Iresa Limited - New Energy Company?
Comments
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I wouldn't say you are lucky. It seems a relatively small number of customers are unlucky. There must be thousands of customers without ant problems, and buying the cheapest energy in the Kingdom.brewerdave wrote: »I'm definitely "lucky" with my IRESA elec. account compared with others.
New DD showing as credited after 2 days, submitted meter reading also showing after 2 days and the credit balance showing, agrees with my spreadsheet to the p.
Now to see if they alter my DD downwards as I have a credit balance of about 7 weeks worth of leccy:)0 -
Maybe things will be sorted but 3 months in and my electric only account is still not set up correctly. I am not unduly worried yet as they are the cheapest but it still should not take them this long to get an account working, even ExtraEnergy got that bit right.
The 11 multiplier is not the correct way of converting to kWh, it is only to be used as the back of a fag packet conversion for estimating your bill. There is a set method laid down in the licencing conditions that all energy companies must adhere to and Iresa have totally ignored this, seemingly not having a system set up that can actually calculate it correctly.
The fact that you are in a queue of 50 to speak to someone and they fail to respond to e-mail queries does set alarm bells ringing about the resilience of the company. In a time of rising wholesale energy costs having to pump additional money into the running of the company without the ability to generate new income again is a cause for concern.
With me, they started with 11.4 and that is now 11.2, so it is being adjusted, This suggests they are using the correct method. I think the only concern is if they do leave the market. If they did, the energy supply remains intact and any funds they have of yours would be returned to you. I see no reason to worry. The evidence I see, and there must be thousands of satisfied customers, is that all is well.0 -
With me, they started with 11.4 and that is now 11.2, so it is being adjusted, This suggests they are using the correct method. I think the only concern is if they do leave the market. If they did, the energy supply remains intact and any funds they have of yours would be returned to you. I see no reason to worry. The evidence I see, and there must be thousands of satisfied customers, is that all is well.
Have you looked at Twitter, Facebook and Trustpilot? Why would Ofgem be bearing down on Iresa if all was well with the Company. I have seen a post yesterday that suggests the Citizens Advice now has a dedicated phone number for customers unhappy with the service that they are (are not) receiving.
You are right, if Iresa goes bust today then most likely nothing would change as far as you are concerned. However, the financial cost of a default falls to all suppliers - good and bad - and ultimately to their customers through the consumer levy. No one is wishing insolvency on Iresa; however, they do have a Regulatory obligation to issue bills based on accurate calculations - whether the difference is in £s or pence. When I get my first accurate bill (and I have been a customer now for 6 months), I will stop pushing the Regulator to act (which I accept that they may be doing behind the scenes). I doubt that many will be happy to pay Iresa an extra £7 per year to which they are not entitled ( based on average gas consumption and Flex 2 tariff). I don't buy the argument that as they were cheaper than other suppliers, then what is there to complain about?0 -
If they are using a multiplier of an exact 11.2 or 11.4 etc then that will not conform to the regulations as to get those exact numbers a CV with more than 1 decimal place would have to be used. It looks like they will still have to re issue all previous bills.With me, they started with 11.4 and that is now 11.2, so it is being adjusted, This suggests they are using the correct method. I think the only concern is if they do leave the market. If they did, the energy supply remains intact and any funds they have of yours would be returned to you. I see no reason to worry. The evidence I see, and there must be thousands of satisfied customers, is that all is well.0 -
I don't buy the argument that as they were cheaper than other suppliers, then what is there to complain about?
It's a complex issue. If producing 100% accurate bills and having enough people to answer the phone they would put their prices up so that they were as expensive as everyone else, then it would seem unwise to get them shut down for £7 a year. Like if HMRC spend £100 to recover £7. It wouldn't make financial sense.
What would you do if they proposed abandoning the fixed tariffs and putting prices up to cover the increased costs?0 -
It's a complex issue. If producing 100% accurate bills and having enough people to answer the phone they would put their prices up so that they were as expensive as everyone else, then it would seem unwise to get them shut down for £7 a year. Like if HMRC spend £100 to recover £7. It wouldn't make financial sense.
What would you do if they proposed abandoning the fixed tariffs and putting prices up to cover the increased costs?
With due respect -you are missing the point - as a licensed supplier of Utilities there are certain min. standards they MUST meet.
Using the correct methodology for bill calculation is just one of those.:)0 -
It's a complex issue. If producing 100% accurate bills and having enough people to answer the phone they would put their prices up so that they were as expensive as everyone else, then it would seem unwise to get them shut down for £7 a year. Like if HMRC spend £100 to recover £7. It wouldn't make financial sense.
What would you do if they proposed abandoning the fixed tariffs and putting prices up to cover the increased costs?
It's not complex at all and it's not about it making financial sense!
It's now simply about how much longer Ofgem allow Iresa to continue not complying with the terms and conditions of their Operator's Licenses before fining them.
Iresa must comply with Ofgem's Updated Supplier Guidance covering the calculation of average Calorific Value is very clear about how and why it is to be done using the methodology they have specified and it clearly states that the specified methodology for calculating the Calorific Value is to be used by all suppliers. This was issued to all suppliers on 5th August 2014.
A link to the Updated Supplier Guidance pdf file is here https://www.ofgem.gov.uk/sites/default/files/docs/2014/08/supplier_guidance_on_cv_calculation.pdf
The Regulations provide important consumer protections by ensuring that all suppliers use the same methodology for calculating Calorific Value.
This issue is about Iresa deliberately choosing not to comply with Ofgem's regulations. This may have been yet another schoolboy error when Iresa's software was first designed but they have had more than enough time and opportunity to correct this error and so far have not done so. The bottom line is that all suppliers must comply with this and Iresa cannot calculate the Calorific Value in the way that they have.
I personally notified the director of Iresa of the error in their Calorific Value calculation and provided him with a link to the pdf file on the 17th January. He acknowledged receipt the same day and stated that in light of the contents that Iresa's system would be reviewed and updated accordingly.
If Ofgem now decide to issue Iresa with a large fine for continued non-compliance they will only have themselves to blame and if they go bankrupt because of this then so be it. I'm sure that nobody wishes to see this happen but Iresa are now playing with fire if they continue doing this.
The latest info from Ofgem (via an email mentioned in one of Hengus's earlier posts) was that Ofgem had been told by Iresa that this issue would be fully resolved by today. We will now see what tomorrow or Tuesday brings but in all honesty I am not very hopeful of a resolution being provided by Iresa in the timescale that they stated to Ofgem. :rotfl:0 -
I think that it is worth looking at the issue from another supplier's point of view. Iresa say that their low prices have attracted 70k customers. Iresa will have set its prices based on the use of a fixed calorific value. BG estimates that it averages £51 profit/year from each of its customers: in simple terms, a freebie of £7 equates to 14% of that typical profit. It follows that other suppliers, not just customers, have the right to insist that there is full regulatory compliance. If this means higher fixed prices for Iresa's customers going forward, then so be it.0
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Amazingly, the gas reading I gave on the 28th of April has actually been added to my account, this is the first one since the 15th of February that has shown up (there are 4 readings in-between that haven't appeared).
No new bill yet, but the figure on the transaction tab is almost right. It doesn't list how they came by the figure but my own calculations suggest an error of 12p in my favor.
Getting there.3.6 kW PV in the Midlands - 9x Sharp 400W black panels - 6x facing SE and 3x facing SW, Solaredge Optimisers and Inverter. 400W Derril Water (one day). Octopus Flux0 -
Been following this thread , I'm switching, 6 weeks and no responses to my my online support tickets, all I receive are automatic responses. Someone is running circles around an inadequate regulator.
Sad thing is I need to leave the direct debit open or I can't leave, yet I'm not happy that these jokers will still have access to my bank account.0
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