Thu Oct 21, 2021 8:19 pm
#1877592
SkyD; we may know each other!!
Colonel Panic wrote:3 of the 13 energy companies that have gone bust since 1st September had less than 10,000 customers. One has to wonder how they ever survived in the first place with such a diminutive customer base.
https://www.bbc.co.uk/news/business-58959620
classgee wrote:And of course the customers who stayed with responsible suppliers who had sustainable business models still don’t know how much will be added to their bills for the next few years to subsidise the customers who were rescued from their cheap deals…
Flyingfemme wrote:Who's subsidising who?
The costs of taking on customers from failed suppliers can be recovered via an industry levy that filters through to consumers’ energy bills. Ofgem said these costs include “the ability for a supplier to also claim for a reasonable profit”.
...
The estimated £1bn cost of rescuing customers from suppliers that have failed since the start of August is expected to rise as more companies collapse. It will eventually fall on consumers.
classgee wrote:Basically all consumers will end up sharing the pain of a broken model. Including those who never switched from BG since privatisation and never gained a penny by doing business with the minnows that are falling like dominos at the moment...
classgee wrote:And of course the customers who stayed with responsible suppliers who had sustainable business models still don’t know how much will be added to their bills for the next few years to subsidise the customers who were rescued from their cheap deals…
skydriller wrote:Perhaps a daft question:
Im a little confused as to why, in a free market, if your energy contract has been broken by your supplier (going out of business), you are not free to find another? What ties you to Shell??
skydriller wrote:Perhaps a daft question:
Im a little confused as to why, in a free market, if your energy contract has been broken by your supplier (going out of business), you are not free to find another? What ties you to Shell??
Flyin'Dutch' wrote:The scheme protects your advance payments.Oh, so the reason these contracts were so low in price was because customers paid up front??? hmmm... now, what is it we always tell people about flying training??