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It isn't the 'existing industry' that is collapsing, it is low-rate entrants to the UK energy market who are just middlemen between the actual producers and con
by evgen 5y ago
It isn't the 'existing industry' that is collapsing, it is low-rate entrants to the UK energy market who are just middlemen between the actual producers and consumers. The major players are going to do just fine and the poor are going to get screwed with higher rates as their low-cost contracts collapse and they are forced to sign to a higher rate with a major energy firm. It is a tough job to pull off being both ignorant and cruel, but you manage it with aplomb.
- toomuchtodo 5y agoThose lower unhedged rates from energy trading startups should’ve never existed and were unsustainable (as proven by this tail risk). This is Griddy in Texas during the February 2021 freeze event all over again. It’s like auto insurance: it’s cheaper to go without up until the accident. https://en.wikipedia.org/wiki/Griddy https://en.wikipedia.org/wiki/Griddy
- pornel 5y agoCompanies are not people — there's no need to be sorry for them. Bankruptcy is a normal, healthy, and necessary part of capitalism. Customers can switch. The government already has incentives for installarion of heat pumps and insulation (it could do better).
- deleted 5y ago[deleted]