Energy market

[Stinsy]

Nothing about this on MSM as far as I have seen. Surprising as energy prices hit the poorest hardest so this has a big consumer interest.

Had a look at the energy-stats website. Agile really is a car-crash at the moment. The lowest priced 30 min slot in the last week is 17p! With the maximum 35p being solid from 0730 to 2130 on lots of days. Baring in mind I pay 15p peak and 5p off-peak there is no reason to be on Agile if you can move to s different tariff.

See below from the same website. It seems this is a long term thing. Over the last 365 days the average cheapest 8x 30min slots has been 11p on Agile!

[dan_b]

Announcement on the Ofgem website

https://www.ofgem.gov.uk/publications/o ... les-energy

[Stinsy]

Announcement on the Ofgem website

https://www.ofgem.gov.uk/publications/o ... les-energy

I cannot imagine many customers will find the "new tariff" will compare favourably to their current/former tariff!

[Bugtownboy]

Thought, under the Ofgem rules, the new supplier had to honour your existing tariff for ? 6 months then give you the option of moving to one of their tariffs or leaving without penalty.

[nowty]

Thought, under the Ofgem rules, the new supplier had to honour your existing tariff for ? 6 months then give you the option of moving to one of their tariffs or leaving without penalty.

I'm afraid not, British Gas who now supply me gas after PFP Energy went bust last week, one of their FAQ was,

Will I stay on the same tariff?
No, as your energy supply is transferring away from PFP Energy you won't stay on the same tariff you were on with them.

We've created a competitive tariff just for PFP Energy customers, with no Exit Fees and in line with the Price Cap, to get you on supply with us smoothly and simply.

[Bugtownboy]

You’re right - I was thinking back when our previous supplier (Green Network Energy) ceased trading. We ported to EDF - their rate was competitive, not that dissimilar, but not as favourable.

We’ve now changed again - not sure how long this one will last

[Tinbum]

I think mine from Ebico to BG was exactly the same but then I don't recall ofgem being involved in that one.

[John_S]

I have just got an email from Octopus stating that my estimated gas bill will go up from~£700 to ~£900 per annum and another £200 if I moved to a fixed tariff.

Nothing on my Go tariff changing.

[Stinsy]

I got the same. I'm variable for gas so have been awaiting the inevitable rise. Wasn't as bad as I thought it might be. Am expecting further increases if the wind doesn't start blowing or we get a cold snap. In the current market "Go" is an ASTONISHING electricity tariff, even the peak rate is WAY better than the standard prices on other tariffs. I'm expecting cheap-rate electricity on Go to be cheaper than gas this winter.




EDIT: Just had a look and Gas is responsible for c.58% of our electricity production right now!

[AE-NMidlands]

Reading that more small suppliers are likely to go bust, I realised that I have no idea how many suppliers there are...
https://www.theenergyshop.com/energy-suppliers has a list, copying and putting it into a spreadsheet shows a total of 84, the vast majority smaller than Green Energy, which is in 18th place.

Rank Name % Number
1 British Gas 19.00% 5,130,000
2 SSE 13.00% 3,510,000
3 E.ON 12.00% 3,240,000
4 EDF Energy 11.00% 2,970,000
5 Scottish Power 10.00% 2,700,000
6 npower 8.00% 2,160,000
7 Ovo Energy 5.00% 1,350,000
8 Bulb Energy 4.00% 1,080,000
9 Shell Energy 3.00% 810,000
10 Utilita Energy 2.00% 540,000
11 Telecom Utility Warehouse 2.00% 540,000
12 Octopus Energy 2.00% 540,000
13 Green Star Energy 1.00% 270,000
14 Co-Operative Energy 0.0100% 270,000
15 So Energy 0.0063% 170,000
16 Tonik 0.0046% 125,000
17 Pure Planet 0.0037% 100,000
18 Green.Energy 0.0004% 10,000
19 Affect Energy -

Octopus looks quite small, but it does sell all the coop power too. The webpage has a very complimentary write-up about them, says unusually well capitalised and professionally managed...
A