Non - Energy companies ceasing trading...

SteveJonesLegend

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Just received an email to let me know my energy provider (Green) has ceased trading today along with another, and another 4 expected to fall in the coming days...

Typically, at this time of year, lots of folks have 'summer credit' with energy companies... I had £300-£400 in credit, so am trying to understand what will happen to that now... Apparently it's protected but you never know...

Just worth checking in with your provider, especially if they are a small independent, and understanding how much, if any, credit you have ...

https://www.lbc.co.uk/news/energy-supplier-green-ceases-trading-as-gas-prices-surge/
 
Just seen that email too, I'm also with Green.
Not at all unexpected and to be honest I've had a few issues with Green.
The only way forward is total renationalisation of domestic energy supply.
The whole privatisation plan was to increase competition amongst providers to the benefit of the consumer and even the most ardent tory would have to admit that model has failed miserably.
All it has done has given opportunity for any Tom, Dick and/or Harry to set up an energy supply company and make some money out of all of us.
Energy should be supplied at cost with a levy to further renewable investment by a not for profit national state owned company.
 
Just received an email to let me know my energy provider (Green) has ceased trading today along with another, and another 4 expected to fall in the coming days...

Typically, at this time of year, lots of folks have 'summer credit' with energy companies... I had £300-£400 in credit, so am trying to understand what will happen to that now... Apparently it's protected but you never know...

Just worth checking in with your provider, especially if they are a small independent, and understanding how much, if any, credit you have ...

https://www.lbc.co.uk/news/energy-supplier-green-ceases-trading-as-gas-prices-surge/

https://www.ofgem.gov.uk/informatio...hat-happens-if-your-energy-supplier-goes-bust
 
Mine went a couple of days ago ( Peoples energy) been told that I am now with British Gas. Cancelled direct debit before they could take any more money.
 
I signed up to manage my bills and my supplier has gone bust so now back with British Gas so many independents are going bust . People have recommended utility warehouse but not sure.
 
Utility Warehouses service is as bad as British Gas if you want any form of control over your direct debit. If you remember one of the generate funds for the club in days past. Seemed like a good idea at the time.
 
Utility Warehouses service is as bad as British Gas if you want any form of control over your direct debit. If you remember one of the generate funds for the club in days past. Seemed like a good idea at the time.

I dislike their pushy sales style. A lot.
 
Hi peeps. I haven't been posting for a while for one or two reasons but just had to log on and try to give some advice owing to my experiences earlier this year.

Quick advice.
If your provider goes bust take a photograph of your meter(s). Take note of the reading with the date.

If you are in credit then cancel your Direct Debit, don't let them take any more money from you.

Martin Lewis website. Most likely there will be a forum dedicated to each supplier that has ceased trading - the one for Yorkshire Energy (see below) went to 240 pages. There was a lot of useful advice on there.
https://forums.moneysavingexpert.com/

I was with Avro and they went out of business today.

I hope this is useful?

Sorry long post..

My experience: I was with Yorkshire Energy (YE) - a pretty good company. They went out of business on the 5th December 2020. (Obviously not that good though!). I just happened to take readings that day, I always take photos when I read my meters. Their billing system was still running and they calculated that I was £506 in credit.

OFGEM have a bidding process and 4 Energy Companies bid for the 70K YE Domestic customers. Scottish Power (SP) were selected. They became the Supplier of Last Resort (SoLR).

I received emails from SP saying that they were taking over my supply. Eventually in January I could input my initial readings, that is, the readings from the 5/12/20 when YE went bust and SP took over the supply. I honestly can't remember now if it was my electric or gas reading that I could not input. One reading was correctly input.
The other wasn't. I rang SP 3 times over a 6 week period. Waiting time on the phone around 45 minutes. Told that the reading had been input and to wait 2 weeks for it to be shown online.

Each time no reading present. On the third occasion, it's now February. I raised a complaint. SP have so many complaints, many thousands a month, they can't cope.

By the way, emails were a waste of time as was the online chat.

In the meantime, SP had generated their own estimated reading (an industry approved reading in their favour - I was overcharged £10).

By now I'd escalated the complaint process (I think I raised 3 complaints with SP overall).

Eventually they 'fixed' the reading by giving me a credit plus further credits due to all the time I'd spent. SP use SAP for their billing system, it appears to be rubbish!

Next. The credit balance. The YE creditors took 4 months to generate a final bill (I think I was one of the last, I had generated a bill on the day that YE ceased trading but that didn't seem to count).

Once SP 'recognised' that I was in credit - I saw I was in credit on the YE site on the 1/4/21 - It took Scottish Power 4 days to register that I was in credit and then a few days more to send an email to me to say they would pay the credit to me (within 20 working days - that's a month - the start date was anyone's guess!). So possibly 6-8 weeks later.

I think that was when I raised the third complaint.

By then I'd moved to Avro as I hated SP and their prices were going up and Avro were a reasonably big company (580K customers and had good reviews).

I was with SP for 5 months. I felt they were the worst energy company that I'd encountered.

I thought I'd never have to go through that hassle again but here we are!

Octopus and SSE were/are OK in my experience.

If SP is my SoLR again then I will transfer as soon as SP are registered as my supplier.
For GAS - https://www.findmysupplier.energy/webapp/index.html
For Elect - https://www.simplyswitch.com/energy/guides/who-is-my-supplier/

I would then move away, making sure that I've paid SP for the energy usage with them and just await my credit from Avro. Fortunately I'll be owed about £80-90 this time.

I hope this helps.
 
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I’ve been with Octopus for a couple of years. Good customer service following a few problems with the switch over to them due to the smart metres not working properly. Far better than I’d ever had before.

Their standard tariff is, I believe, the cheapest around which means they will have to stay that way when the price hike comes next month.

Obviously would have been far better off on a fixed tariff, but the past year the standard tariff was cheaper so I stuck with the standard tariff as it had no exit fees…and just thought I’d switch if they didn’t remain the cheapest…didn’t foresee the current scenario so I’m smarting somewhat now.
 
Octopus have been absolutely fantastic and top provider in Which for 2 or 3 years but I've no idea if they'll survive. Breath of fresh air, top customer service and integrity compared to big boys. Have a look if they make it through...

I don't want anyone to take this as financial advice but I think Octopus will be just fine as they are incredibly innovative with their products.

They're currently trialling using electric cars as he batteries to effectively do energy trading. They also do tariffs that change hourly based on the wholesale price which nerds love because there are times when they actually pay you to use electricity.

It's more your bog standard copycat companies that have got stuck offering fixed deals that have slashed their margins.
 
I don't want anyone to take this as financial advice but I think Octopus will be just fine as they are incredibly innovative with their products.

They're currently trialling using electric cars as he batteries to effectively do energy trading. They also do tariffs that change hourly based on the wholesale price which nerds love because there are times when they actually pay you to use electricity.

It's more your bog standard copycat companies that have got stuck offering fixed deals that have slashed their margins.
They are incredibly innovative and, as you say Kudos, do look strong. I found them in their early days a few years ago and, thinking they looked too good to be true, emailed them about the price hike I'd experienced with another company. I got a reply at about 11.30pm from a bloke called Greg Jackson... it actually was the CEO and we exchanged a couple of friendly, chatty emails (including my disbelief!) where he pledged their pricing policy and in a free market I would be the judge of their integrity. I thanked him and suggested he was a busy fella and should switch off his laptop and turn in!

They've kept every word and he seems to have created a company in his own image - open, honest, good humoured and smart. I've always hoped they'd make it through.
 
Utility Warehouses service is as bad as British Gas if you want any form of control over your direct debit. If you remember one of the generate funds for the club in days past. Seemed like a good idea at the time.
Personally always been happy with utility warehouse. UK based call centre,prices good, sorted any phone and internet issues out quickly.
 
I’m torn on this issue. In one respect it’s a failure of the Tory market economy but on the down side it’s playing right back into the hands of the cartel of the big six who can dictate prices. Lose lose for the consumer.
 
Hopefully this isn’t a completely noddy question but… I live in an all electric block of flats and haven’t been able to work out whether the current hubbub is actually gas only, or whether I should expect similar rises in my electricity bills. Anyone know?

I assumed energy production and costs were probably linked somewhere along the line but not sure.
 
My provider has hiked my monthly direct debit up by £50 a month making my annual price £2200 for dual fuel. Had a quick check on Moneysupermarket and many providers variable tariff was £250 a month. It will be next to impossible to get a fixed rate deal and I guess who would want to at these prices. Those not fixed in will have to ride the bumpy ride for a while. I'm sure they will go down but will they go down by the same margins they have increased??
Edited to add, hopefully my small provider will survive as they didn't offer any fixed rate deals just the cheapest variable rate
 
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Hopefully this isn’t a completely noddy question but… I live in an all electric block of flats and haven’t been able to work out whether the current hubbub is actually gas only, or whether I should expect similar rises in my electricity bills. Anyone know?

I assumed energy production and costs were probably linked somewhere along the line but not sure.

Gas is the countries main source of "flexible" energy. We have a fixed base line of nuclear and somewhat unpredictable renewables like wind and solar. Gas is used to maintain a consistent electricity supply. They can turn the gas power stations on and off with supply. England in particular uses a fair amount for electricity usage...Scotland a lot less.

https://grid.iamkate.com/

At this very moment, 29% of our electricity is being produced by gas. About 11am this morning that will have gone down to probably nothing.
 

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