MSE News: GB Energy goes bust, 160,000 customers affected

dottyme21

this is so confusing, really not sure what to do?? I too am in credit, by a couple of hundred pounds, give or take. How are they going to let us know by how much? and will we really get it back? surely we must be allowed access to our accounts?
And what on earth do I do about my dd? cancel or no?

fredandwilma

joannasinbox wrote: »

I have tried to switch back to NPower, my pre-GB Energy supplier ( I had a previous problem that was posted on the other MSE website and I won't bore you with it here). Today, I had it confirmed, twice, that NPower have been told not to touch ex GB Energy clients until Ofgem gets things sorted out. Ofgem says two weeks. Has anyone had their post-GB bust switch CONFIRMED with any other company? Online applications do not count.

From MSE News :


What if I'm currently switching to or from GB Energy?

Some people may have already had a switch in progress when Saturday's news was announced, and we've heard of others switching away from GB Energy over the weekend when they learned it had ceased to trade.

We've asked Ofgem whether these switches will now go ahead, and will update the story when we know.

However we understand E.on isn't currently accepting GB customers who are trying to switch to it. We've asked British Gas and SSE whether they are, but have yet to receive a response from them.

It was only to be expected.

westv

westv wrote: »

I still don't really understand the reasoning for being charged higher. They say to cover the "extra risk". Surely the extra risk was GB Energy itself? Their customers would already have been checked.

Batman_100 wrote: »

There's a whole range of factors ofgem will consider when choosing which supplier will take on GB Energy's customers. The most important thing is to make sure the new supplier can handle the switching process quickly and accurately so the current uncertainty for GBEnergy customers can end.

But that doesn't explain why everybody will be stuffed with an uncompetitive rate - which is what we are told could happen.

westv

Does make you wonder "Who's next?"

wimmer

Why wasn't this advice available 3 days ago, I've switched now and cancelled DD.

[Deleted User]

westv wrote: »

Does make you wonder "Who's next?"

Any company that didn't hedge against energy prices rising or the pound falling.

lolamancity

Can anyone explain what the fact that we paid 1 month in advance at the start of our contracts means in all of this? As of 7th Nov, I was about & £40 in credit.. I've cancelled my next DD due 7th December and I'm hoping I get my small amount of credit back somehow, but I'm still confused about that big advance payment made at the start of my contract with them (£110 if I remember correctly) . Does that advanced amount go against your usage throughout your contract term or is it a mythical wodge of money up in the air somewhere? I'm probably being really stupid here, so apologies

fredandwilma

westv wrote: »

But that doesn't explain why everybody will be stuffed with an uncompetitive rate - which is what we are told could happen.

Because, as a "new" or migrated customer, you'll be placed on a standard tariff, from which you can then switch, i should imagine?

System

westv wrote: »

Does make you wonder "Who's next?"

https://www.ft.com/content/fc943f58-b499-11e6-ba85-95d1533d9a62

At least OFGEM will have a plan for the next one as it is clear that they had convinced themselves that this was probably an unlikely to ever occur event. No definitive Q and A to hand out to the media; the lack of any thought about those who were already in the switching process, and for those who had left with credit still outstanding - the list of questions goes on and on. Hopefully, the appropriate Select Committee will take OFGEM to task once the dust settles.

archersluck

I went to my bank (Halifax) and got money refunded under direct debit guarantee, I just showed the my latest email from GB energy from 2nd November which has me £100 in credit and they reversed the last 2 direct debit payments worth £78. Just need to wait for confirmation within 48 hours but they say they refund the money and then sort it out at the other end.

I know it's not on the official advice but as I've now moved in with family and don't need a new supplier I don't trust that I'd get my money back otherwise.

Lessons learnt: don't build up credit balances, and always download your online bills!