Energy Suppliers, Suppliers of Energy. Gas / Electric

why Octopus are viewed as so much better than the other established suppliers

Renewables?

The bloke said there's no 4G (or whatever it is) in the cupboard so the meter readings can't be uploaded. For some reason he took the IHD away with him too*. The Bulb website gave me the impression that the IHD could connect to WiFi and upload readings that way but maybe that's wrong. If I could see the actual readings on the IHD that'd be an improvement as I wouldn't have to clear 6 wheels out of the "shit storage" cupboard.

* probably sold it on eBay, cheeky bastard. I see there's some stuff like the Pipit 500 on there which mentions the words ZigBee - does anyone have one and does it do smart home shite? Or at least give me access to data?

Yep - https://www.theguardian.com/business/2021/nov/22/bulb-energy-which-supplies-17m-customers-collapses-into-administration

And there goes Bulb. Citing increased cost of supply again following price movements last week. Seems to be due to Russia/Germany/Belarus not entirely agreeing with each other.

https://bulb.co.uk/blog/bulb-special-administration

Well thats mine gone then, can't wait to be dumped on British Gas.

Bulb is the seventh biggest energy company, big players are starting to bite the dust now. Who will be the last standing, what will happen if they all go bust?

Tories dole out the companies to their mates.

It will be like 1990s Russia

And gonna be given taxpayers money. Farce.

Just got keys to a new place that I’m renting for next 12 months and discovered current electric supplier is Eon. Uswitch isn’t able to display current deals as companies aren’t running any.

Suggestions for where to get best rates?

Stick with Eon, price cap is the cheapest rate going. Or let one of the Octopus vultures refer you and split £100.

Doubt Octopus will be taking anyone new right now. What a shitshow (again).

We are with Bulb so once the dust settles I will be looking to switch - so I'm open to referral codes

Either that or 1.7m households have a cold winter…

Not that I think it’s right, but in the balance of things no other energy supplier is going to take on that many customers at such a loss at the moment or they risk going under as well. Just like when a rail franchise fails, someone has to pick up the mess so people can still live their lives. It’s not their fault a company went under due to gas prices rising…

Half the forum are with Bulb aren't they after the £100 referrals were pushed heavily on here. No judgment, that includes me.

Reading some interesting takes on Reddit, suggesting that if you've got credit to at least cancel your direct debit until there's some certainty. Don't keep piling money into them.

Don’t bother switching. Variable is the cheapest, stay where you are then look in Jan/Feb when we’ve passed the winter season and the new price cap is known.

As has happened every time a supplier goes under. Customer credits are protected by OFGEM, although it may take time for the dust to settle and for it to be transferred to your new supplier. However as Bulb aren’t really entering administration in the way other have and are more being re-nationalised (as in understand SAR), it’s essentially business as usual for their customers.

Martin Lewis, who seems to know about these things, says to essentially do nothing, keep paying direct debits etc. and it will eventually be worked out.

Doubt Octopus will be taking anyone new right now. What a shitshow (again).

My referral link is still working!
https://share.octopus.energy/wind-clove-763

Have to say that while I called Bulb going bust months ago I didn't expect the government to be taking them over.

However as Bulb aren’t really entering administration in the way other have and are more being re-nationalised (as in understand SAR), it’s essentially business as usual for their customers.

Yep. So no need to cancel your DD or panic. But you can also switch if you want and it should be handled normally.

Have to say that while I called Bulb going bust months ago I didn't expect the government to be taking them over.

There were noises about it a few months ago, I think I mentioned it on here somewhere as a possibility. May well be the cheapest option compared to redistributing their customers and the costs coming out in everyone's tariffs.

Everyone is doing renewables now, but the reasons Octopus are rated are good customer service (Trust Pilot rating of 4.8, 5/5 in the uSwitch/YouGov survey, Which? recommended provider etc.), innovations like Agile Octopus and being able to borrow a FLIR camera and of course being able to spin the wheel every time you do a meter reading as @fussballclub said :)

Their aim is also supposed to be to provide value in the long term, i.e. look after their existing customers as well as new ones so you don't have to keep switching. I've not been with them long enough to test them on that.

It's interesting that Bulb are only shuttering in the UK. Bulb Spain, France and US are seemingly in the clear for now.

I mentioned it first about two months ago and linked to the FT article, who I'm pretty sure broke the story, so all credit to the FT:
https://www.lfgss.com/comments/16185843/

Since then loads of people have kept posting 'guyz, I think Bulb might be about to go bust!'.

No shit :)

the balance of things no other energy supplier is going to take on that many customers at such a loss at the moment

The Suppliers Of Last Resort (i.e. the big companies) can claim back the net cost of taking on new customers, so don't stand to lose anything other than maybe short term cashflow.

It's because all their electricity and gas has to stop at the border to fill out paperwork. #brelectricxit

So, which arsehole got rich out of that shitshow? Who's yacht am I am paying for now? Last really annoying one was RBS.