Sad day, Our Power went out of business today.

JustSsavvy

Just found out the Our Power went bust today (25/01/2019), what a sad day for competition in the energy sector.

I wish that the regulator would do something like the financial sectors does and stress test energy firms.

Now I can't use my referral code for these our power customers cause its ill advised to switch while ofgem finds another provider.

mowcius

With 38000 customers since 2016(?), acting as a non-profit, I'm not exactly surprised. It's a tough world out there!

70 members of staff is also a bit insane. I think that Bulb had fewer than 50 when they had close to 200k members (someone from Bulb please correct me on this if incorrect).

RichyB

According to the last statements filed, Bulb's parent company (Simple Energy Ltd) in the year ending March 2018, had 67 employees (up from 22 in 2017) (source: page 20 of '08 Jan 2019 - Group of companies' accounts made up to 31 March 2018' on https://beta.companieshouse.gov.uk/company/09249540/filing-history )

JustSsavvy

mowcius said:

With 38000 customers since 2016(?), acting as a non-profit, I'm not exactly surprised. It's a tough world out there!

70 members of staff is also a bit insane. I think that Bulb had fewer than 50 when they had close to 200k members (someone from Bulb please correct me on this if incorrect).

Non-profit companies can still be profitable. The idea is they don't give any dividends to their shareholders.

I agree with you on the number of employees, that's was exrememe for the number of customers but they did have very good customer service, compared to bulb they out performed bulb.