Avro Energy and Green both collapsed on Wednesday afternoon, hours after the sector's regulator warned "well above" hundreds of thousands of customers will have to be moved to new suppliers.
Avro Energy has 580,000 customers while Green Supplier Limited has 250,000.
Avro Energy and Green both collapsed on Wednesday afternoon, hours after the sector's regulator warned "well above" hundreds of thousands of customers will have to be moved to new suppliers.
Avro Energy has 580,000 customers while Green Supplier Limited has 250,000.
Have only had one bill so far, but managed to get on to the website earlier to download that and details of existing credit.
Have also taken photos of current meter readings in case they’re of any use, now think just to got to wait to hear from whoever takes the account over.
Edit to add: Had a fair idea they were likely to be in trouble when they sent an email earlier in the week with a link to a petition to sack the Business Secretary. That didn’t seem like a good sign at the time!
Avro Energy and Green both collapsed on Wednesday afternoon, hours after the sector's regulator warned "well above" hundreds of thousands of customers will have to be moved to new suppliers.
Avro Energy has 580,000 customers while Green Supplier Limited has 250,000.
What I don't understand is have the companies 'sold' energy in the form of a fixed rate that that hadn't forward bought. I know the Futures market involves buying the right to buy something at a fixed in the future. But how can energy firms agree a rate with customers for something they haven't actually bought/secured?
What I don't understand is have the companies 'sold' energy in the form of a fixed rate that that hadn't forward bought. I know the Futures market involves buying the right to buy something at a fixed in the future. But how can energy firms agree a rate with customers for something they haven't actually bought/secured?
A bit like Life Assurance companies selling guaranteed annuity rates that were too high.
What I don't understand is have the companies 'sold' energy in the form of a fixed rate that that hadn't forward bought. I know the Futures market involves buying the right to buy something at a fixed in the future. But how can energy firms agree a rate with customers for something they haven't actually bought/secured?
good question .. and that's why so many have gone bust owing millions, some after paying hefty salaries and dividends to the owners. Enron this ain't but there are questions that need looking into and answering by the quango (Ofgem, probably useless, and why not OfgeN ?) responsible for the oversight of the industry
Flipper is closing down, with insufficient choice of supplier to be able to offer value to its customers. I was using them and had done so happily for a quite a while but will have to do the research again periodically again myself now.
What I don't understand is have the companies 'sold' energy in the form of a fixed rate that that hadn't forward bought. I know the Futures market involves buying the right to buy something at a fixed in the future. But how can energy firms agree a rate with customers for something they haven't actually bought/secured?
good question .. and that's why so many have gone bust owing millions, some after paying hefty salaries and dividends to the owners. Enron this ain't but there are questions that need looking into and answering by the quango (Ofgem, probably useless, and why not OfgeN ?) responsible) for the oversight of the industry
The energy market in this country is not really regulated - it's pretty evident now how flawed the model is.
Avro Energy and Green both collapsed on Wednesday afternoon, hours after the sector's regulator warned "well above" hundreds of thousands of customers will have to be moved to new suppliers.
Avro Energy has 580,000 customers while Green Supplier Limited has 250,000.
What I don't understand is have the companies 'sold' energy in the form of a fixed rate that that hadn't forward bought. I know the Futures market involves buying the right to buy something at a fixed in the future. But how can energy firms agree a rate with customers for something they haven't actually bought/secured?
good question .. and that's why so many have gone bust owing millions, some after paying hefty salaries and dividends to the owners. Enron this ain't but there are questions that need looking into and answering by the quango (Ofgem, probably useless, and why not OfgeN ?) responsible) for the oversight of the industry
The energy market in this country is not really regulated - it's pretty evident now how flawed the model is.
What I don't understand is have the companies 'sold' energy in the form of a fixed rate that that hadn't forward bought. I know the Futures market involves buying the right to buy something at a fixed in the future. But how can energy firms agree a rate with customers for something they haven't actually bought/secured?
good question .. and that's why so many have gone bust owing millions, some after paying hefty salaries and dividends to the owners. Enron this ain't but there are questions that need looking into and answering by the quango (Ofgem, probably useless, and why not OfgeN ?) responsible) for the oversight of the industry
The energy market in this country is not really regulated - it's pretty evident now how flawed the model is.
What I don't understand is have the companies 'sold' energy in the form of a fixed rate that that hadn't forward bought. I know the Futures market involves buying the right to buy something at a fixed in the future. But how can energy firms agree a rate with customers for something they haven't actually bought/secured?
good question .. and that's why so many have gone bust owing millions, some after paying hefty salaries and dividends to the owners. Enron this ain't but there are questions that need looking into and answering by the quango (Ofgem, probably useless, and why not OfgeN ?) responsible) for the oversight of the industry
The energy market in this country is not really regulated - it's pretty evident now how flawed the model is.
Just had an email from Octopus Energy advising that the Avro energy account is being moved there on a tariff that will be cheaper than anything the big 6 are offering and lower than any fixed tariff they are offering new customers on their own website. I have to say, very efficient.
Just had an email from Octopus Energy advising that the Avro energy account is being moved there on a tariff that will be cheaper than anything the big 6 are offering and lower than any fixed tariff they are offering new customers on their own website. I have to say, very efficient.
Just had an email from Octopus Energy advising that the Avro energy account is being moved there on a tariff that will be cheaper than anything the big 6 are offering and lower than any fixed tariff they are offering new customers on their own website. I have to say, very efficient.
Anyone who knows a bit about computers can send out a generic email to a table of customers in a database. Probably got an intern on to it1
Let's see what happens when they actually have to do something!
Just had an email from Octopus Energy advising that the Avro energy account is being moved there on a tariff that will be cheaper than anything the big 6 are offering and lower than any fixed tariff they are offering new customers on their own website. I have to say, very efficient.
Anyone who knows a bit about computers can send out a generic email to a table of customers in a database. Probably got an intern on to it1
Let's see what happens when they actually have to do something!
I get that. What I meant was less than a week after Avro going tits up, Ofgem have allotted a new supplier who have a specific tariff and they've been in touch. I expected this to take 10-14 days, but I suppose they have had a bit of practice recently.
Just had an email from Octopus Energy advising that the Avro energy account is being moved there on a tariff that will be cheaper than anything the big 6 are offering and lower than any fixed tariff they are offering new customers on their own website. I have to say, very efficient.
Ok I'm setting myself up to be shouted at here but maybe this advice might be of use to some people.
I got pissed off with the amount I was paying for electricity about a year ago. It was mental at over £600 a month and that is taking into account that I have solar panels. I bought 40kw of battery storage and went to a tariff called Agile from Octopus. It basically charges the batteries when the grid prices are low ( a bit like trading ) it sounds complicated but it isnt as it does it automatically if you have a smart meter. Over the last year my electricity bill has dropped amazingly as my batteries are charged overnight at an average of 4p kw believe it or not quite a few times I have actually been paid to draw electricity when the grid needed to dump surpluses. It was an investment of £12k but it will easily pay back within 2 years. For most people the investment would be as high as you wouldnt need as many batteries. Just advising people to have a look into it and future proof yourself
Ok I'm setting myself up to be shouted at here but maybe this advice might be of use to some people.
I got pissed off with the amount I was paying for electricity about a year ago. It was mental at over £600 a month and that is taking into account that I have solar panels. I bought 40kw of battery storage and went to a tariff called Agile from Octopus. It basically charges the batteries when the grid prices are low ( a bit like trading ) it sounds complicated but it isnt as it does it automatically if you have a smart meter. Over the last year my electricity bill has dropped amazingly as my batteries are charged overnight at an average of 4p kw believe it or not quite a few times I have actually been paid to draw electricity when the grid needed to dump surpluses. It was an investment of £12k but it will easily pay back within 2 years. For most people the investment would be as high as you wouldnt need as many batteries. Just advising people to have a look into it and future proof yourself
Ok I'm setting myself up to be shouted at here but maybe this advice might be of use to some people.
I got pissed off with the amount I was paying for electricity about a year ago. It was mental at over £600 a month and that is taking into account that I have solar panels. I bought 40kw of battery storage and went to a tariff called Agile from Octopus. It basically charges the batteries when the grid prices are low ( a bit like trading ) it sounds complicated but it isnt as it does it automatically if you have a smart meter. Over the last year my electricity bill has dropped amazingly as my batteries are charged overnight at an average of 4p kw believe it or not quite a few times I have actually been paid to draw electricity when the grid needed to dump surpluses. It was an investment of £12k but it will easily pay back within 2 years. For most people the investment would be as high as you wouldnt need as many batteries. Just advising people to have a look into it and future proof yourself
Unless you live in a castle £600 a month for electricity (you never mentioned gas) is a huge amount. I kicked British Gas into touch because I was paying £150.00 a month and if you look above I do not live in a small house.
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Have only had one bill so far, but managed to get on to the website earlier to download that and details of existing credit.
Have also taken photos of current meter readings in case they’re of any use, now think just to got to wait to hear from whoever takes the account over.
Edit to add: Had a fair idea they were likely to be in trouble when they sent an email earlier in the week with a link to a petition to sack the Business Secretary.
That didn’t seem like a good sign at the time!
Must be a nightmare for millions on the bread line.
I was using them and had done so happily for a quite a while but will have to do the research again periodically again myself now.
https://refer.britishgas.co.uk/richardh-447
I have to say, very efficient.
Let's see what happens when they actually have to do something!
I got pissed off with the amount I was paying for electricity about a year ago. It was mental at over £600 a month and that is taking into account that I have solar panels.
I bought 40kw of battery storage and went to a tariff called Agile from Octopus. It basically charges the batteries when the grid prices are low ( a bit like trading ) it sounds complicated but it isnt as it does it automatically if you have a smart meter. Over the last year my electricity bill has dropped amazingly as my batteries are charged overnight at an average of 4p kw believe it or not quite a few times I have actually been paid to draw electricity when the grid needed to dump surpluses.
It was an investment of £12k but it will easily pay back within 2 years. For most people the investment would be as high as you wouldnt need as many batteries. Just advising people to have a look into it and future proof yourself
You could runs a cannabis farm for less.
I pay about £60pm for electricity and £60pm for gas (on average).
How big's your kettle?