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

uptdale

I'm not sure why anyone would care about the sustainability of the company taking over from GB energy, when you didn't consider the sustainability of GB energy itself or got it so wrong.

Me and 160,000 others, encouraged by the government and fed up with the lousy service of the Big 6. The difference now is that it seems clear that Ofgem does no due diligence on the viability of energy companies, large or small. We got a good result this time, but you have to worry about the sustainability of the Ofgem safety net. GB was a small company. What would happen if a larger energy company failed?

phillw

uptdale wrote: »

Me and 160,000 others, encouraged by the government and fed up with the lousy service of the Big 6.

So it wasn't (like pretty much everyone on MSE) driven by cost?

uptdale wrote: »

The difference now is that it seems clear that Ofgem does no due diligence on the viability of energy companies, large or small.

I didn't realise that was their responsibility. They are continually criticised for not doing enough to drive down the prices that consumers pay, if you want them to worry about sustainability then they need to also push for high prices.

uptdale wrote: »

but you have to worry about the sustainability of the Ofgem safety net. GB was a small company. What would happen if a larger energy company failed?

The big 6 have enough customers on higher/variable tariffs, GB energy had too many loss leading/fixed price customers. But in the unlikely event of one of the big 6 going under then the I expect the levy would go up. We're pretty lucky to have had so much stability with energy, lots of countries don't enjoy the same luxury and even we didn't until Margaret Thatcher sorted out the unions. Maybe those solar power panel scams weren't such a bad idea after all.

oldwiring

For the future, it's said, "2/3rds of start ups fail within a year, so I'd be wary of something without 3 years behind it.

Hope yo all get it sorted successfully.

westv

Despite the MSE advice of taking meter readings asap, I was going to do them this weekend. Presumably, I don't need to bother now.

slpj

MSE are saying their TOP PICK is now Places for People energy. Another SMALL company.

Are they going to go bust next?

OneLeggedPig

slpj wrote: »

MSE are saying their TOP PICK is now Places for People energy. Another SMALL company.

Are they going to go bust next?

The MSE kiss of death....

Raging_Bull

I'm £40 in credit and nothing was taken out today.

sd99

I'm due to to be billed and need to submit my readings - I'm guessing this isn't possible yet...?

JJ_Egan

sd99 wrote: »

I'm due to to be billed and need to submit my readings - I'm guessing this isn't possible yet...?

No but do log your meter readings .
My last GB reading was a day before closure and since i have taken two readings and will now take one weekly until transfer sorted .

abbeyscruffy

A heads' up for those posting on this thread. I have logged into the GB website during the last hour & the online account facility is now back up & running.

I have also been able to supply a new meter reading. All I need now is a PDF bill.

I've been supplied electricity only via GB Energy for 6 weeks now & have not received a bill/statement yet. From what I have been reading, it seems that I'm not alone.