How stable are Octopus Energy? Are they strong enough to weather the current storm of bankruptcies?

[Stinsy]

Just the ill thought thread title potential needs changing imho please stinsy.

Maybe I overestimated the power of the questionmark? I’ll think of something less dramatic.

[Joeboy]

Octopus Energy Not gone bust, yeah!

[dan_b]

Suppliers who have gone bust

HUB Energy (August 9)
PFP Energy (September 7)
MoneyPlus Energy (September 7)
Utility Point (September 14)
People’s Energy (September 14)
Green (September 22)
Avro Energy (September 22)

Bulb, ( sixth largest supplier), has warned it is seeking emergency funding,
Igloo Energy is speaking to the same emergency funding firm as Green, which recently went under.

Have to say of those who have gone under or are publicly at risk, Bulb is the only one I've heard of?

[Mr Gus]

Hey stinsy, thanks for taking that target off their back.
in an age of internet searches a few bad words pertaining to a company can whip up a bad backwash effect, (a bit like a run on a bank) & they aren't deserving of that, which was my concern for the headline title of the thread.
Turbulent times.

[spread-tee]

Suppliers who have gone bust

HUB Energy (August 9)
PFP Energy (September 7)
MoneyPlus Energy (September 7)
Utility Point (September 14)
People’s Energy (September 14)
Green (September 22)
Avro Energy (September 22)

Bulb, ( sixth largest supplier), has warned it is seeking emergency funding,
Igloo Energy is speaking to the same emergency funding firm as Green, which recently went under.

Have to say of those who have gone under or are publicly at risk, Bulb is the only one I've heard of?

do any of the above companies do anything other than skim off a bit of profit? If they don't add any value or actually supply energy what is the point of them??

[AE-NMidlands]

They allow the City to "earn" lots of fees setting up their finance, and after that they shell out dosh to the Directors (who never have to pay back what they have siphoned off when a firm goes belly-up because it was all legitimate pay and other expenses, of course.)

If they were worth the money the firm wouldn't have failed, which is why I think they shouldn't be allowed to walk away from the firm's liabilities.
A

[spread-tee]

It seems like Del boys business plan, "hey Rodders I bought a load of cheap gas, we'll bung it in the lock up for a couple of months then flog it off for a tidy little earner" luvverly jubbly

This whole market thing is a waste of time and money.

Desp

[Stinsy]

But if there was an oligopoly there’d be no innovation, no Octopus. We need a system that allows 100 companies to compete for there to be one genuinely innovative company.

[spread-tee]

yeah that really worked well eh? Innovation isn't the sole preserve of competition. In any case most of us just want energy at a stable reasonable price.

Desp

PS, it's a crazy business plan to create dozens of sacrificial companies in the hope that one or two may innovate.

[Bugtownboy]

Octopus are taking on all of the Avro customers - Ofgem must think they’re going to be around for a bit

https://www.ofgem.gov.uk/publications/a ... pus-energy