GB Energy Supply reviews: Give your feedback

YorkshireTraveller

and doesn't Luke Watson the GB Energy Managing Director have an interesting career history:

https://beta.companieshouse.gov.uk/officers/Xr1YDAJuiCdOdr5EnE-d1yrwI8I/appointments

Bernard71

What a shame gb energy has failed. I have been 12 months with them and found them to be the friendliest, efficient and remarkably cheap. They produced monthly bills easy to understand.
I have changed supplier at least 6 Times including to some of the big 6 (cartel) and must say GB Energy to be the without doubt most efficient and helpful supplier. It is a very sad day for us consumers to see a small company like this a victim to unforeseen circumstances. I am sure not one of the big 6 were prepared to intervene, and are today celebrating the demise of GB energy.

matelodave

I'd guess the best thread to discuss the demise of GB energy is the one dedicated to it
https://forums.moneysavingexpert.com/discussion/5563815

Former_MSE_Imogen

Hi Forumites,

We're aware that lots of you have questions on what to do now if you're with GB Energy. We've written a news story with all the information we have on it so far and will be updating it regularly with updates, it should answer the majority of your questions so far:

http://www.moneysavingexpert.com/news/energy/2016/11/gb-energy-goes-bust-160000-customers-affected-heres-what-you-need-to-know

The key things to remember are:

- You'll be switched to a different supplier automatically, the decision on which supplier this will be should be made by Ofgem soon.
- If you're in credit with GBE you won't lose your money and will be paid back by the new supplier. We're currently asking for more details on this.
- Cancelling your direct debit may complicate things as you'll need it for the new supplier, but this is unconfirmed.

Most importantly, the new deal you'll be put on to will almost certainly be expensive, so check this via Energy Club and switch once you've got it if so.

Once again we'll be updating the news story regularly so keep an eye out there for more info.

I hope this helps!

spook

This quote from ofgem on Twitter is somewhat encouraging news for those of us who were waiting for refunds after switching away from GBES:

We're working hard to appoint a new supplier who will honour these closed account balances for customers in the switching process.

jblackmore

Just read on the other thread that Co-op are taking over all the existing GB energy customers, and will honour their current tariff/deal until it expires and all credits etc, which is fantastic news.

(The GB energy website has the announcement on now, and supposedly will be back up and running in a few days, as they have transferred/taken on the existing support team and systems - which I understand were outsourced anyway)

I understand part of the deal Ofgem have done is to use their bailout levy which supposedly will add (or already does?) about a pound to every energy customer in the UK - which is a small price to pay for security both of the currently affected customers and potentially the next batch.

I am more than happy with this even though I'm not benefitting this time, its nice to know I would be looked after if this happens again !

System

jblackmore wrote: »

Just read on the other thread that Co-op are taking over all the existing GB energy customers, and will honour their current tariff/deal until it expires and all credits etc, which is fantastic news.

(The GB energy website has the announcement on now, and supposedly will be back up and running in a few days, as they have transferred/taken on the existing support team and systems - which I understand were outsourced anyway)

I understand part of the deal Ofgem have done is to use their bailout levy which supposedly will add (or already does?) about a pound to every energy customer in the UK - which is a small price to pay for security both of the currently affected customers and potentially the next batch.

I am more than happy with this even though I'm not benefitting this time, its nice to know I would be looked after if this happens again !

According to Martin in this week's e-mail your £1 levy may be about to increase:

Is it safe to switch to a smaller provider?

Many are asking if they should stick with the Big 6 following GB Energy's collapse. Here's Martin's answer: "I suspect we'll see some other smaller firms go bust. However don't just go to the Big 6; mid-sized players Ovo, First Utility, Co-op etc have decent backing. Plus even if you go to a small firm, and it goes bust, Ofgem rules now mean there's little risk. Your credit is protected and your energy stays on as you're transferred to another supplier - you may just need to find a new cheap tariff. Don't let it put you off."

PS: I am not against consumers being protected, I am against a man with a computer getting a supply licence and when it all goes t**ts up handing back it to Ofgem to sort out.

geoffW

Excellent news about the Co-op taking over and honouring GB energy's contract and prices.
I'd already looked at MSE cheap energy club for my next contract and the Co-op was the best for electricity (for me only £17 more than GB Energy) so was planning to move to them anyway.

vale22

geoffW wrote: »

Excellent news about the Co-op taking over and honouring GB energy's contract and prices.
I'd already looked at MSE cheap energy club for my next contract and the Co-op was the best for electricity (for me only £17 more than GB Energy) so was planning to move to them anyway.

I also checked MSE cheap energy club and the Co-op came out the next best after GB Energy, it was £60 a year more but it is great that they are keeping you on the same tariff as I am on a fixed rate till Aug 2017

jblackmore

Hengus wrote: »

According to Martin in this week's e-mail your £1 levy may be about to increase:

I'm not worried as long as the levy is paid by all, if it has to go up to £5 or £10 a year to protect everyone I'm more than happy to pay my share - as I've saved way more money than this over the years by switching every 1-2 years mainly to new/smaller providers, so one day it will be me who is bailed out.

The levy is only really unfair to the big6 standard rate customers, who are already paying way over the odds, so presumably either haven't heard of switching or are happy not to bother (my inlaws resolutely refuse to switch as they don't feel they should have to, so stick to their moral ideals - I suspect they are not uncommon).