Well I had my second energy supplier go bust within the last two years. This time it was Neon Reef who charged me 13.66p/kWh and 11.66p daily standing charge. I’m being handed over to BG at 20.66p/kWh and 24.13p daily standing charge. Works out at a 54% cost increase over a year.
I’ve always been one to research suppliers and switch yearly but I can’t see much point as any good deal is simply a prelude to supplier failure.
Everyone is blaming the energy price cap but as that only applies to variable tariffs, I don’t buy it, as surely large numbers of customers are on fixed term tariffs? If so it’s a failure of the free market caused by a lack of prudence on the suppliers part.
The sooner my solar/battery system is delivered the better.
Yep, the supplier failures seem to be largely driven by new entrants not understanding the energy market and failing to hedge properly, instead relying on their customers' money to cover their risk. Extremely bad business practice.
An awful lot of people are in for a very rude shock when they have to pay the true cost of their electricity and gas. Putting in our solar /battery system is looking increasingly like a very sensible move indeed.
