The energy crisis has made a new victim in France. After Cdiscount, Vattenfall, Alterna or Plm which had put their activity on hold, the supplier Bulb energy has just lost its authorization to sell energy. Its customers will be switched to EDF, with no risk of cuts.
2022, a year of all dangers for companies in the energy sector? After the supplier Hydroption, which went bankrupt in September, its British counterpart Bulb has just lost its authorization to sell energy in France. It had already been declared insolvent in the UK in December. A minor player on the French market, Bulb published a communicated announcing the suspension of its activities due to dramatic price increases wholesale energy. It informed its customers that they were going to be transferred to EDF at the regulated rate from January 20, with no risk of a cut.
Electricity and gas: should you modify your contract before 2023?
EDF has been appointed as emergency supplier by the Ministry of Ecological Transition, in the event that an electricity operator is no longer able to supply its customers. This protects consumers. Unlike gas, in electricity, it is always possible to return to the EDF regulated tariff, free of charge before, why not, choosing another alternative supplier at the end of the current crisis, explains Julien Tedd, co- founder of Opra Energie.
Cdiscount, Vattenfall, Alterna or Plm are no longer recruiting
The cessation of Bulb’s activity reflects the difficulties of the sector in France, which has around forty alternative EDF suppliers, representing a market share of 28.1% as of September 30, 2021 on the residential market, according to the Regulatory Commission. Energy (CRE). We see rather suppliers who reduce the airfoil, explains Jean-Sbastien Degouve, co-founder of Opera Energie, MoneyVox. Some put their activity on hold, others do what it takes to reduce their client portfolio.
Cdiscount, Vattenfall, Alterna or Plm had already stopped recruiting new customers when Leclerc Energies had stopped its activity for its 140,000 customers.
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Four operators subpoenaed for deceptive commercial practices
At the end of the year, the consumer association CLCV sued four operators for misleading commercial practices, such as the transformation, without the customer’s explicit consent, of an offer indexed to the regulated sales price into an offer indexed to market fluctuations in wholesale, which makes the offer much more risky for consumers and increases the bills in the event of a surge in wholesale prices. Are affected by this action: Ovo Energy, ekWateur, GreenYellow (Cdiscount) and Mint Energy.
electricity: do you have to go back to the regulated EDF tariff?
Contract modifications cannot be made just anyhow, reminds the Energy Mediator. He recommends the greatest vigilance. Any change in prices must be formally stipulated one month before, to have time to change supplier.
To limit the impact on consumers of this rise in electricity prices, the government has decided to cap the planned increase in the sales regulation tariff at 4% in February, via the reduction of a tax and the contribution of ‘EDF. Without these measures, the regulated tariff would have had to increase by 44.5%, or 330 euros on average over one year.
ENERGY: FIND THE BEST CONTRACT