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Energy companies

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woodbine
woodbine Community member Posts: 11,621 Disability Gamechanger
edited September 2021 in Coffee lounge
As four of the Uk's smaller energy companies are expected to go bust this week, Bulb the 6th largest is urgently seeking funds to stay in business reports the BBC tonight, Bulb has 1.7 million customers, the smaller four have around 1 million between them.

Ofgem would step in to protect your supply/money if you were to be affected.
the wholesale price of gas has risen by 250% this year and electricity by around 150%.
2024 The year of the general election...the time for change is coming 💡

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  • L_Volunteer
    L_Volunteer Community Volunteer Adviser, Scope Member Posts: 7,978 Disability Gamechanger
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    Hi @woodbine, 

    Thanks for helping to increase our awareness about the difficulties currently being experienced by the UK's smaller energy companies. You have certainly provided facts that I was not previously aware of  :) It sounds really tough for the smaller energy companies at the moment which is sad as they are usually the most personal providers. Hopefully, things will start to improve really soon! 
    Community Volunteer Adviser with professional knowledge of education, special educational needs and disabilities and EHCP's. Pronouns: She/her. 

    Please note: if I use the online community outside of its hours of administration, I am doing so in a personal capacity only.
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  • lemurlover
    lemurlover Community member Posts: 14 Listener
    edited September 2021
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    Say yay to brexit.

    @L_Volunteer It's us who will pay for it not the companies.
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  • leeCal
    leeCal Community member Posts: 7,550 Disability Gamechanger
    edited September 2021
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    @lemurlover
    sky news reports 
    ‘Boris Johnson says issues facing energy companies and problems with supply chains are down to "the global economy coming back to life".’

    “This is my simple religion. No need for temples. No need for complicated philosophy. Your own mind, your own heart is the temple. Your philosophy is simple kindness.” 
    ― Dalai Lama XIV

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  • lemurlover
    lemurlover Community member Posts: 14 Listener
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    @leeCal Boris Johnson is a dishonest and incompetent buffoon.

    This is evidenced by

    a) UK energy prices now being the highest in Europe, compared to almost the lowest in 2017
    b) UK energy infrastructure being beyond dire and overreliant on gas for which we have no storage.
    c) We are hugeley reliant on gas due to the above, and our interlinks are trash.
    d) Our ETS is independent, so no wiggle room.

    There are outside factors of course, but the main ones are tory incompetence and brexit.

    As for the supply chain stuff.... it's far worse here than in the EU. It's not all brexit of course, stuff like semi shortages and the pandemic are definitely issues. But the fantasy that it hasn't made us far worse off, is just that, a fantasy.
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  • Ross_Alumni
    Ross_Alumni Scope alumni Posts: 7,652 Disability Gamechanger
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    As a Bulb customer, I am hoping something can be resolved.
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  • MarkM88
    MarkM88 Community member Posts: 3,127 Connected
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    Just in case this might help people:

    What happens if your energy supplier goes bust?

    • Customers will still continue to receive gas or electricity even if the energy supplier goes bust. Ofgem will move your account to a new supplier but it may take a few weeks. Your new supplier should then contact you to explain what is happening with your account
    • While you wait to hear from your new supplier: check your current balance and - if possible - download any bills; take a photo of your meter reading
    • If you pay by direct debit, there is no need to cancel it straight away, Citizens Advice says. Wait until your new account is set up before you cancel it
    • If you are in credit, your money is protected and you'll be paid back. If you were in debt to the old supplier, you'll still have to pay the money back to your new supplier instead

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  • woodbine
    woodbine Community member Posts: 11,621 Disability Gamechanger
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    lemurlover said:
    Say yay to brexit.

    @L_Volunteer It's us who will pay for it not the companies.
    its got nothing whatsoever to do with brexit, its another "perfect storm"
    2024 The year of the general election...the time for change is coming 💡

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  • lemurlover
    lemurlover Community member Posts: 14 Listener
    edited September 2021
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    @woodbine That's factually inaccurate. Interconnection and ETS costs are far higher, and that is purely because of Brexit. JIT gas storage has also been an issue, and pushed by this tory government. We are heavily reliant on gas yet store just 2% compared to the EU27 who store around 25%. Due to brexit we have no mechanism for covering shared capacity depletion.
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  • atlas47
    atlas47 Community member Posts: 238 Pioneering
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    woodbine said:
    lemurlover said:
    Say yay to brexit.

    @L_Volunteer It's us who will pay for it not the companies.
    its got nothing whatsoever to do with brexit, its another "perfect storm"
    Some pleasant reading for you about current situation and Brexit!


    Let us know what you think.
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  • woodbine
    woodbine Community member Posts: 11,621 Disability Gamechanger
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    If i'm honest I couldn't care less  :(
    2024 The year of the general election...the time for change is coming 💡

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  • woodbine
    woodbine Community member Posts: 11,621 Disability Gamechanger
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    Mike, i have not suggested anyone is stupid, i refuse to play that game with you or anyone, my position on brexit is simple it's happened and we have to get on with it, blaming everything on brexit will not get anyone anywhere, there are a number of things that have lead to a massive surge in energy prices and a quick google will explain it to anyone who is interested.
    2024 The year of the general election...the time for change is coming 💡

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  • Ross_Alumni
    Ross_Alumni Scope alumni Posts: 7,652 Disability Gamechanger
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    While the subject of Brexit certainly could be argued as being a strand to this, I think it would be straying off-topic to delve into what people generally feel about it and it's consequences. The situation with the energy companies is quite a huge one in itself, and I imagine many people have been worried over the past day or so about what is going to happen. Whether you do or don't think Brexit is a factor is completely up to you of course, but lets try to keep the conversation focussed on the subject at hand which is the energy companies, rather than straying deeper into other subjects on the side which risks the thread going off-topic.
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  • Ross_Alumni
    Ross_Alumni Scope alumni Posts: 7,652 Disability Gamechanger
    edited September 2021
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    I appreciate that @mikehughescq, and apologies if my post came across as though I was denying a link completely, I acknowledge that there is one there and have read plenty of stories on this over the past couple of days that have mentioned as much. I'm not familiar enough with the intricate details to comment further (nor do I consider myself to be wise enough on the subject :D ) so I would encourage people to read up on it if they are interested, see above links from Mike as examples.

    Of course everyone is very much welcome to talk about Brexit and everything that comes with it, again I apologise if you felt as though I was suggesting that we shouldn't discuss it at all. My point was more that, while we can acknowledge it as a factor in this situation and provide links to relevant resources, we should be careful that the thread doesn't stray off topic and become a conversation focussed on it as was implied by your comments towards @woodbine. 

    "So to be clear… is it that you accept that Brexit has screwed people over royally but see no value in acknowledging that in order to move forward or is or that you genuinely think it’s not an issue? Your posts consistently suggest it’s the latter but when queried you suggest it’s the former. "

    I recognise it isn't your intention to deviate from the subject and that there is a link there between energy challenges and Brexit, however comments such as this risk veering towards debating attitudes towards Brexit rather than how it has impacted the current energy situation. As woodbine says too, there are other factors that have had an impact here aside from Brexit.
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  • woodbine
    woodbine Community member Posts: 11,621 Disability Gamechanger
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    I think I have made my position on Brexit crystal clear and this thread as @Ross_Scope rightly points out has gone off subject, I have had my say so will not be making any further comments.
    2024 The year of the general election...the time for change is coming 💡

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  • chiarieds
    chiarieds Community member Posts: 16,103 Disability Gamechanger
    edited September 2021
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    I agree with @woodbine - my thoughts just prior to the EU referendum were that whatever happens, we just have to go with it. Yes, it's had implications, I don't think anyone doubts it, but Brexit has happened. IMHO however, whilst this thread may appear to have gone off topic (but I don't worry too much about that), & as you know read all the links you give, perhaps it would appear a tad confrontational to ask the OP about their stance on Brexit, i.e. rather than just give your comments/links relevant to the thread itself. As such you were addressing/questioning the OP rather than just commenting on the thread I feel.
    Surprised a member of the Scope team apologised.....
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  • chiarieds
    chiarieds Community member Posts: 16,103 Disability Gamechanger
    edited September 2021
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    Asking a question isn't confrontational; most members join asking one. My point was just to say that comments/links can be given without querying a posters thoughts/beliefs .....whatever. It's not that Brexit cannot be discussed, rather than it can be without commenting about another person. @woodbine s beliefs don't matter any more than mine, but he has a right to start a discussion, as does any member. Other members such as yourself can contribute, & no one has an obligation to respond, do they, whether they appear contradictory or not? Discussions can occur without the OP commenting further surely, or without them being questioned too.
    I see you've added to your comment, & I at least don't think you're being the slightest bit rude, rather that Brexit can be mentioned as & when appropriate, but without the need to query another.
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  • Sandy_123
    Sandy_123 Scope Member Posts: 50,016 Disability Gamechanger
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    Just had confirmation from my energy provider my gas going up by 200 and electric going up 250 April 1st
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