Discussion
Looks like it could be lights out quite soon as they are looking for someone to bail them out.
https://www.bbc.co.uk/news/business-58619418
https://www.bbc.co.uk/news/business-58619418
dmahon said:
Just spotted I’m £1k in credit with them.
Turned on all the heating to try to use it up before they go under!
In all seriousness, it’s an excellent product. I hope they survive.
It clearly isn't for the longer term health of the company.Turned on all the heating to try to use it up before they go under!
In all seriousness, it’s an excellent product. I hope they survive.
I'd get them to transfer your credit out. A few years ago I noticed my account getting into a lot of credit. Asked for it to be transferred out (no issues) and now keep a close eye on it to make sure it doesn't build up, just in case.
In a world where everyone is into their green kudos....where is all the gas demand coming from?
xt500e said:
Something they’re not telling us. Global demand for gas would remain relatively static so what’s going on - just saying high global demand this year is nonsense
Knock-on effects of the labour shortage maybe? I don't know how much natural gas is moved around the UK by HGVs, but presumably a reasonable amount.xt500e said:
Something they’re not telling us. Global demand for gas would remain relatively static so what’s going on - just saying high global demand this year is nonsense
There is loads of stuff going on: decommissioning of coal fired electricity generation, Putin playing silly buggers with gas supplies to Europe to get Germany to sign off the Nordstrom(?) pipeline - against EU energy law, rising demand in the far east etc etc and lack of investment in new capacity all means that the price is going one way.Murph7355 said:
In a world where everyone is into their green kudos....where is all the gas demand coming from?
It's not extra demand, it's Russia whacking up the wholesale price to dick us about and cause issues. If non essential industry can't afford it they won't run. We have a CHP gas plant on our production site running tens of 200k litre fermenters 24/7, and this is likely to hit us very hard going into autumn and winter as we cannot and will not turn them off. The smaller energy companies who rely on wafer thin margins are the ones who are going to sink. I was with The People's Energy Company (or Corbyn Power as I nicknamed it) and they have gone tits up, luckily as it was via LookAfterMyBills I'm being switched automatically.
Anyway in terms of Bulb, my best friend is quite high up in the company. He says "There is a lot of misinformation in that article. its a difficult time at the moment with crazy wholesale costs increasing and bit I believe that we should be ok".
He seems confident, with what CCI he knows, that they will ride it out.
I suppose since every KWh of consumption is costing them all money to ship, they might actually get serious about helping consumers save energy for once!
Seriously though, the energy retail business is f
ked. The market structure doesn’t work, innovation is strangled and things that could make a difference like flexible demand response and distributed energy generation are just not there yet because again, market structure restricts the speed of this stuff coming to viable markets.
Personally, I’m taking the price straight to the face as I’m on Octopus Agile that marks your price to the next day wholesale market, tomorrow’s prices below
Oof!
On the plus side, the meter hasn’t actually been putting out HH reads since June and I’m a week away from dragging my complaint to the ombudsman for a few quid compo.
Seriously though, the energy retail business is f
ked. The market structure doesn’t work, innovation is strangled and things that could make a difference like flexible demand response and distributed energy generation are just not there yet because again, market structure restricts the speed of this stuff coming to viable markets.Personally, I’m taking the price straight to the face as I’m on Octopus Agile that marks your price to the next day wholesale market, tomorrow’s prices below
Oof!
On the plus side, the meter hasn’t actually been putting out HH reads since June and I’m a week away from dragging my complaint to the ombudsman for a few quid compo.
gottans said:
Looks like it could be lights out quite soon as they are looking for someone to bail them out.
https://www.bbc.co.uk/news/business-58619418
not great news. https://www.bbc.co.uk/news/business-58619418
MrMan001 said:
HurryUpAndWait said:
Gas transported by HGV? It’s all pipes!
They definitely move LNG around on ships and trucks (and trains!), not sure if it's a large share of the market though.Vanity Projects said:
I suppose since every KWh of consumption is costing them all money to ship, they might actually get serious about helping consumers save energy for once!
Seriously though, the energy retail business is fked. The market structure doesn’t work, innovation is strangled and things that could make a difference like flexible demand response and distributed energy generation are just not there yet because again, market structure restricts the speed of this stuff coming to viable markets.
As far as I can tell, the "market" has had no benefits whatsoever, except to potentially enrich some participants. We'd be far better off with a single nationalised gas board again IMHO.Seriously though, the energy retail business is f
ked. The market structure doesn’t work, innovation is strangled and things that could make a difference like flexible demand response and distributed energy generation are just not there yet because again, market structure restricts the speed of this stuff coming to viable markets.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff