitch.com

City AM has an interesting take on the "bidding war"

Octopus Energy locks horns with Centrica over market reforms as bidding war for Bulb lights up - CityAM

Two of the UK's biggest energy firms remain at loggerheads over key proposals to fix the industry by ringfencing customer balances.

www.cityam.com

 

[geminisnake]

And, of course, most electric in France is produced by nuclear power stations, the highest in the world, and they actually export electric, whereas the UK has failed in nuclear investment, meaning a lot of ours is produced by burning gas and ironically importing from France.

The main drivers behind the energy increases is the international wholesale prices of gas, and to a lesser degree electric, so France has a massive advantage over the UK.

France has an advantage over England, Scotland produces enough electricity by water, wind and solar, and a smidge of coal and nuclear iirc

 

[alex_]

The French electricity industry is also owned by the state who can decide that that power prices are flat.

In the U.K. even if you are on a green electricity tariff and all of your power is coming from solar; you are still paying an electricity price set by the price of gas.

 

[Cat Fan]

I have a key electric meter which is recharged at the local post office via E.ON ..

So far we have been paying about £10.00 a week.

The receipt says Tariff ID 135 .. I just buy £50.00 every 5 weeks or so.

There is no mention of how many units I am buying.

I guess one advantage of a prepayment meter is you only pay for what you use. Unlike all the stories on here of people being forced to up their DD to cover what they may use this winter

 

[dessiato]

I've been looking at the bills for here, one bed flat, Galicia, and the house in Scotland. Our bill here is about €300 for three months. The house is about €300 a month. The house is empty at the so I expect to reclaim the over payment. They're basing it on my f-i-l usage I suppose. This is going to hurt when we get back.

 

[dessiato]

So the French can force EDF to limit price rise to 4% and we can't?

Similar thing in Iberia. The EU has an Iberian exclusion which means that both Portugal and Spain have set limits on fuel prices. Of course there's no obvious reason the UK couldn't do similar, if it chose to. But profits...

 

[two sheds]

Was thinking this might be useful for you dessiato .

I got a phone call from a Nottingham number yesterday going through some questions then telling me I'm eligible for an Eco grant. I checked and quite a few people have thought this was a scam number. It does however look kosher. These are the grants including internal and external insulation, loft insulation, heat pumps and others.

Are there any government grants for home improvements or house repairs available?

Are there any government grants for home improvements or house repairs available? Check if you qualify for a Government insulation grant in under 2 minutes with Free Insulation Scheme.

freeinsulationscheme.org.uk

Am tempted by loft insulation and internal wall insulation, will discuss when I get a phone call (I presume) from a local installer.

 

[contadino]

I put off getting cavity wall insulation for a total of 4 years because bastards kept saying that I could get it for free using a grant. Then they'd fuck about and nothing would come of it.

In the end we talked to a company and had it done. Cost £1200 18 months back and I suspect that it'll have paid for itself in another 18 months.

I think these sorts of grant are designed to be at best a zero sum formula and quite likely an institutional racket. i.e certified installer racks their prices up to absorb any grants. Quite often it's cheaper and less hassle to just do it off your own back.

 

[Cat Fan]

Loft insulation is normally the most bang for your buck. Definitely worth it.

I put down some extra myself when we bought our last place. Most lofts don't have enough.

 

[two sheds]

Yes will go for the 100mm to 300mm loft insulation topup if I can. I must say I'm tempted to ask about internal wall insulation too though. Probably only on the north and east walls where it's possible since those are the coldest walls and I could get away with losing a bit of room space there. I've put up insulating wallpaper already so I'm not sure how it would affect the dew point but will ask.

 

[Cat Fan]

It's probably already been said elsewhere, but draught proofing, like getting the little strips that go under the doors, is also reasonably cheap and for us made a huge difference to how warm it feels in winter.

(This is assuming you already have double glazing so windows won't be draughty)

 

[two sheds]

I've put up secondary glazing (nice wood sash windows I don't want to fuck with) with magnetic strips which work well, and some draught proofing but am also thinking of trying to do secondary type glazing for a small external upstairs door because I think that's where most leakage will come from.

 

[muscovyduck]

It's probably already been said elsewhere, but draught proofing, like getting the little strips that go under the doors, is also reasonably cheap and for us made a huge difference to how warm it feels in winter.

(This is assuming you already have double glazing so windows won't be draughty)

Anyone renting and panicking a bit about next winter, worth spending a couple hours on YouTube looking at this sort of thing. Probably the biggest difference you can make

 

[cupid_stunt]

Out of interest I thought I would check how much I should be paying for my electric & gas at the current rates, with standing charges & VAT it's just under £1500pa, so £125pm would be right now, whereas I only got it reduced from £171 to that back in time for my Feb. bill.

The price cap is currently just under £2000, so I am using 25% less than that, it's estimated to be going up by £800 in October, so that should be £600 for me, and will increase my monthly cost to £175pm.

So, more than double the £80pm I was paying at the start of 2020, I wish I hadn't worked that out now.

 

[cupid_stunt]

City AM has an interesting take on the "bidding war"

Octopus Energy locks horns with Centrica over market reforms as bidding war for Bulb lights up - CityAM

Two of the UK's biggest energy firms remain at loggerheads over key proposals to fix the industry by ringfencing customer balances.

www.cityam.com

OFCOM is siding with Centrica/British Gas, and any customer credits will have to be ring-fenced in a separate bank account, new rules should also stop companies increasing direct debts by more than is required. And, about time, this should have been in place long before.

New measures to better protect customers’ money and stop energy suppliers using some of their cash “like an interest-free company credit card” are to be announced on Monday by the industry regulator.

Ofgem said its package of “tough” measures was aimed at reducing the risk of more energy suppliers going bust, and would also include changes designed to stop firms raising customers’ direct debit payments by more than necessary.

The shake-up is intended to ensure that suppliers “can weather the ongoing storm” and to prevent a repeat of last year’s failures “that put unfair and unnecessary costs and worry on to consumers”.

Ofgem said the measures were designed to improve the financial health of suppliers so that they could stand up to any future shocks, especially over the autumn and winter. It added that if some did still fail, customer credit balances and green levy payments would now be protected.

“Currently, they are used by some suppliers like an interest-free company credit card,” said Jonathan Brearley, the chief executive of Ofgem. “Moving forward, all suppliers will have to have enough working capital to run, without putting their customers’ credit balances at risk.”

When a supplier fails, customers are moved to a new energy supplier with their credit balances intact. However, under the existing rules, the new supplier does not get the customer credit balances from the failed supplier, so the cost of replacing them is spread across all consumer bills.

The regulator has proposed rules that would require suppliers to place customer funds in a separate account, ensuring that any overpaid credit would be preserved in the event of a collapse.

Last month the government said some suppliers had been increasing people’s direct debit payments by more than was necessary.

Ofgem said its proposed changes also included a tightening of the rules on the level of direct debits that suppliers can charge customers, “to ensure credit balances do not become excessive”.

Ofgem to announce measures aimed at protecting money of energy customers

Regulator says shake-up is designed to cut risk of suppliers going bust and will change rules on credit balances in event of collapses

www.theguardian.com

 

[MickiQ]

When a supplier fails, customers are moved to a new energy supplier with their credit balances intact. However, under the existing rules, the new supplier does not get the customer credit balances from the failed supplier, so the cost of replacing them is spread across all consumer bills.

This is fucking outrageous I'm with Ofgen and (to my surprise) British Gas on this.

 

[alex_]

When a supplier fails, customers are moved to a new energy supplier with their credit balances intact. However, under the existing rules, the new supplier does not get the customer credit balances from the failed supplier, so the cost of replacing them is spread across all consumer bills.

This is fucking outrageous I'm with Ofgen and (to my surprise) British Gas on this.

And it’s so open to exploitation it’s ridiculous, it’s literally a reward to dishonest cowboy players.

Alex