Never Accept Headlines on Face Value

[said]

It is a bit like a scam really - we are told that there is a gas crisis, that Russians are accused of manipulating the gas supplies, gas price hikes force closure of fertiliser plants etc., etc., Believe what you will - but here is how this market works:

Suppliers get the energy from wholesalers - the prices change daily. Adding a small margin for profit they sell it on to customers in accordance with fixed prices capped by the government. So if there is a sudden high increase in wholesale prices the suppliers lose out on profits. Many companies hedge the investments, i.e. offset one against the other, but if they have made that too fine, they lose out. OK - so they go bankrupt. But millions of customers have signed agreements with those companies, confident in the fact that they are licensed and regulated by the government. But the government has refused to bail out loss making companies and the companies who are still going will not want to take o those customers with money losing contracts without being compensated for them.

The fact is that someone has to pay and it will either be consumers or the government if the situation is to be prevented from rolling out of control.

Always Follow The Money!

[Stuartli]

ISo

The fact is that someone has to pay and it will either be consumers or the government if the situation is to be prevented from rolling out of control.

Always Follow The Money!

So, thanks to Google, you're an expert on energy supplies to the general public now.

The system has been in existence for generations. Those who have chosen to go with suppliers who charge less than the large companies have discovered the old saying: "Buy cheap, buy twice".....

[silver fox]

The entire energy problems stem from the privatisation of public utilities, when essential services are sold to the highest bidder, whose only aim is to extract as much profit as possible from a guaranteed market, as soon as those profits vanish, so do the privateers, supply and service is not on their agenda.

[Stuartli]

The entire energy problems stem from the privatisation of public utilities, when essential services are sold to the highest bidder, whose only aim is to extract as much profit as possible from a guaranteed market, as soon as those profits vanish, so do the privateers, supply and service is not on their agenda.

Sorry, don't agree. I get excellent service from e-ON and, previously, nPower, which was taken over by e-ON last year. Same for United Utilities.

The problem has been that people have left the big five energy companies for cheaper offers from much smaller suppliers.

Fine if they can maintain such lower costs energy but, when it all goes pear-shaped as in recent weeks and they can't increase their charges to customers as necessary, they go bust.

So customers end up where they started, with the larger suppliers and learn the lesson of "Buy cheap, buy twice".

[gsgsgs]

Sorry, don't agree. I get excellent service from e-ON and, previously, nPower, which was taken over by e-ON last year. Same for United Utilities.

The problem has been that people have left the big five energy companies for cheaper offers from much smaller suppliers.

Fine if they can maintain such lower costs energy but, when it all goes pear-shaped as in recent weeks and they can't increase their charges to customers as necessary, they go bust.

So customers end up where they started, with the larger suppliers and learn the lesson of "Buy cheap, buy twice".

Why is it buy cheap pay twice?

I am an habitual switcher, each year comparing prices and switching if the saving is worthwhile.

I have fallen foul to AVRO going under but over the last 3 years I have saved circa £900 in comparison to staying with the big companies.

I am looking at paying £200 more after being moved to Octopus but to quote Martin Lewis, it's hopefully a glitch and you are still in pocket as you've saved over previous years.

I also don't understand the "great service" quotes with energy companies, so long as I flick a switch and my lights come on I don't care who provides the electricity, similarly with gas, if you have a fault you don't call your supplier you call your local network operator, same with gas you call National Gas Emergency helpline, so what great service is being offered?

[Stuartli]

Why is it buy cheap pay twice?



I also don't understand the "great service" quotes with energy companies, so long as I flick a switch and my lights come on I don't care who provides the electricity, similarly with gas, if you have a fault you don't call your supplier you call your local network operator, same with gas you call National Gas Emergency helpline, so what great service is being offered?

Buy cheap, buy twice because many people will now be transferred to much higher tariffs from new suppliers.

By great service, I mean for billing services and regular updates on payments and credit balance totals - some companies are not good in such areas.

[gsgsgs]

Buy cheap, buy twice because many people will now be transferred to much higher tariffs from new suppliers.

By great service, I mean for billing services and regular updates on payments and credit balance totals - some companies are not good in such areas.

As I said, I am being moved to Octopus Energy and will be paying more but the increase is considerably less that what I've saved over the years.

Once things settle down I will be looking around again for a better deal if it can be found, but my email from Octopus says

"We will be in touch with your rates and charges soon, but they will be cheaper than anything available from any other large supplier today — and cheaper than the fixed prices we’re currently offering new customers on our own website."

But to contradict myself, personally, essential services shouldn't be put out to an open market, I would happily pay a little more for a set price from 'National Electric' or 'National Gas' if it meant my elderly neighbour who doesn't have access to a computer paid the same set price, cheaper than the standard tariff they are on as they haven't switched since you had no choice other than Manweb.

[Desert Region]

Never Accept Headlines on Face Value

Are you recommending Botox?

[Stuartli]

As I said, I am being moved to Octopus Energy and will be paying more but the increase is considerably less that what I've saved over the years.

Back in 2017 i settled on a four-year fixed dual tariff with nPower, whioch proved equally as rewarding.

Although e-ON took over nPower last year, it fully honoured the remaining period of the agreement, which ended on March 31st this year.

[Toodles McGinty]

Are you recommending Botox?

That stuff is expensive even when you've only one face, never mind 3 or 4.

[Desert Region]

That stuff is expensive even when you've only one face, never mind 3 or 4.

More expensive still when you've a family with Neanderthal foreheads.
Very 'close-knit' Deep South(port) families can save on injection costs by sharing a syringe.
As the needle becomes blunter the bunch of pricks become less painful.

[salus.populi]

learn the lesson of "Buy cheap, buy twice".

You're not buying it twice though.
The gas you bought cheap was supplied and did it's job.

If the cheap one goes bust just move to the next cheapest one.

It's hardly the same as buying a cheap product that breaks and needs to be replaced with a more expensive one so the money spent on the cheap one was wasted.

[local]

You only have to pay once.
Why pay more for the same thing?

Even if your company goes bust you don't lose your money.

Pay the least once.

If you don't know how to just ask.

[local]

You only have to pay once.
Why pay more for the same thing?

Even if your company goes bust you don't lose your money.

Pay the least once.

If you don't know how to just ask.

[Stuartli]

You only have to pay once.
Why pay more for the same thing?

But you will be in this case....

Even if your company goes bust you don't lose your money.

No, but you will pay more. It's initially decided which supplier will now get your custom.

Pay the least once.

Awful lot of trouble it can turn out to be, as in the current circumstances for thousands.

If you don't know how to just ask.

People did ask, were advised to look for a cheaper deal and look where they ended up.

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