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Be prepared for a nasty shock if your energy supplier goes bust

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  • Nanny BeachNanny Beach Posts: 8,719
    edited September 2021
    Fire,I have Economy 7. You have to Have a duel switch meter. had fixed rate tarifs for over 20 years. Have been with Octopus 2 years,must be 20 years ago I remember the rates lowering.you pay slightly more for the day kw. Your bills are low,if that's current per annum. What sort of property do you live in, how many people,,,? My daughter said she couldn't understand why hers are so much lower,but they're out at work, school,a good part of the day,and she cooks with gas.i have LED bulbs, cavity wall insulation, we've replaced every door, window,thick loft insulation. Can't see what else we can do
  • FireFire Posts: 19,096
    edited September 2021
    @Nanny Beach It sounds your house is very well insulated. Maybe a heat pump would work well in your set up...

    I don't have a tumble drier, hair drier, TV. It probably helps to keep the bills low. The only things that are on all the time are the fridge, freezer and air filter. 
  • There is no way we could afford a heat pump set up, anymore than an electric car.we had a new gas boiler a few years ago
  • FireFire Posts: 19,096
    Hopefully govt green schemes will cover ever more of the cost of heat pump set up. They will have to. We currently have two schemes running in London, which cover about half the cost, but it's not enough.
  • Interesting to track back to find the reason for the potential gas shortages.

    In 2015 the govt (Tory) commissioned a study to find out the potential impact of Brexit on gas supplies.  The study, published in 2016, was encouraging; gas supplies after Brexit should be OK because Britain had plenty of storage.

    In 2017, the government agreed that Centrica could sell off 70% of its gas storage, to provide a dividend for its shareholders.

    The 2016 study is no longer available on line...
    Since 2019 I've lived in east Clare, in the west of Ireland.
  • LoxleyLoxley Posts: 5,698
    Is it better to wait and see if your energy supplier tanks, or switch to a 'solid' company now? 

    Isn't this 'private energy market' thing a load of annoying b***cks...
    "What is hateful to you, do not do to your neighbour". 
  • ErgatesErgates Posts: 2,953
     Can't see what else we can do
    I think sometimes you just have to accept that things are already pared to the bone, and look at where else you could make an economy instead.
    We use what gas we need for comfort, and to stop the house getting damp. However, I’ve managed to save in other ways by changing our house and car insurers regularly. I really don’t have time or energy for the stress of searching for better deals, but a few years ago, I thought I’d ask the broker who has done our car insurance for many years, if they did house insurance. Doh! Of course they do! Got us an immediate and huge saving, and it’s kept the costs down every year since.
    Also, after years of being fleeced by BT for phone and lousy internet speeds, we finally got round to changing. Now with SSE, which I find amusing, as we don’t get any electricity from them, but that was so much cheaper and a much better package overall. And we don’t have to put up with being bombarded with post from BT offering amazing loyalty deals that are twice what we are paying now!
  • Nanny BeachNanny Beach Posts: 8,719
    edited September 2021
    Large windfarm near me not moving today. Just had letter from company working with our local authority ,( yes,have checked with them it's ligit) bidding next month, for solar panels. We do have a south facing roof,in the warmest mildest area of the SE. calculations online estimate £5k for us. Just have to wait and see who wins the bid and how much they want. John Prescott said in our last house a new boiler would save £300 pa. It didn't save a penny....
  • FireFire Posts: 19,096
    edited September 2021
    Loxley said:
    Is it better to wait and see if your energy supplier tanks, or switch to a 'solid' company now?

    "Most suppliers pulled all of their cheapest tariffs on Friday".

  • LoxleyLoxley Posts: 5,698
    Yes but I can't help imagine when they have a bunch of customers with no choice but to switch... I did a little 'comparison shop' and EON came out a bit cheaper than BG, still more expensive than Bulb though.
    "What is hateful to you, do not do to your neighbour". 
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