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

steveing64

Just received email from Coop energy confirming they are taking over contract all looks good ��

GT60

lolamancity wrote: »

Does anyone know the name of the 12 month fixed contract that GBE were selling in March 2016? I'm trying to update my MSE Energy Club thing but on the drop down menu for GBE, the names of the tariffs are all different to the one on my sign up email (just states 12 month fixes contract, no fancy name)

It may have been Ruby 12 as I joined GB energy in April / June this year




GB Energy


Fixed 12 Ruby


Unit rate 2.630p per kWh


Standing charge £32.85/yr


Your consumption From the information you've given us we have estimated you'll use 11,787 kWh in 365 days which will be charged at 2.630p per kWh.


Unit rate 9.470p per kWh


Standing charge £45.44/yr


Your consumption (exc. VAT)


From the information you've given us we have estimated you'll use 3,744 kWh in 365 days which will be charged at 9.470p per kWh.

GT60

Chris75 wrote: »

Agreed. One of the most interesting missing bits is a statement about for how long the previous prices are going to be held.

What rate will I pay under my new contract?

• There will be no change to your current tariff and you will remain on this until it is due to expire. We will of course contact you again before your current contract ends, with all the information you need

sd99

Out of interest, how many customers do Co-op energy currently have? It would be interesting to know percentage wise how much they will be growing. If significant, keeping the tariffs from GB would be a sensible move as you know most customers will leave immediately, and they could have a better plan for growth.

lolamancity

Thanks v much. Luckily, the next best tariff is £8 more a month, so I'm more than happy to be staying on the same tariff. Not looking forward to when it expires in March though

Robin9

Just had my welcome email from Co-open Energy.

Looby_lou_3

Just received email from Co-Op Energy they're my new designated supplier , email states tariff I was on with GB energy will continue until its expiry which is next October so can't complain. Well done Ofgem quite surprised that tariff honoured.

uptdale

Goes to show all the hot air about ofgem, nonsense about litigation against those that had cancelled dds, and that we would lose our balances and be forced to a 'big player' type of posts on here was complete rubbish.

It's a good result, but Ofgem could have saved everyone - including GB staff - a lot of angst if first their published guidance was not full of weasel words which created more uncertainty and questions, and second they had sorted out the deal with the Coop before GB announced that it was ceasing to trade. In fact the apparent timescale (Friday to Tuesday) for the "competitive process" by which the Coop was chosen is suspiciously short. My guess is that GB went to Ofgem well before Friday, and the process started before then, but GB's difficulties were leaked, so GB (and Ofgem) had to go public before the deal was finalised. Now who would have an interest in leaking GB's problems? Surely not one of the Big 6.....

SammenForLivet2

Bravo to the CO-Operative, they've had there challenges for sure, but it's good to see them doing the right for affected customers. I guess in time, they'll slowly migrate accounts across to their internal billing platform, from GB's off-the shelf billing system. In the interim, I presume they will continue to use GB's billing platform for customers and the same direct debit setup to minimize disruption to cashflow. Interesting now to see how much additional resource and cost is going to be required to re-setup everyone who wants to remain Direct Debits that have been prematurely cancelled.

I for one shall remain an interested customer, as I can't even beat my GB tariff with a staff salary sacrifice energy tariff

Smodlet

Hengus wrote: »

From the BBC:

Ofgem said the cost of protecting customers' balances would be funded partly by Co-operative Energy and partly by its safety net, funded by a levy paid by all energy firms.

Delete 'paid by all energy firms' and insert 'paid by all energy customers'. I suppose that we should all be thankful that it wasn't one of the Big 6 that went under.

Yeah :T Ain't the Co-op, make that all the other energy providers' customers, wonderful for bailing out GB Energy's **** ups? While Luke Watson and the other parasites soak up the sun somewhere, while setting up another half-dozen companies on their i-phones to con even more people.