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

sd99

Another nice touch is that Co-op are keeping GBs staff.

Scotlands_Lite

Glad that customer base & staff of GBE got a quick and seemingly advantageous resolution, but does this mean that Co-op are now operating a two-tier tariff structure with only the ex-GBE customer base on the (I assume) cheaper level? - btw I am currently nor have ever been a customer of either supplier.


Also, have OFGEM in their competitive bidding process (though I'm sure that each bidder was given some indication of the level of levy subsidy they could expect) set an unrealistically high bar for any SoLR bid offer when more failure(s) inevitably occur - if so the cost to everyone could be a lot higher.

charlie53_2

I can't believe some people are being critical of Ofgem here.

They've found a new supplier for us within 4 days of GB going out of business and we've experienced no interruptions to our electricity supply. On top of that Co-op will honour our old contracts.

Pretty fantastic if you ask me :T

sillygoose

Ironically when GB-E started to wobble I ran all the comparison sites and the COOP was by far the cheapest for me to switch to, just didn't get a chance to do it.. going to happen now anyway..

Scotlands_Lite

Sorry but neither statement was meant as a criticism of OFGEM - I agree that they've resolved the issue much better than most had expected.


My first para is a straight question to anyone who knows, and my second is based largely on OFGEMs own statements on the likely course of any SoLR process, both from their own website docs and the latest Oct 2016 guidelines to industry partners.

jamesperrett

Will those of us who are Co Op members see any share of the profits?

veryintrigued

jamesperrett wrote: »

Will those of us who are Co Op members see any share of the profits?

Profits? They'll be taking a hit - certainly initially.

joannasinbox

I am overwhelmed by people's generosity of spirit!
I posted my sob story about me being cut off gas and having family coming from abroad for Christmas, on the same day that GB Energy went bust, everywhere I could. I was begging help.

1) On this forum, people have responded immediately and posted many helpful suggestions.
2) Npower support, despite me having left them in April and not being able to take me back, called contractors on my behalf.
3) Ofgem responded quickly and tried hard to help. I think they contacted National Grid and asked them to help me.
4) National Grid, who originally said they could not help, called me from three different departments, all offering genuine support (personal phone numbers etc.)
5) GB Energy, answered on the first ring and did their very best. My problem was minor, in comparison to them losing their jobs, just before Christmas. They really couldn't have been more helpful. Ultimately, they were the ones who sorted out the problem. I will miss them and I hope they'll all find fab jobs soon.

I have been rude about various customer services in the past. This time, I have encountered nothing other than good will and people not 'going by the book'. My sincerest thanks to all.
YOU HAVE SAVED MY CHRISTMAS!:rudolf:

System

veryintrigued wrote: »

Profits? They'll be taking a hit - certainly initially.

I doubt it. The SoLR procedure allows them to agree/recover extraordinary costs either by setting a Deemed Tariff or through the industry levy. Ofgem has set the bar high and there will be no going back if, or when as some industry pundits suggest, the next small supplier goes to the wall. Good for customers but not good for the sector or Ofgem who issues supplier licences.

slpj

Hi there,

OK, thanks very much.