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  • FIRST POST
    • MSE Karl
    • By MSE Karl 13th May 16, 4:21 PM
    • 42Posts
    • 10Thanks
    MSE Karl
    Octopus Energy reviews: Give your feedback
    • #1
    • 13th May 16, 4:21 PM
    Octopus Energy reviews: Give your feedback 13th May 16 at 4:21 PM
    This is a feedback thread on energy supplier

    Octopus Energy

    Please share your experience with other MoneySavers. Click reply to take part
    • Did your switch go smoothly?
    • Have you had problems since?
    • Is it easy to contact?
    The feedback comes as part of the

    Click reply below to discuss. If you havenít already, join the forum to reply.
    Last edited by MSE Andrea; 14-09-2017 at 2:53 PM.
Page 4
    • gsmlnx
    • By gsmlnx 8th Jan 18, 2:11 PM
    • 744 Posts
    • 605 Thanks
    gsmlnx
    Referral links are only to be found in the Referrals Board - have a look there.
    • michellej1980
    • By michellej1980 9th Jan 18, 1:16 AM
    • 31 Posts
    • 6 Thanks
    michellej1980
    Thanks Michelle, here's hoping!
    Originally posted by Curos
    There are some links here: http://forums.moneysavingexpert.com/showthread.php?t=5646493&highlight=octopus+referra l
    • royston vasey
    • By royston vasey 16th Jan 18, 1:33 PM
    • 14 Posts
    • 2 Thanks
    royston vasey
    Leaving Octopus
    Reply to earlsgate 19 dec 17 & jblackmore 20 Dec 17

    Did you receive your refund after pressing them? I switched on 3 Jan but they have not yet taken any action to close the account or refund my considerable overpayment, indeed they are intending to take a further monthly DD. (when I switched to them my previous major supplier tied everything up in less than 10 days).
    I would guess that nearly all their customers are keen on price comparison & as soon as the firm ceases to have the best deals folk leave in droves. Would this cause a Carillion situation?
    Last edited by royston vasey; 16-01-2018 at 1:40 PM. Reason: show to whom reply relates
    • Hengus
    • By Hengus 16th Jan 18, 1:41 PM
    • 4,878 Posts
    • 2,986 Thanks
    Hengus
    Reply to jblackmore 20 Dec 17

    Did you receive your refund after pressing them? I switched on 3 Jan but they have not yet taken any action to close the account or refund my considerable overpayment, indeed they are intending to take a further monthly DD. (when I switched to them my previous major supplier tied everything up in less than 10 days).
    I would guess that nearly all their customers are keen on price comparison & as soon as the firm ceases to have the best deals folk leave in droves. Would this cause a Carillion situation?
    Originally posted by royston vasey
    Under EU Law and the terms of their Supply Licence, suppliers have 6 weeks from the date of transfer of supply to raise a Final bill. All meter readings on switch are passed to an independent industry third-party for verification. This process can take up to 10 days. It is often the case that the losing supplier will take a further DD after the date of transfer. This will be refunded as part of your Final Bill.
    • royston vasey
    • By royston vasey 16th Jan 18, 1:54 PM
    • 14 Posts
    • 2 Thanks
    royston vasey
    Leaving Octopus
    Under EU Law and the terms of their Supply Licence, suppliers have 6 weeks from the date of transfer of supply to raise a Final bill. All meter readings on switch are passed to an independent industry third-party for verification. This process can take up to 10 days. It is often the case that the losing supplier will take a further DD after the date of transfer. This will be refunded as part of your Final Bill.
    Originally posted by Hengus
    Thank you for that info.
    Is there any protection for customers should the company fail to refund money (as with bank deposits)? Small energy companies greater risk?
    Is it wise to cancel a DD that will only add to the refund due, or will that cause problems? (I cancelled my DD when I left Sky and they failed to refund me, claiming not to have my bank details)
    • footyguy
    • By footyguy 16th Jan 18, 2:03 PM
    • 4,071 Posts
    • 1,632 Thanks
    footyguy
    Reply to earlsgate 19 dec 17 & jblackmore 20 Dec 17

    Did you receive your refund after pressing them? I switched on 3 Jan but they have not yet taken any action to close the account or refund my considerable overpayment, indeed they are intending to take a further monthly DD. (when I switched to them my previous major supplier tied everything up in less than 10 days).
    I would guess that nearly all their customers are keen on price comparison & as soon as the firm ceases to have the best deals folk leave in droves. Would this cause a Carillion situation?
    Originally posted by royston vasey
    A supplier is allowed up to 6 weeks from an actual switch away from them to produce a final bill.
    Suppliers do not usually refund until they have produced that final bill, because they won't know how much to refund.
    Likewise they cannot ask you for an additioanl payment until that final bill, as again they won't know how much you might owe until that final bill is produced.

    The majority of any supplier's customers are known as "sticky" customers. i.e one they are with a supplier (often attracted by an initial good rate) they will then stick with that customer, even after the initail deal has long expired. That often then puts the customer onto the suppliers most expensive (and profitable) deemed tariff.

    Hence why so many suppliers are happy to not only provide a very competititve tariff to attract customers in the first instance, but also often entice them even further with generous 'backhanders' to join them. The supplier knows that once they have 'snared' them, they will make a profit from most of them ... eventually.
    Last edited by footyguy; 16-01-2018 at 2:08 PM.
    • footyguy
    • By footyguy 16th Jan 18, 2:18 PM
    • 4,071 Posts
    • 1,632 Thanks
    footyguy
    ...
    Is it wise to cancel a DD that will only add to the refund due, or will that cause problems? (I cancelled my DD when I left Sky and they failed to refund me, claiming not to have my bank details)
    Originally posted by royston vasey
    As you have found with other contracts, it invariably causes issues.
    The supplier should stop collecting payments eventually, but it's one of the issues you have to consider when switching supplier. i.e. you may be paying 2 direct debits to 2 different suppliers for a month or 2 after switching.

    In fact I had an issue with one of the big 6. I was paying by DD, they eventually sent me a final bill, and to be fair did not attempt to collect further payment by DD after that final bill had been produced.

    However, the final bill showed I was owed a small credit, which they were to refund me. So as no further payment was to be collected, they could not inform my bank to cancel the DD mandate.
    So I then cancelled it.
    That sent EDF's computer almost into meltdown.
    Fisrt the snotty letter saying I had cancelled my DD mandate (as the bank tells the supplier) and I should contact them to reinstate it immedaitely.
    Then a revised final bill, this one cancelling the last 3 months charges and re-applying them at the standard varaible tariff without any DD discount, allegedly because I was in beach of contract, and that was what the contract allowed (if it occurred mid contract)

    To be fair, after I then contacted them, they did agree it was silly in my circumstances, and re-instated the original final bill. And then re-instated the Direct Debit mandate(seems they could do it themselves anyway), which apparently they needed to do to send me the credit they owed me.
    So then I had to cancel it again...
    • footyguy
    • By footyguy 16th Jan 18, 2:27 PM
    • 4,071 Posts
    • 1,632 Thanks
    footyguy
    Thank you for that info.
    Is there any protection for customers should the company fail to refund money (as with bank deposits)?
    Originally posted by royston vasey
    Unlikely to happen. If the final bill, correctly calculated, says you are owed money, the supplier should pay it.
    If not, follow the supplier complaint procedure

    Small energy companies greater risk?
    Originally posted by royston vasey
    If anything, it was the larger companies who were the ones found to at one time held onto your money

    https://www.moneysavingexpert.com/utilities/reclaim-energy-bill-refunds

    But the rules have now been made clear. They must refund money owed once you leave them. (Note that MSE article is now archived)

    Good luck!
    • Hengus
    • By Hengus 16th Jan 18, 2:28 PM
    • 4,878 Posts
    • 2,986 Thanks
    Hengus
    Thank you for that info.
    Is there any protection for customers should the company fail to refund money (as with bank deposits)? Small energy companies greater risk?
    Is it wise to cancel a DD that will only add to the refund due, or will that cause problems? (I cancelled my DD when I left Sky and they failed to refund me, claiming not to have my bank details)
    Originally posted by royston vasey
    There are two protections:

    1. If they are still trading you can report them to Ofgem for a breach of their Supply Licence, and you can make a claim through The Small Claims Court.

    2. If they go out of business, then your unpaid credit is protected by Ofgem under its Supplier of Last Resort procedures. I had transferred away from GBEnergy when they went bust, and my £70 credit was refunded to me by the new supplier a few weeks later.
    • royston vasey
    • By royston vasey 16th Jan 18, 3:28 PM
    • 14 Posts
    • 2 Thanks
    royston vasey
    2. If they go out of business, then your unpaid credit is protected by Ofgem under its Supplier of Last Resort procedures. I had transferred away from GBEnergy when they went bust, and my £70 credit was refunded to me by the new supplier a few weeks later.
    Originally posted by Hengus
    Very good. Thank you for your help, a re-assurance. In these post interest days firms holding on to my money is no great loss as long as the capital sum arrives (fairly) eventually. I note that Tonik offer 3% interest on credit balances (however calculated). Should ensure prompt settlement when leaving!?!
    • jblackmore
    • By jblackmore 17th Jan 18, 8:45 AM
    • 97 Posts
    • 37 Thanks
    jblackmore
    Reply to earlsgate 19 dec 17 & jblackmore 20 Dec 17

    Did you receive your refund after pressing them?
    Originally posted by royston vasey
    My supply switched away from Octopus on 17th November.

    I thought Octopus website said final bill would be within 28 days, so chased by email on 18th December at 08:51 and got final bill email at 16:50 same day, advising credit balance would be refunded within 10 working days

    Money was credited to my bank account on 22nd December (so 4 working days later), so I cancelled DD that day.

    December DD (due on 7th) wasn't taken, but I did get an email on 30th December asking for meter readings, and on 3rd January complaining I'd cancelled direct debit and to contact octopus within 5 days to arrange payment, I ignored these as clearly automated emails. I was surprised Octopus weren't a bit more up to date, but I am guessing they don't run the system themselves but are using one of the big suppliers billing systems which are as old fashioned as they are.

    6 weeks seems crazy to allow for final bill, but the whole energy market is clearly not run for customers, as the hassle/delay of switching is ridiculous, I don't understand why they need a 3 week cooling off period (ripping off period more like), 6 weeks for final bill and 10 working days for refund are all ridiculously stretched out to the benefit of suppliers and to put people off swapping.

    I don't think there is much risk of a Carillion style collapse, as these 'energy companies' don't really do very much, they don't actually supply energy, at most they just provide billing and customer services (and many outsource this to existing suppliers who have the infrastructure, or call centre management companies). Given they must know their energy cost in advance to set tariffs they shouldn't be able to make a net loss providing they have a calculator. And surely they should appreciate the nature of the energy market is new suppliers come in cheaper, then when they increase prices after the first year a significant number of customers will jump ship (as they did to join), so they must plan around this to not overcommit.

    GB energy (who I was leaving just as they collapsed) I understand only had a handful of actual employee's, everything from call centre to billing was outsourced.
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