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Toto Energy Goes Bust & Numerous Energy firms face crackdown leaving customers in limbo

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“A number of energy suppliers have failed recently, including Extra Energy where 108,000 customers were left without a supplier,” he said.

https://uk.yahoo.com/finance/news/toto-energy-ceases-trade-153402315.html

 

Toto Energy, which supplies around 134,000 domestic customers, has ceased to trade, Ofgem said.

The regulator assured the firm’s customers that their energy supply would continue, prepayment meters could be topped up as normal and outstanding credit balances would be protected.

Ofgem will choose a new supplier to take on all affected customers, who will be contacted about a new tariff.

https://uk.yahoo.com/finance/news/toto-energy-ceases-trade-153402315.html

 

 

 

 


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Having had some insight into a small energy supplier, I am not surprised. 

 

To make a profit, an energy company would probably need a minimum  of 400,000 customers. The reason is that they need to generate the revenues required to pay all of the running costs including purchasing energy at a price, they can make a profit from. Otherwise they are building up debts, which may eventually land them in trouble.

 

My energy suppliers are a not for profit company Robin Hood, originally set up by Nottingham City Council. They have expanded (white labelled ) by providing their services to different suppliers all around the country. 


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Yes but Robin Hood ls accounts are not the best either... 

 

Also a customer mind you


Please note:

 

  • I am employed in the IT sector of a high street retail chain but am not posting in any official capacity,so therefore any comments,suggestions or opinions are expressly personal ones and should not be viewed as an endorsement or with agreement of any company.
  • i am not legal trained in any form.
  • I have many experiences in life and do often use these in my posts

if ive been helpful kick my scales, if ive been unhelpful kick the scales of the person more helpful :eek:

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