I agree on oil prices. Not only has drilling been slow for years due to a depressed oil price, but the turn against fossil fuels in recent years has also led to investment funds turning away from oil/gas and Govs around the world becoming more hostile towards approval of new developments. I recently read an interview with the CEO of Chevron who stated that it's so difficult to gain approvals to drill now as investors are hostile and the industry is not socially validatied, so it's easier not to and 'see what happens'. The implication being of course that pretty soon the oil price will skyrocket and I expect that the majors will record profits by doing nothing. I can see oil spiking way over $200/bbl within a year.
There has been no transition period away from oil, society has turned its back on it as though it's an old and redundant industry.
We are screwed, as we will soon see!
Last edited by mondie; 5th October 2021 at 22:32.
Oops, didn't realise this is in G&D. I wonder how the shareholders of Exxon are feeling after the events of recent months while paradoxically, watching their share price rise.
The forecast for the next 10 days is high pressure and calm weather with light winds.
That will not help the spinny turny windmills that are capable of generating 25% of the UKs electrickery when it is blowing a hooly. Unfortunately they don’t do much in calm weather.
More coal anyone?
Thanks. I've actually emailed eon.next this morning and received a reply:
I haven't received a final bill so looks like i will be covered (and aligns to the MSE info). Fingers crossedAs you moved over to us as a change of supplier, Igloo should have produced a final bill for you, this means anything that was left in credit they would have been able to refund to you. Did you ever receive a final bill from Igloo?
Any credit or debit will only be transferred as part of the migration for customers who remained with Igloo, as you chose to change suppliers prior to this, this would not apply for you. However, if you have not received your final bill then any credit / debit would then be part of of the migration, meaning your credit would be transferred over to us.
I had inititiated a change of supplier from Avro to Sainsburys before any knowledge of Avro going bust - i had £200 approx in credit but no final bill produced - that being said my supplier changed to sainsburys (as planned) on 4th October.
Im unsure if my money is protected or will get lost in the system
Forgot to mention as i initiated a switch from Avro (before they went bust) to Sainsburys, a while later but before the switch i got moved to Octopus as Avro went bust, so i dont actually know if Octopus supplied me with any energy albeit it for a few days.
Its all a mess but hope it sorts its self out with relative ease!
I feel I have been hit twice here and my increase is way ahead of anything else I have seen on this thread. Timing was such that my deal was expiring in September and as mentioned on post #13 (maybe that explains my luck!) I was looking at a £750 increase. After much searching I found a supplier and plan with *only* a £510 increase. So taking the hit I signed up to Peoples Energy..... who promptly went bust just a couple of weeks later.
Whilst existing PE customers were told to sit tight, I wasn't sure if my transfer had started or not but waited to see if it went through. Since then a direct debit has been taken by Peoples Energy so assume my move continued despite them no longer operating. British Gas has since taken on PE customers and have just sent me their tariff. I expected the same or very similar to PE, but no, they have increased this by another £410 from the PE price!
So all in I am looking at paying just over £920 p.a extra for same use of gas and elec (roughly 50/50 split between both sources). Works out a 59% increase. :(
Green just took its monthly DD. I was going to cancel but then thought I should leave it in case Shell use it to refund the credit or take new payments.
It's all a bit of a mess, isn't it?
Last edited by Onelasttime; 8th October 2021 at 13:43.
I don’t know much about the energy market but have we seen a race to the bottom over a number of years through people switching constantly and prices being pushed lower and lower to a point where we see now are unsustainable?
And now they have done it to me, they wanted £120 P/M for the next seven months up from £60. I tried to change the dd to £80 but it doesn’t allow it so I cancelled, will do a reading at start of every month and they can email me my bill as I’m not a licensed credit broker and refuse to build up a huge credit with them.
I know this doesn’t help me if they fold and I get transferred but I couldn’t pay a more realistic higher amount (not ludicrous) that would see me in credit even with price increases.
Similar here with Bulb. They emailed me a couple of weeks ago asking for a one off payment of over £200 to ‘clear the debit on my account’. Of course I’m currently in credit though, and they are referring to the debit that will probably build up when the heating starts going on.
I find it all somewhat underhand. I know I will need to pay more and am happy to up my direct debit. But sending them £200 now when all this is happening… I think not. Mr Smith - just as a note on this they said there was a minimum I could up the DD to, but I tried at lower and it was accepted.
I’ve been with Bulb for three or four years now - I just CBA to be switching supplier every few months to save a few quid. Personally I never minded just paying a bill every quarter back in the day!
We moved to Green network energy in August 2020 after not having a fixed tariff the year before with Shell.
We had been paying GNE £56 a month until April at which point we were transferred to EDF upon GNE’s collapse.
In the 5 months since we have paid them £280 and apparently used £400 worth of energy and the DD has been upper from £56 to £118.
Makes me think - was I in the wrong for falling for GNE’s prices thinking £56 was right? Or are the companies to blame for carrying on in such a way?
Scandalous.
Yes that was the case for me when I went from £45 to £60 a few months ago but not an option today, it was £120 and I couldn’t go any lower than that.just as a note on this they said there was a minimum I could up the DD to, but I tried at lower and it was accepted.
I’ve just had a email form Octopus- tariff expires next month and have offered a loyalty fixed of £75, variable of £56 or normal fixed of £98
I currently have a DD of £39 and I’m in credit ( yes I live alone) and have a log burner too
Although they have estimated my gas usage of 1400kw - I used 450kw in the past 12 months - trying to get a bit of cash in their accounts?
I came close to switching last time round, but So Energy proved to be competitively priced so I stayed with them.
For those that must change, have a look at their tariffs in your area (postcode dependent, maybe).
If you decide to go for them, using this https://so.energy/r/SJMKKLHIH will save us both £40
'Against stupidity, the gods themselves struggle in vain' - Schiller.
Wow….
Just tried so energy - 9p for gas and 32p for electric - not sure at the moment there are any good deals tbh……
I am coming off a deal and it’s cheaper to go on to the SVR.
No doubt more suppliers will go bust over the coming weeks but where they are placed is a guessing game. OFGEM will need to make sure any SOLR issues are dealt with responsibly.
How can they subsidise customers until then?
I checked and for my economy 7 it was coming out at more for off peak than I’m paying for peak with Bulb (though for how long) and they would want a DD for over 2k a year when I currently pay about 700.
I know it’s going up but at those rates those on low income will be chopping down trees in parks and standing round braziers.
My deal ends start of December….whoever I go with it will basically double my monthly costs. If I go with the SVR at my existing supplier (So) then it goes up about 25%.
I don’t see the logic in locking myself into a 12 month deal at double the price when I can just go to the SVR and see how it goes,always bearing in mind that the cap will change next April.
Pure Planet and Colorado Energy ceased trading today. The former being significant as BP owns 24% so have decided to cut their losses.
Last edited by reecie; 13th October 2021 at 18:34.
thank god i signed upto a really long contract with locked price before this happened, one of the few times it has ever payed off doing it that way
Privatisation is a wonderful thing. Jesus wept.
Just received following from Octopus advising that I'll be put on their variable tariff following my changeover to Avro ... I have not cancelled my Avro direct debit ... happy to keep paying same knowing that OFGEM protects my payments.
But note what Octopus mentions ref AVRO customers who have cancelled their DDs.
When I tried to submit meter readings to my existing AVRO account at 09.40 this morning I was advised:
We're unable to retrieve your data at this time. We've added your request to the queue, check back in 15 minutes..
... but I was able to submit readings on the AVRO site at 09.48.
I'm happy to switch to the Octopus variable rate until such time as I complete investigations into alternatives ... prefer not to switch to a fixed rate elsewhere knowing that they are all likely charging high tariffs for new customers.
There is a possibility that energy prices might fall over the next few months ... in which case variable rates will likely fall too ... but existing fixed rates will not.
Earlier this week I received the refund due from OVO following my switch to AVRO ... OVO cancelled my direct debit at the time their refund appeared in my bank account.
The Octopus account may take a few weeks to set up ... meantime I continue paying the AVRO direct debit ... it is a protected payment
This is the Octopus email received this morning
Dear Duncan,
We’ve been provided your details by Avro Energy’s Administrators as someone who was in the process of switching to Avro when it ceased trading.
Your account is in the process of transferring to Octopus — to get you up-to-speed quickly, you’ll find the most recent email we sent to Avro customers below.
Here’s what you need to know:
Avro Energy ceased trading on September 26 2021, and your energy is currently transferring to Octopus Energy as appointed by Ofgem, the energy regulator.
For now, the best thing to do is submit a meter reading, and if you’ve cancelled your payments, set up a new Direct Debit.
You’ll find the most up-to-date information on our official Avro information page.
We’re already working with Avro Energy’s technology partners to get your switch underway. We’re awaiting the official appointment of the administrators before we can work with the Avro team directly, and agree on the process for both credit and debt balances. All credit balances are guaranteed and protected by Ofgem’s safety net.
We’ve had reports of people experiencing issues submitting meter readings to the Avro site. You can now send us a meter reading here to help us ensure a smooth transition. If you have multiple accounts, you can enter your Avro account number (eg. AVR21XXXX) and postcode (PE3 9PW) here for each account.
This is a new page we’ve set up with help from Avro’s technology partner, so while the address is different from the usual Avro website, your details are still secure.
If you’ve cancelled your Direct Debit, you can set up a new Direct Debit in your Octopus account with just a few taps.
You’ll need to create a password first, and you’ll notice your property and supply details haven’t yet transferred to your new Octopus account. They will soon.
You’re switching to our always-good-value variable tariff, Flexible Octopus. It’s priced £10 cheaper than the Ofgem Price Cap for the typical home, and cheaper than anything available from any other large supplier today — and cheaper than the fixed prices we’re currently able to offer new customers on our own website. It has no exit fees, so you’re always in control.
We’ll send a full breakdown of your rates and charges shortly. If you’d like to read our full terms and conditions, you’ll find them on our website.
Finally, if you’d like to choose a different energy supplier, we currently expect that should be possible from the end of November.
Q: My Avro account was in debit / credit. What will happen with my account balance?
A: Any credit balances are protected by Ofgem rules. We’re awaiting the appointment of Avro Energy’s administrators before we can agree the process, but we will make this as smooth as possible. We’ll update you on this as soon as we can.
Q: I’m moving in (or out) of my property, what should I do?
A: That’s no problem. Just reply to this email and let us know the details. We expect to start working through house moves starting from next week.
Q: I’m owed a Warm Home Discount payment. Will I still receive it?
A: If you’re expecting a payment as part of the 21/22 core group, you will receive it. We expect to receive full details within the next few weeks. If you’re interested in applying for the Warm Home Discount broader group, you’ll be able to do that once we’ve transferred your account to Octopus.
Q: I left Avro Energy some time ago. Why am I receiving this email?
A: We’ve been given your details by Avro Energy, but their information may not be up–to–date. Please reply to this email and let us know if you left Avro Energy before September 26th. We certainly won’t switch you to Octopus from any other supplier.
Q: I’ve switched to a new supplier since September 26th. What will happen?
A: If you’ve used a comparison site, or another company’s website, to switch since Avro ceased trading, the process may fail, be very slow or complicated. After Ofgem appointed Octopus to take over Avro Energy’s responsibilities the energy industry systems have started updating to reflect this, and switches will usually fail whilst these updates are underway. We’ll work hard to make switching possible but please wait to hear from us before trying to switch.
Q: Why didn’t I get a choice regarding the Ofgem decision?
A: Every energy meter needs a supplier to buy the wholesale energy it uses, to pay for distribution and transmission costs, and to take on regulatory obligations like safety. When Avro Energy ceased trading, Ofgem needed a supplier to take on these responsibilities immediately.
That’s it for now – we’ll be in touch again when there’s more you need to know.
Love and power,
Jon Paull
Operations Director
Octopus Energy
P.s. Who are Octopus Energy?
We are the only energy supplier to be recommended by consumer champions Which? for four years running, three time uSwitch’s Supplier of the Year, and backed by the £8.5 billion Octopus Investments.
Our mission is to accelerate the world's transition to renewable energy, and we believe in fair pricing and outstanding customer service.
Click here to unsubscribe
Last edited by sundial; 14th October 2021 at 10:09.
"Well they would say that ... wouldn't they!"
My email for AVRO was Flipper who managed my account (who also have "decided to close" as well they'd have to do admin), so couldn't change email address on profile, contacted Octopus directly advised them of email, still awaiting contact re new account. I had cancelled my DD but as had a few months credit not too worried about that, and had tried the Octopus "flew click DD" set up with my details but they haven't made the link yet. I'm sure it will all work smoothly...or if my usual luck with these things...
I switched from Avro before they went bust to Sainsburys.
Sainsburys started supplying on 4th October, so if Avro stopped/went bust on 26th September, i have a week or so worth of payments i owe to Octopus, still no other emails/comms from them since the initial one - also have about £200 worth of credit with Avro.
Much as I hate to link to the daily fail, Colorado energy are an off the shelf turnkey company set up by this guy back when ofgem were handing out licenses to anyone regardless of background/experience/capital
https://www.dailymail.co.uk/news/art...suppliers.html
Have a look at dyball associates on companies house and you will see that he has another 11 of these ready to sell to anyone who wants them, however I think only 2-3 have active ofgem licenses.
Keep an eye out for square 1, Mississippi, Idaho folding sometime soon
Last edited by jmitch; 14th October 2021 at 12:14.
I'm afraid that's no guarantee at all that you won't end up in the same boat if your supplier also goes bust.
Are you with one of the smaller companies? If so the likelihood is they haven't purchased your energy far enough in advance and will be going bust before winter is out
Big companies are risk averse and contract your power needs at the time you sign up.
Smaller companies haven't tended to do that.
Just like they take the 15% or so of all the revenues they collect, and instead on saving it up to pay their renewables obligation or purchasing renewable certificates, they spend it all on yachts, parties or growing the business. Then at this time of year ofgem ask for the money/certificates they should have been sitting on for 6-18 months (yes the cycle is ridiculously long and a cause of the problem) and they just say whoops, we don't have it and Go bust
Last edited by jmitch; 14th October 2021 at 12:32.
Avro have taken my mum’s DD on 8 October!! What’s that all about??
Avro have taken another DD this month.
What is a company that has gone bust and ceased trading doing taking even more money off me ffs!
That`s about 400+ quids worth of DD`s that has now gone out of my account to two companies that have gone tits up.
I can see it`s going to be a nightmare tracing/proving/claiming this back...
Unlikely to be a nightmare ... Ofgem guarantee you will receive full credit for any DD payments ... Octopus will contact you ref your AVRO DD and advise you it will be reconciled to your new Octopus a/c ... from which you can 'opt out' with no exit fee if you decide to find another supplier ... But it might take a few weeks to sort out as there are many thousands of AVRO customers' a/c's to transfer ... We have to be patient. Please read #284.
Last edited by sundial; 15th October 2021 at 11:22.
"Well they would say that ... wouldn't they!"
Strange this concept of supplier.
In reality all of our gas is supplied by the National Grid the other companies just bill us for it, hoping they can make money by buying forward or whatever clever stuff they can do on the markets until it goes tits up.
Ridiculous really (or is it just me?).
Latest advice on AVRO (in administration) website:
Avro Energy Limited in administration (“the Company”)
On 26 September 2021 Ofgem transferred the Company’s customers to Octopus Energy Limited as part of the Supplier of Last Resort (“SoLR”) regulated process. Energy supplies have remained secure throughout this process, with Octopus Energy Limited supplying energy to all customers from this date. The Company ceased supply of energy from 26 September 2021.
Following completion of the Ofgem regulatory process, on 29 September 2021 Mike Thomas Denny, Mark Granville Firmin and Paul Lewis Berkovi of Alvarez & Marsal Europe LLP were appointed as Joint Administrators to the Company
Support and advice is available on the Ofgem website for both domestic customers and non-domestic customers. Alternatively, if customers need additional support in England and Wales, they can call Citizens Advice on 0808 223 1133 or email them via their webform. In Scotland, they can contact Advice Direct Scotland on 0808 196 8660 or email them via their webform. Advice will also be shared on Ofgem’s twitter @ofgem and facebook channels.
Frequently Asked Questions
1. As a customer what do I need to do?
You do not need to do anything at this point other than take your meter readings as at 26 September 2021 (or as close as possible) and submit to Avro Energy Limited in administration in the normal way.
Your energy supply has been transferred to Octopus Energy Limited as at 26 September 2021. They will be in contact with you in due course to set up a new account. In the meantime, your energy supply is secured and will not be affected.
2. Should I take a meter reading?
Yes. Please take your meter readings as at 26 September 2021 (or as close as possible) and submit to Avro Energy Limited in administration in the normal way.
3. What happens if I have a debit balance?
Do not worry, the Company in administration will be in contact with you in due course with a final bill which will include all outstanding amounts.
4. What happens if I have a credit balance?
Do not worry, all overpayments will be transferred to your new energy supplier who will be in contact with you in due course.
5. What will happen to my Direct Debit?
You do not need to make any amendments or take steps to cancel your direct debits at this point in time. The Company in administration will be in contact with you regarding a final bill which will cover the period up to the point of the supplier switch. Any energy used after this point will be billed by your new energy supplier, Octopus Energy Limited.
6. What will happen if I’m already in the process of switching supplier?
If you are in the process of switching suppliers, it would be expected that all switches will go ahead as expected (which would generally be subject to industry rejections and/or customer action (i.e. cooling off period)). Please contact your new supplier if you have any queries.
7. What happens if I have already switched supplier?
If you have already switched supplier, you do not need to do anything. The Company in administration will be in touch regarding any outstanding amounts owed in the form of a final bill. If your account is paid up to the date of your departure, you will not need to take any further action.
8. What happens if I’m moving to a new house?
If you are about to move to a new house, then Octopus Energy Limited will now be managing your energy supply. They will be in contact with you in due course and you will need to notify them regarding a change of address. If your move out date was before Avro Energy Limited in administration went into administration, assuming you notified the Company in administration of your move, they will be contacting you with a final bill in due course.
9. What tariff will I be on with Octopus Energy Limited?
Please contact your new energy supplier who will be able to explain your new tariff. Octopus Energy Limited avro@octopus.energy.
10. Who can I contact for additional information?
If you need any information regarding your energy supply, you will need to contact your new energy
supplier, Octopus Energy Limited avro@octopus.energy.
If you have a query relating to your outstanding account with Avro Energy Limited, then don’t worry
we will be in touch in due course.
11. What do I do if there is something wrong with my gas or power supply?
If there is something wrong with your gas or power supply you need to contact your new energy supplier, Octopus Energy Limited – Email avro@octopus.energy.
12. What do I do if there is a power cut?
In the event of a power cut you will need to call your new energy supplier, Octopus Energy Limited on 08456 589 655.
13. Will my gas or power supply be cut-off?
No. Your energy supply will not be cut off and has now been transferred to Octopus Energy Limited. Your new supplier will be in touch with you in due course and the Company in administration will be in contact regarding a final bill.
14. What will happen if I can’t pay my bill?
If you have outstanding amounts on your account, you will be contacted in due course by the Company in administration with a final bill that will include all outstanding amounts up to the date of switching supplier. At this point you will be able to speak to someone about methods of payment. All energy used after the date of switching will be billed by your new energy supplier, Octopus Energy Limited. Any questions about future billing can be answered by Octopus Energy Limited – Email avro@octopus.energy.
"Well they would say that ... wouldn't they!"
I'll be having an interesting conversation tomorrow with Scottish Power. I was with them from Apr 2020 to Apr 2021 when my fixed price ended. I was paying £67 a month. The new fixed price tariff from then was £87 and after checking at the time was only a little more expensive than the cheapest online so I signed up to that.
Got a letter the other day saying I'm still on the old 2020 tariff due to a "technical error". We'll kindly put you on our new tariff of .... £210 a month!!!
I'm not sure where I stand at the moment because I did it all online on their own website. Surely they'd have to honour what I signed up to? The fact there is a price change in my DD to cover the rise in price at the time is enough evidence to show I was put on a new tariff?
What a chore this 5h1t is sometimes.