We’ll, this sucks!

[cojmh]

I double checked and it seems that Good Energy is exempt from the price cap, here is the info:

Good Energy Exemption

[AE-NMidlands]

The behaviour made me wonder who owned it - and whether it had some or any social benefit ethos. The answer seems to be just shareholders and "no!"

It reminded me a bit of Ecotricity who I was once with, who deliberately sold at the average of the Big 6 prices, the justification being that a) any surplus went into building new renewable generation and b) high prices encouraged people to be frugal! I left when I realised I was paying over the odds to put more generating assets into Dale Vince's own pocket (as it was wholly owned by him.) This looks to be a very similar scam, milking people prepared to pay a bit over the odds for green power, when we know that it should be cheaper.

Wikipedia says about Good energy:

In early 2016, 6.8% of the shares of the company were bought by rival energy supplier Ecotricity, making them the second largest shareholder.[16] Ecotricity increased their holding to almost 25% in October 2016.[17] In July 2021, Ecotricity Group made a cash offer for the rest of the shares which implied a value of almost £60 million for the whole company. The offer was rejected by Good Energy on 22 July[18] and the bid lapsed after failing to reach 50% acceptance by shareholders.[19]

The rest of the article is worth reading too: https://en.wikipedia.org/wiki/Good_Energy
I would definitely move away from them.
p.s. and in 2020 they made £3.2 million gross profit on a turnover of £103 million.

[SafetyThird]

Thanks for the links, that makes interesting reading. I started using them, and stayed with them, because I felt it was worth paying a bit extra to support and encourage a company that invests in, and supplies, green energy.

However, there’s a limit to that and not being protected by the price cap is unreasonable. Last year our annual bill was £2200, with the latest rise it’s projected to be £5800.

Even with the install of batteries I’m about to do and timeshifting power use, it certainly makes me look elsewhere for a provider but I’d like to keep some green credentials in the mix.

[Stinsy]

Have a look at Octopus…

[AE-NMidlands]

Have a look at Octopus…

I'll second that. Ticks all your boxes - as long as they can afford to accept new customers and don't quote a hgh rate to avoid damaging themselves financially.
People here seem to do well actually talking to them too...
A

And on the subject of enegry tariffs, the boss of Scottish Poweer was on R4 this morning, reported here https://www.bbc.co.uk/news/business-61373482

Keith Anderson, chief executive of Scottish Power, told the BBC that another expected rise in energy bills in October to between £2,500 and £3,000 a year could see huge losses for suppliers and many customers unable to pay their bills.
He warned regulator Ofgem that setting the new price cap too low could risk suppliers collapsing or the foreign owned firms leaving the market....

Scottish Power is also concerned that energy companies will sustain further big losses if Ofgem sets the new energy price cap - due to take effect in October - too low.
Wholesale gas prices have fallen sharply since the all time records set in March.
However, many energy companies bought the gas they will supply this winter at prices much higher than current levels.
If Ofgem does not recognise this when it sets the new cap, some firms will have to sell at a significant loss threatening them with further distress or collapse which would further destabilise the market, according to Scottish Power.

It hadn't occurred to me that hedging would lock the high prices in...

[nowty]

Wholesale gas prices have fallen sharply since the all time records set in March.
However, many energy companies bought the gas they will supply this winter at prices much higher than current levels.
If Ofgem does not recognise this when it sets the new cap, some firms will have to sell at a significant loss threatening them with further distress or collapse which would further destabilise the market, according to Scottish Power.

It hadn't occurred to me that hedging would lock the high prices in...

Looks like my Octopus Gas Tracker tariff was the way to go even if I hardly use any.

15p standing charge and unit tariff for last month circa 5p / kWh, and today its only 3.1p / kWh.

[Stinsy]

Wholesale gas prices have fallen sharply since the all time records set in March.
However, many energy companies bought the gas they will supply this winter at prices much higher than current levels.
If Ofgem does not recognise this when it sets the new cap, some firms will have to sell at a significant loss threatening them with further distress or collapse which would further destabilise the market, according to Scottish Power.

It hadn't occurred to me that hedging would lock the high prices in...

Looks like my Octopus Gas Tracker tariff was the way to go even if I hardly use any.

15p standing charge and unit tariff for last month circa 5p / kWh, and today its only 3.1p / kWh.

That's amazing!

This is mine:



I'm relaxed about all except the standing charge at the moment because my combi only uses £5 worth of gas a month this time of year.

[SafetyThird]

Annoyingly, you can’t change to an EV tariff if you don’t have an EV. Might get one later in the year, depends on wife’s new job coming through. Otherwise, finding cheap rate overnight power seems difficult and every energy provider is telling you not to switch at the moment.

Maybe a dirt cheap old-ish EV would be worth it to get the tariffs.

[Moxi]

why not an E motor bike ? I presume they qualify or does it specifically state quad wheeled vehicles ? come to that does an E bicycle qualify as a vehicle ?? if so then I am in!

Moxi

[SafetyThird]

why not an E motor bike ? I presume they qualify or does it specifically state quad wheeled vehicles ? come to that does an E bicycle qualify as a vehicle ?? if so then I am in!

Moxi

Oh Lordy, the option of an e-motorbike…….. I’d have to sell the GS, not quite sure I can rip that away from me just yet. I figured the cheapest leaf would be an option but e-bikes might be an option.

I think the main thing is the need for a proper charger. I’d get a zappi as I have an eddi already. Can you charge bikes from a zappi?