Companies going bankrupt/into administration

[kenneal - lagger]

It's a food delivery company not a production company and many of the jobs have been turned over to their customers, the supermarkets. I suspect that the supermarkets have grabbed the drivers and left to warehouse workers to find their own jobs.

[adam2]

Another 3 gas and electricity retailers have gone bust.
https://www.bbc.co.uk/news/business-58732683

[Potemkin Villager]

So who can afford to be last man standing?

Can anybody afford to be last man standing?

Logically the only course of a action is to ditch the cap
but that would be political suicide whilst keeping it
looks like economic suicide.

All hail the market.

[anotherexlurker]

I am/was with Symbio , so looks like my electricity costs will be shooting up , having an electric boiler for water and heating as we head for the cold season , this whilst not unexpected is not great news.
I wont be surprised if the cost per KWH will equal or even exceed the cost of 15KG Butane cylinder refills , which is just crazy , but I wont to save mine in case we have grid problems in the winter.

[emordnilap]

So who can afford to be last man standing?

To state the obvious, energy should never have been privatised in the first place. Ireland's state supply went from one of the cheapest electricity suppliers to amongst the dearest in short order once the EU forced competition on us.

[adam2]

I am/was with Symbio , so looks like my electricity costs will be shooting up , having an electric boiler for water and heating as we head for the cold season , this whilst not unexpected is not great news.
I wont be surprised if the cost per KWH will equal or even exceed the cost of 15KG Butane cylinder refills , which is just crazy , but I wont to save mine in case we have grid problems in the winter.

Butane contains 13.7 kwh per kilo, so a 15 kilo cylinder contains 205 kwh.
205 kwh of mains electricity at present costs about £30 to £40. A 15 kilo butane "refill" costs about £25 to as much as £50 if you can get one. I would keep the butane for any future emergency.

[kenneal - lagger]

So who can afford to be last man standing?

To state the obvious, energy should never have been privatised in the first place. Ireland's state supply went from one of the cheapest electricity suppliers to amongst the dearest in short order once the EU forced competition on us.

Even when your energy seemed cheap it wasn't really. You were just paying for it through taxation instead. Nationalisation doesn't make stuff cheap it just drives the cost underground where you don't notice it quite so much.

[emordnilap]

So who can afford to be last man standing?

To state the obvious, energy should never have been privatised in the first place. Ireland's state supply went from one of the cheapest electricity suppliers to amongst the dearest in short order once the EU forced competition on us.

Even when your energy seemed cheap it wasn't really. You were just paying for it through taxation instead. Nationalisation doesn't make stuff cheap it just drives the cost underground where you don't notice it quite so much.

Well, sort-of. Profit for a myriad privatised energy companies adds extra unnecessary layers, as you know. State-owned electricity was produced on a revenue-neutral basis.

[adam2]

Another two energy retailers have gone bust.
Colorado energy and Pure Planet now gone.
https://www.bbc.co.uk/news/business-58903122

[adam2]

Another energy supplier has bust today, Goto energy.
https://www.bbc.co.uk/news/business-58959620

[Potemkin Villager]

Oh dear. Well at least folk using green electricity will be
insulated from the price rises facing people using non green
suppliers.

[clv101]

Oh dear. Well at least folk using green electricity will be
insulated from the price rises facing people using non green
suppliers.

Doesn't work like that... unless you mean off-grid personal systems.

[Potemkin Villager]

If it "doesn't work like that" then I guess those who signed up to to various 'green' deals are now
realising they have been seriously misled as their leccy is really no greener or cheaper than anybody else's.

[clv101]

The green generators sell their kWh at the wholesale market rate. The retailers buy, add margin and sell to customers. The customers choosing green tariffs are assured that for every kWh they buy from retailer, the retailer buys a matching kWh from green generator.

This spike in gas prices and the associated spike in wholesale electricity prices mean wind, solar nuclear etc are making more profit - except most won't as they are selling at a fixed price, long term contract agreed months ago.

[Potemkin Villager]

Let me get this right. So the cost of producing wind, solar and nuclear have not increased
(only gas fueled generation) and anyway they are locked into fixed price contracts to supply
the "wholesale market". The "green" retailers then have to buy their supplies at an inflated price
despite their suppliers being unable to hike their prices.

Lucky old wholesale market.