Avro energy collapsed

[Larrynwin]

I switched to Shell on 3 year fixed from Sept last

Elec day 21.94 night 13.94 std charge 38.48

Gas 4.15 std charge 28.29

initially concerned as quite an increase from previous deal but not bad after all.

 

[westhamman]

My gas/electric deal with So Energy ended on the 7th of February, I am a fan of Martin Lewis and was going to go on to the standard rate, having looked at the outlook of the prices I however took a 2year fix, nearly doubled my bill, but by the look of it, it maybe the correct decision.

 

[Hirsch]

I switched to Shell on 3 year fixed from Sept last

Elec day 21.94 night 13.94 std charge 38.48

Gas 4.15 std charge 28.29

initially concerned as quite an increase from previous deal but not bad after all.

Good move I'd say.

 

[SpeedyDux]

From what I can gather the rise in standing charge is to cover the cost of bailing out the customers of the failed companies so their balances are safe - even if the companies had spent or otherwise lost the money. So just like the banks - in the good times they take the profits, in the bad times we bail them out.
By adding it on to the electricity standing charge it notionally spreads the pain. It could be argued that this should be a levy on the unit price instead (so heavy users pay more), from additional taxes on the energy companies or from central funds through general taxation. However it is done, someone has to pay and some will gain, some will lose.

Bear in mind I'm not saying the current way of doing it is the right way

Effectively spreading the cost of carrying forward the notional credit balances of those who were on cheaper fixed deals with failed energy providers.

The analogy that springs to mind is having to pay higher premiums to cover claims resulting from uninsured drivers having crashes. But, the difference is that is well-known and widely understood by motorists. Was anybody warned beforehand that we were all put into some kind of compulsory energy cost insurance scam scheme? I don't recall any warning or notification. Sleight of hand. Not fair.

Those notional credit balances are mere numbers because that money was lost when energy providers went bust. Therefore, the solvent energy companies are having to create the "transferred" balances out of thin air. And we are having to bear that cost. I never got a vote on that.

This big increase in the daily standing charge is unfair to customers who stayed with the solvent energy providers. We were paying more for our energy than the customers now being bailed out. Why should the rest of us pay for that bailout? The normal consequence would be for the customers of insolvent energy companies to bear their own losses. Instead, the government (via Ofgem) has rigged the market by auto-enrolling all of us into some kind of compulsory insurance scheme, so the energy sector doesn't have to bear the cost and neither do the transferred customers. Just the rest of us.

 

[Odd-no-more]

Effectively spreading the cost of carrying forward the notional credit balances of those who were on cheaper fixed deals with failed energy providers.

The analogy that springs to mind is having to pay higher premiums to cover claims resulting from uninsured drivers having crashes. But, the difference is that is well-known and widely understood by motorists. Was anybody warned beforehand that we were all put into some kind of compulsory energy cost insurance scam scheme? I don't recall any warning or notification. Sleight of hand. Not fair.

Those notional credit balances are mere numbers because that money was lost when energy providers went bust. Therefore, the solvent energy companies are having to create the "transferred" balances out of thin air. And we are having to bear that cost. I never got a vote on that.

This big increase in the daily standing charge is unfair to customers who stayed with the solvent energy providers. We were paying more for our energy than the customers now being bailed out. Why should the rest of us pay for that bailout? The normal consequence would be for the customers of insolvent energy companies to bear their own losses. Instead, the government (via Ofgem) has rigged the market by auto-enrolling all of us into some kind of compulsory insurance scheme, so the energy sector doesn't have to bear the cost and neither do the transferred customers. Just the rest of us.

I agree having had a couple of bad experiences with small providers I have kept to the big boys and now I'm having to pay for those who didn't. The energy market has never really worked confusion marketing with a multitude of different tariffs to baffle us all saw to that years ago

^{_{Subscribers  do not see these advertisements}}

 

[Minxy]

Why should the rest of us pay for that bailout? The normal consequence would be for the customers of insolvent energy companies to bear their own losses. Instead, the government (via Ofgem) has rigged the market by auto-enrolling all of us into some kind of compulsory insurance scheme, so the energy sector doesn't have to bear the cost and neither do the transferred customers. Just the rest of us.

I agree having had a couple of bad experiences with small providers I have kept to the big boys and now I'm having to pay for those who didn't. The energy market has never really worked confusion marketing with a multitude of different tariffs to baffle us all saw to that years ago

I suspect many of those on the 'cheaper' deals with small companies were those who could least afford to pay in the first place ... if they were the ONLY ones having to foot the bill for the insolvent companies many wouldn't be able to afford energy at all.

 

[SpeedyDux]

I suspect many of those on the 'cheaper' deals with small companies were those who could least afford to pay in the first place ... if they were the ONLY ones having to foot the bill for the insolvent companies many wouldn't be able to afford energy at all.

The problem with all daily standing charges (even before the latest increase) is that they penalise customers who are low energy users, trying to save money by using less gas and electricity. I don't understand how the government thinks the £200 loan for energy and £150 rebate on Council tax will be enough to stop them freezing next winter. As for the 3.1% CPI-related state pension uprating due in April, there was a Minister who said during an interview that inflation (measured by CPI, presumably) is likely to reach 10%. And the rest ...

 

[jessthedog]

I suspect many of those on the 'cheaper' deals with small companies were those who could least afford to pay in the first place ... if they were the ONLY ones having to foot the bill for the insolvent companies many wouldn't be able to afford energy at all.

We were all encouraged to shop around. I did it every year.
Looked at what my existing price was and change to a cheaper company
Same with car/home insurance banking etc.
The problem before this crisis was the mickey mouse companies that were allowed to even trade! Loads of chancers allowed to start up by useless OFGEM.

 

[TinaLes]

Question: if you were on a 2/3 year fixed rate tariff with a company that went bust, would your existing fixed rate tariff and fixed term remaining be carried over via OFGEM to "their" nominated new provider?
I can guess the answer, but I can dream cant I?
LES

 

[Odd-no-more]

The whole thing is a mess, companies are being forced to take customers from collapsed suppliers at a loss making rate, so they need to make the money back somehow. I have just received my notification for next year's state pension, it's going up by about £500 energy bills going up by £2,000 and diesel up as well. Happy retirement

^{_{Subscribers  do not see these advertisements}}

 

[joe and sue]

If the energy companies . and all utilities were publicly owned and run, with all profits ]ploughed back in & not used to line the pockets of millionnaires, then we might not be in this situation.
Hire the best men / women for the top jobs, and pay the market rates, and accountable to the treasury, but no government interference.
In my view these small energy suppliers have been setup purely to fail after ripping people off, have the directors bank accounts and finances been fully investigated and used to pay off the creditors? I guess not and they are all sitting in their houses paid for indirectly by the rest of us "honest" peiople,

 

[Pablo19]

Question: if you were on a 2/3 year fixed rate tariff with a company that went bust, would your existing fixed rate tariff and fixed term remaining be carried over via OFGEM to "their" nominated new provider?
I can guess the answer, but I can dream cant I?
LES

No, you were right!

 

[Hirsch]

Effectively spreading the cost of carrying forward the notional credit balances of those who were on cheaper fixed deals with failed energy providers.

The analogy that springs to mind is having to pay higher premiums to cover claims resulting from uninsured drivers having crashes. But, the difference is that is well-known and widely understood by motorists. Was anybody warned beforehand that we were all put into some kind of compulsory energy cost insurance scam scheme? I don't recall any warning or notification. Sleight of hand. Not fair.

Those notional credit balances are mere numbers because that money was lost when energy providers went bust. Therefore, the solvent energy companies are having to create the "transferred" balances out of thin air. And we are having to bear that cost. I never got a vote on that.

This big increase in the daily standing charge is unfair to customers who stayed with the solvent energy providers. We were paying more for our energy than the customers now being bailed out. Why should the rest of us pay for that bailout? The normal consequence would be for the customers of insolvent energy companies to bear their own losses. Instead, the government (via Ofgem) has rigged the market by auto-enrolling all of us into some kind of compulsory insurance scheme, so the energy sector doesn't have to bear the cost and neither do the transferred customers. Just the rest of us.

I'm a 'transferred' customer. I think I am paying the price through increased standing charges but maybe you can tell me differently? Whatever the rights and wrongs of small energy companies (not defending the situation either way), isn't this how the free market works? The big six, or however many there were was just a oligopoly shafting us all. A bit like lots of sectors still. Mmmt that free market idea is crap when it goes tits because the taxpayer and/or customer bails out big industry and commercial services time and time again.

I wonder if a different model might work better .

 

[joe and sue]

I'm a 'transferred' customer. I think I am paying the price through increased standing charges but maybe you can tell me differently? Whatever the rights and wrongs of small energy companies (not defending the situation either way), isn't this how the free market works? The big six, or however many there were was just a oligopoly shafting us all. A bit like lots of sectors still. Mmmt that free market idea is crap when it goes tits because the taxpayer and/or customer bails out big industry and commercial services time and time again.

I wonder if a different model might work better .

Have a look at my post no 311, seems simple enough to me,
Oh i forgot we tried that years ago, and then decided to sell everything off at knockdown prices so that we could all get ripped off !!

 

[Hirsch]

Have a look at my post no 311, seems simple enough to me,
Oh i forgot we tried that years ago, and then decided to sell everything off at knockdown prices so that we could all get ripped off !!

I do know what I would prefer to see but I'd get dragged into a discussion I don't want.

^{_{Subscribers  do not see these advertisements}}

 

[Bailey58]

i changed to EON dec 2020. all electric and on economy 7
rates 17.381 day rate 9.215 night rate 7.350 standing charge
new rates 1/3/2022
23.491 day rate 12.452 night rate 24.469 standing charge
rates from 1/4/2022

32.911 day rate 17.445 night rate 42.331 standing charge

Do you know what tariff is that?


I've had a reply to my email re tariffs and my Igloo balance:

Thank you for the email.
Your direct debit for this month has been adjusted to £100 as you have requested.
Unfortunately, the next online v11 is no longer available.
This offer was for a limited period.
However, the Next Flex tariff offers the same price as Next Online v11 from 1st April until the 1st October.
Igloo has transferred your credit of £216.71 to your Eonnext account.
If you need further information, please don’t hesitate to get in touch again.

Sending positive energy
Benedicta Energy Specialist

Positive energy my a**e!

 

[Realist]

Had my email today from Octopus

I’ve turned every single thing off and only running my Tv, Sky, Router, Fridge and boil a kettle with just enough water to fill two cups.

Heating as and when needed.

And that’s without food and fuel for the car.

Countries gone mad and the rich getting richer and the poor getting shagged senseless.

 

[CazPaul]

Had my email today from Octopus

I’ve turned every single thing off and only running my Tv, Sky, Router, Fridge and boil a kettle with just enough water to fill two cups.

Heating as and when needed.

And that’s without food and fuel for the car.

Countries gone mad and the rich getting richer and the poor getting shagged senseless.

View attachment 594235View attachment 594236

Yes absolute dead same as my new prices from Octopus from 2nd April for electric(We don’t have gas it’s oil heating)

What an increase.

 

[AJM2]

Saved a fortune over the years by switching suppliers and fixing when it was obvious prices were rising but about to feel the pain like everyone else. Many of my extended family were too lazy to do anything about it when I pointed out the savings compared to their big company tariffs. You do wonder how many people will be able to cope with these increases, on top of food inflation, fuel and council tax increases.

 

[Realist]

Yes I have a feeling between a war, gas, fuel, food, jobs, air, life and breathing not much else now to takeaway from the working tax paying man of the uk.

This country has had it.

^{_{Subscribers  do not see these advertisements}}

 

[Minxy]

Question: if you were on a 2/3 year fixed rate tariff with a company that went bust, would your existing fixed rate tariff and fixed term remaining be carried over via OFGEM to "their" nominated new provider?
I can guess the answer, but I can dream cant I?
LES

Unfortunately as soon as you transfer to another company your original contract/deal is a dead duck.

 

[Hirsch]

Yes I have a feeling between a war, gas, fuel, food, jobs, air, life and breathing not much else now to takeaway from the working tax paying man of the uk.

This country has had it.

Don't forget. "We all have to pay for the pandemic".

Is anyone reading Lord Agnew and what he thinks of the government regarding fraud and bounce back loans etc.

I don't really want to pay for some bloody crook to buy a new house/car/lover or whatever (well I can understand the lover I suppose).

 

[Realist]

Buckle up campers times getting hard.

Feel sorry for the old peeps who can’t afford heating and now it’s doubled in price.

 

[Imala615]

Do you know what tariff is that?


I've had a reply to my email re tariffs and my Igloo balance:

Thank you for the email.
Your direct debit for this month has been adjusted to £100 as you have requested.
Unfortunately, the next online v11 is no longer available.
This offer was for a limited period.
However, the Next Flex tariff offers the same price as Next Online v11 from 1st April until the 1st October.
Igloo has transferred your credit of £216.71 to your Eonnext account.
If you need further information, please don’t hesitate to get in touch again.

Sending positive energy
Benedicta Energy Specialist

Positive energy my a**e!

No fixed tarrif , just Eon energy plan , they are now moving me to Eon next so cant check tarrifs yet but this was the email i received.

 

[denisejoe]

EOn and Eon Next - Price cap

1st figure - cap for typical user from 1 April; 2nd figure - cap for prepayment meter from 1 April

E.on/E.on Next

£1,971

£2,017

^{_{Subscribers  do not see these advertisements}}