It's a blood bath out there

This wholesale price rise seems to have caught out quite a few suppliers.
OFGEM have stated that 15 suppliers have missed their Green Energy Bill totalling £59 Million.
Economy Energy owe £15 million and have taken down their Social Media Accounts. Delayed filing accounts.
Outfox the Market have raised prices twice in a month and have stopped updating their website and forced through massive DD increases.

I wonder who picks up the bill for this mess?

This wholesale price rise seems to have caught out quite a few suppliers. OFGEM have stated that 15 suppliers have missed their Green Energy Bill totaling £59 Million. Economy Energy owe £15 million and have taken down their Social Media Accounts. Delayed filing accounts. Outfox the Market have raised prices twice in a month and have stopped updating their website and forced through massive DD increases.

I wonder who picks up the bill for this mess?

ultimately the consumer.

It would appear these companies have doing what the bank of England has been doing with Quantitative Easing, hoping more money will come in at a later date, to pay the black hole before anyone notices.

If i was a customer of those companies I would be switching asap, even if it is a little more expensive.

The law should change to make sure the directors are responsible of this mess, this inst ‘oh i forgot to top up the meter or pay a bill’. How do you forget to pay £15M or not factor that in with prices.

I left OFTM on the 14/12/18 as I got emails saying my £50 DD was going up to £87.50 then down to £70 then a few days before I left up to £102 a month and I was building up a steady credit balance on £50. OFTM had asked for photo’s of my meter for the third time in December , just days before I left them so I sent them 3 readings from the meter that British gas installed, yes a smart meter, I was on their free time but OFTM seemed too good an offer to turn down so I jumped to them, paying the £40 early termination fee. I just wish all the SMETS 1 meters updated the software to make them readable by all suppliers as they were supposed to be done by the end of 2018, or Bulb installed a replacement smart meter so I don’t have to keep getting out a step ladder and wobbling on top of it to get the reading for electric then adding around 12 to 15 to the reading for a totally accurate reading to be done