Switching to SO Energy...

rarelypost

Hi,

I recently did a comparison on here and realise I can save over £500 by switching from Scottish Power and the Gas Board and doing a dual fuel deal with SO Energy. Flow Energy also offered a similar saving.

Now it seems a no-brainer but I suddenly thought - what happens if my new supplier goes phut and stops trading, that could leave me with no gas and no electricity. Now I realise my present suppliers could also cease trading but that's probably less likely, in any event if one went I'd still have the other's fuel...

Is there some scheme whereby if a supplier ceased trading there could be continuation of fuel until a new supplier could be arranged?

The thought of being without gas AND electricity for a couple of weeks frightens me...

I have looked but can't find this mentioned in the forums.

Thanks.

System

Hi - welcome to the forum. Rest assured that in the event of a supplier going bust, there are procedures in place to ensure continuity of supply. That said, getting any credit back is a grey area. You may find yourself a creditor amongst many other creditors.

You need to bear in mind that you are supplied via a national grid. When you switch to supplier 'X' all it is undertaking to do is to 'top up' the grid to balance out the energy that you consume. This is why when people say that all my energy is Green, they are kidding themselves.

Google ' OFGEM supplier of last resort' if you want to know more.

macman

Your supplies are delivered by the DNO and National Grid, not by your billing supplier. Should they cease trading, the supply will continue just as before. it's just the billing that might be delayed.

Hoopie1

The grid or OFGEM will announce a supplier of last resort - so some other energy company will provide your power/gas. As I understand it they will provide you it at their standard tariff, so if this happens you'll want to switch ASAP. Rest assured, you will continue to receive your power/gas.

footyguy

As Hoopie1 says

Any supplier can fail, and it is often said that the bigger they are the harder they fall.

If another supplier isn't arranged in advance to take over the supply (and I'm sure any of the big 6 will gladly take over any small supplier in an attempt to get back some of the customers they lost to these small up-starts that are beating the big-boys at their own game), then a supplier of last resort will be appointed by the appropriate authority

You will not lose supply at all.

I can't think of any energy supplier that has actually gone bust as such. Energy companies have changed hands since the day they were privatised, almost.
e.g. there was a supplier know as British Energy that once owned Swalec (the brand-name is now owned by SSE). British Energy itself was bought up by French supplier EDF, who are now one of the big 6 suppliers in the UK.

rarelypost

Hengus, Macman, Hoopie1 and footyguy – thanks for your inputs, greatly appreciated.

The kids went years ago and we’re a couple of disabled old fogies… I take care of most things whilst the Lady wife sits and watches TV! I don’t have a problem with that but I’d hate to do something which would leave us without power. She’d kill me!

I’ve been meaning to switch for ages and the last few days after seeing I could save over £500 I’ve been pondering – almost looking for the disadvantage(s) – and not really finding any – other than my earlier concern with a supplier going belly up…

The cheapest suppliers are-:

SO Energy
Flow Energy
Places & People Energy
EDF
Avro
NPOwer

Anyone with any preference?

Thanks again for your input, I appreciate it.

John

System

My current suppliers at the moment are Zog for gas and GBEnergy for electricity. You will need to provide both suppliers with an actual meter reading each month. Their billing is clear and simple to understand.

Hoopie1

I have been with both EDF (who were good) and NPower (who are adequate). I think Flow's reputation is quite good. The other three are very, very new to the market.

rarelypost

Hoopy1 & Hengus - thanks for your input again...

I spoke to a very helpful young lady at SO who confirmed that they have been trading for only a few months but are very happy with the rate at which they are attracting customers. At present they have nearly seven and a half thousand.

At the moment I'm still wondering which way to go...

Autumnella

if the supplier goes bust another supplier will take over billing and supplying all of their customers. There won't be any interruption in your supply.

rarelypost

Autumnella, thanks for your post confirming what others have said, basically that there would be no interruption of power if the supplier failed.

I have decided to switch both my electricity and gas to Flow Energy and the actual switch should take place in a few days. I will post back when it's all complete.

Thanks again everyone for your posts.