Peoples Energy: any experiences and/or knowledge of this supplier please?

[felstedrider]

I would consider leaving my gas with Shell, if I were sure it would cost them money,

I heard that nice Martin Lewis on the radio the other day. He said if you’ve been moved, you’ll be on the capped tariff by default and there’s no point switching because you won’t get a better deal on a fixed tariff from any supplier right now. 

We’re also on Shell now, and not planning to move while it’s costing them money for the privilege of having us as customers.

If you were moved to Shell under the Ofgem process they can recoup the costs from the industry.

[fd3]

That kinda sucks - does this mean that if I move the new co can't recoup the loss, but if I stay with Shell they can?

Sounds like a govt swizzle to me.

[SteveC]

Look like Bulb are on the list as well...
https://www.theguardian.com/business/2021/oct/29/uk-energy-regulator-to-take-bold-action-over-price-cap-as-crisis-deepens-ofgem

[felstedrider]

That kinda sucks - does this mean that if I move the new co can't recoup the loss, but if I stay with Shell they can?

Sounds like a govt swizzle to me.

Basically, yeah.  The industry is pretty f*cked.

[fd3]

Noticed that now that all the small startups have gone bust the gubbishment is reconsidering their energy cap rules so as not to harm the big companies too much.

[barakta]

With no plans for what the poorest people on fixed incomes like benefits and state pensions are supposed to do if there's huge increases every 3 months... I can't see prices going down ever...

[felstedrider]

Noticed that now that all the small startups have gone bust the gubbishment is reconsidering their energy cap rules so as not to harm the big companies too much.

There’s still a few independents about but I expect another few to fail in the next couple of weeks and Bulb will be in Government hands.  I have had to speak to two clients this week who expect to go under in the next two weeks.   Both of them ran their businesses conservatively so it’s heartbreaking.

We’re now in a position where one of the big original players could fail due to price cap issues.  The only way out is to subsidise the energy suppliers or allow them to put prices up.  This is where Govt strategy doesn’t quite line up.  Happy to subsidise energy intensive users but happy to allow energy suppliers to fail. 

[fd3]

Thing is that prices increasing and profits falling for energy companies is a good thing in that/if it means that investment in green alternatives to Gas become comparatively more cost effective.  But if you're poor you can't choose to invest in alternatives.
Can the govt manage to not let the poor freeze while subsidising green alternatives at a level that will prompt modal shift?  I very much doubt it.

[Ham]

  The only way out is to subsidise the energy suppliers or allow them to put prices up.  This is where Govt strategy doesn’t quite line up.  Happy to subsidise energy intensive users but happy to allow energy suppliers to fail.

Or, change regulation such that the standard flexible tariff is the lowest offered, but changes in line with costs. Problem solved in one. Fixed tariffs available for those who want, and competition then works as it should.

[Polar Bear]

How do we solve the problem of affordability for the poorest in society though?   Energy isn't a luxury in my opinion but if we have a harsh winter there will be way too many people in poorly insulated homes unable to afford to keep warm or eat properly.

Not a great reflection on wider society imo.

[grams]

The point of the cap was that energy prices for consumers shouldn’t fluctuate with the whims of the market, but they don’t seem to have especially considered how the difference is absorbed.

Essentially they’re trying to have the energy prices behave like a nationalised entity (which would have no problem absorbing fluctuating prices) while keeping it looking like a free market because tories.

[Ripio]

Was with Peoples Energy and got moved to British Gas, but British Gas haven't taken any payment from me in October, last payment was to Peoples energy in mid September just before the move.
Wondering if others who have been moved to BG from Peoples are finding the same?

[robgul]

Was with Peoples Energy and got moved to British Gas, but British Gas haven't taken any payment from me in October, last payment was to Peoples energy in mid September just before the move.
Wondering if others who have been moved to BG from Peoples are finding the same?

We moved to BG in February/March this year (from AVRO after a total fiasco, before AVRO failed) .... the deal with BG is monthly meter readings (Smart) and monthly bills on a "pay for what you've used" basis - sometimes they raise a bill, sometimes they don't and then send one for a couple of months. 

I'm not bothered as we keep meter readings on a spreadsheet that calculates what we ought to be paying on the fixed deal - when their bills arrive they are correct to our readings. 

It just seems that the billing process is a bit woolly.

[felstedrider]

The point of the cap was that energy prices for consumers shouldn’t fluctuate with the whims of the market, but they don’t seem to have especially considered how the difference is absorbed.

Essentially they’re trying to have the energy prices behave like a nationalised entity (which would have no problem absorbing fluctuating prices) while keeping it looking like a free market because tories.

The point of the cap was that a few suppliers had a fair chunk of customers on expensive SVRs.  We could have educated these customers to shop around but it was chosen to introduce the cap instead.  This crushed SSE and Centrica.  SSE sold their domestic book to Ovo and Centrica’s share price is a quarter of what it was.  Consumers were better off as a result.

The problem is not with the cap but the way it has been implemented.  The review windows lag too far behind the wholesale market.  You can excuse this a bit as conditions are extreme with gas prices quadrupling over a couple of months.  Interestingly if you dig into the regs Ofgem can change the cap more often than every 6 months if they want.  So far they have not been minded to.

(I found out last week that Ofgem employ 1200 people)

6 more suppliers have failed this week.  Annoyingly I had moved my Mum to one of them and I’m now going to get a kicking.

Still waiting to see what will happen with Bulb.

[rogerzilla]

If you're on a good fixed price deal and about to lapse onto the capped rate, take a meter reading and submit it on the last day.  Otherwise you can bet the estimated split between the two tariffs wil not be in your favour.  Do the same just before the cap changes in April.

[felstedrider]

In slightly brighter news there are new suppliers entering the market next year.  Wholesale prices have retrenched a bit and are way cheaper 12 months out.  This may be a period of temporary pain for the consumer before an improvement.  This has happened before but not in the same magnitude.

[felstedrider]

And my Mum is a victim of one of last weeks failures after I switched her from Scottish Power early this year.

This has not made me popular and gives back the saving I sorted on her phone and broadband 2 months ago.

[perpetual dan]

Looks like Bulb has gone now.

[mrcharly-YHT]

Some members of my family were with Avro. They never received a bill, despite contacting the company multiple times.

Transferred to Octopus, who say that "You must pay off your debt with your previous supplier before we can start billing you."

My advice to them was to bank money towards bills and don't do anything else.


Anyone know what is happening with companies like Avro and outstanding bills? I assume that some big accountancy firms are slavering over running the administration. Someday, when they have managed to process Avro's accounts, they might issue a bill to former customers.

[rogerzilla]

Looks like Bulb has gone now.

Must try harder.

"Bulb has blown"
"Bulb's prospects dim"
"Bulb won't be coming up again in spring"

[perpetual dan]

Looks like Bulb has gone now.

Must try harder.

"Bulb has blown"
"Bulb's prospects dim"
"Bulb won't be coming up again in spring"

 

[robgul]

Some members of my family were with Avro. They never received a bill, despite contacting the company multiple times.

Transferred to Octopus, who say that "You must pay off your debt with your previous supplier before we can start billing you."

My advice to them was to bank money towards bills and don't do anything else.


Anyone know what is happening with companies like Avro and outstanding bills? I assume that some big accountancy firms are slavering over running the administration. Someday, when they have managed to process Avro's accounts, they might issue a bill to former customers.

We were with AVRO (inherited when we bought the house in Feb 20) - could not get any admin sense from them or bills - upside is that we didn't have a DD, they were stiffing everyone that had to prop up cashflow - Ombudsman finally sorted it for us in Feb/March 21 when we moved to BG - that's all worked fine since then.

Good idea to bank the money BUT also make sure meter readings are kept each month so that there are clear consumption figures to apply the rate that they SHOULD be charging.  (We did that with AVRO and it worked out fine, eventually)

[rogerzilla]

I see we're subsidising Bulb to the tune of £1000 per customer.   Surely a market-led government should just let it fail and make the customers sign up to whatever tariff they can find elsewhere?  But we always socialise losses after the fat cats have taken their profits and run.

[Polar Bear]

It's thoroughly despicable.   Supporting a failed business to the tune of £1.7bn whilst taking money away from the poorest in society.  Thoroughly despicable and utterly vile.

It also proves unequivocally that the capitalist marketplace for energy reselling is nothing more than a sham construction designed to benefit greedy spivs and charlatans.

[Paul H]

Another one bites the dust, Neon Reef, no I hadn't heard of them either till they came top of a comparison search a year ago. Anyway, back to British Gas and braced for a price hike.