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

[Deleted User]

Mikeyorks wrote: »

Do I take it you were on a variable tariff with GB Energy? If not - why would you switch?

It could be that the fix is due to end in the next few months and people may prefer to sign up at today's prices rather than at what may or may not be available at the end of their fix.

Alternatively something like M&S Fix & More 2 years (I think it's called) pays a £40 voucher as well as CEC cashback (or quidco) so it can be advantageous to switch now if you think that offer won't be available for that long as the vouchers and cashback cover the increase in cost, and you then have a longer term fix with no penalty for leaving if rates do improve. I've looked at electricity only; the effect may be diluted if looking at gas as well.

facade

anactuary wrote: »

It could be that the fix is due to end in the next few months and people may prefer to sign up at today's prices rather than at what may or may not be available at the end of their fix.

My fix ends at the end of January. By all accounts, energy prices are due to skyrocket shortly, because of Brexit, the cold weather, Trump being elected, insert random fact here

Choosing a new capped rate is a nightmare, as they all have different standing charges, and wildly different kWh rates. At the moment, NPowers Reducing fix 'till Oct 2018 is the winner, but if I were to use a bit more electricity, things would change.

The Co-Op festive fix is cheaper for me, but it is shorter, and has a £60 leaving penalty

My tongue in cheek suggestion on the other thread is for one of us to start an energy company, we all sign up to 10 year fixes at a competitive rate today, then when it goes bust, according to precedent, we will get the 10 year fix honoured by the SoLR, and the less savvy consumers foot the bill!

Majestic1919

Have spoken to GB staff twice today. I needed to query the increase emailed in October and was told that all customers received a 30% increase. Was told in the second call that Head Office had sent these emails to everyone by mistake and those on a fixed rate shouldn't have been included.

Was also told I was in credit, so queried the higher direct debit being taken from my bank on Monday 29th. I was told that all DDs had been suspended by GB Energy on Thursday 24th. It hadn't appeared on the GB system so was advised to contact my Bank. The Bank said they would return it to my account tomorrow.

GB customer service are also going to put a review on my account which should take me back to the previous rate and this will be done as soon as the Co-op have got the new DD system in place, which according to their latest email. should start to take place on Monday.

The staff have always been super helpful on the few occasions that I have needed to contact them since switching in May.

Thank you GB Energy staff!

Majestic1919

From the latest Co-op email received today

"We are developing more detailed plans, working closely with Ofgem, and we will contact you again before 15th December 2016 with an update on our progress."

Mikeyorks

Majestic1919 wrote: »

1) Was told in the second call that Head Office had sent these emails to everyone by mistake and those on a fixed rate shouldn't have been included.

2) I was told that all DDs had been suspended by GB Energy on Thursday 24th. It hadn't appeared on the GB system so was advised to contact my Bank. The Bank said they would return it to my account tomorrow.

1) I'm on a fixed rate and the only email I had from GB Energy in October was to reduce my DD payments following my first quarterly bill.

2) There may be a little more truth in that. As Thu 24th is the day they would initiate the file to BACS for the 3 day DD cycle to collect my payment due 27th (but a day late because of the weekend). When my payment was taken that proved GB had requested the payment but I did half expect it may bounce back if their Bank had put a stop on incoming transactions. But the fact it hasn't bounced back suggests it's got to GB and they're still trying to work out how to process payment transactions and keep both sides (the liquidator on one hand and Co-Op energy on the other) of the equation happy. If the payment had bounced at the GB end then I would have expected it back by now. I trust your Bank haven't interpreted your query as a claim under the DD Guarantee.

Majestic1919

" If the payment had bounced at the GB end then I would have expected it back by now. I trust your Bank haven't interpreted your query as a claim under the DD Guarantee."

The payment seems to be floating between the two (the amount left my account on Monday - GB Energy could see nothing incoming on their system, Bank stated it was pending), but the Bank initiated the payment into my account under the guarantee.

Haven't cancelled the DD. Will just have to wait until they can correct the amount, as it has been confirmed that I am in credit and shouldn't have received an increase.

jblackmore

Majestic1919 wrote: »

Have spoken to GB staff twice today. I needed to query the increase emailed in October and was told that all customers received a 30% increase. Was told in the second call that Head Office had sent these emails to everyone by mistake and those on a fixed rate shouldn't have been included.

I was a GB Energy variable rate customer and DID NOT receive any email or other notification in October (or ever) of the November 30% increase, so I suspect there was an issue with the email notifications not being sent to everyone they should have.

Only notifications I received by email from GB Energy other than bill/meter reading emails were:

14th+23rd July notification of 7% increase from 21st August
31 August - notification of change to quarterly billing (which I took as the beginning of the end)

I spoke to GB Energy by phone on 19th October when I saw mention of 30% increase on this forum, and said I'd had no notification of a November increase, which they didn't dispute, so clearly there was an issue with these emails not being sent to everyone.

Not sure where you stand on an unnotified price increase, my understanding is that suppliers have to notify you 30 days before increase, and allow you to switch without penalty without suffering increase (even if it takes you over the 30 days), so unless they can evidence you were notified by email somehow (they'd need a server log confirming your specific email was sent I guess ?) I wonder if you can switch now and not pay the higher rate ?

Hammer_Time

Mikeyorks wrote: »

It does appear that payments received from Sat onwards haven't been applied to accounts. I had a DD leave early hours of Monday and that's not been credited yet.

Taking over the system / staff etc is one thing - but I did expect the money side to take a little longer. I'm sure the liquidator will happily give access to the fixed assets and people - but the bank account(s) will take longer to resolve, so I won't be fretting for a while.

I also had a D/D payment taken from my bank account on Monday 28/11/16. I have now check my GB Energy account and it's not showing. I looked back at previous D/D going in and it normally takes 5 working days, I will check again on Monday 05/12/16, hopefully it will be showing.

I checked my account today and the payment is not showing. Phoned GB Energy they stated the credit will be added to my account but it may take 10 days or so I have no problem with that.

spook

Have any of the ex-GB customers here had any sort of communication from GB/Coop yet about refunds?

slpj

jblackmore wrote: »

I was a GB Energy variable rate customer and DID NOT receive any email or other notification in October (or ever) of the November 30% increase, so I suspect there was an issue with the email notifications not being sent to everyone they should have.

Only notifications I received by email from GB Energy other than bill/meter reading emails were:

14th+23rd July notification of 7% increase from 21st August
31 August - notification of change to quarterly billing (which I took as the beginning of the end)

I spoke to GB Energy by phone on 19th October when I saw mention of 30% increase on this forum, and said I'd had no notification of a November increase, which they didn't dispute, so clearly there was an issue with these emails not being sent to everyone.

Not sure where you stand on an unnotified price increase, my understanding is that suppliers have to notify you 30 days before increase, and allow you to switch without penalty without suffering increase (even if it takes you over the 30 days), so unless they can evidence you were notified by email somehow (they'd need a server log confirming your specific email was sent I guess ?) I wonder if you can switch now and not pay the higher rate ?

As I mentioned previously, I too haven't had ANY commications from GB energy, since joining them in August this year. No emails from them AT ALL.. I told them when I joined that I wanted paper communications and bills. None received. I rang them the other day and was told that they sent me notification of the increase in the post. I assured them that NOTHING has arrived, and that I did not know about the increase, and hence had no chance to switch.

Now that another person has said the same thing, I'm going to complain and refuse to accept the increase.

If jblackmore wishes to contact me, I will back you up, if you back me up in a complaint to GB energy. You are my proof and I will be yout proof..

I am now switching to First Utility. Black Friday deal April 2018 fixed. I'm switching because I was on the GB variable saver rate I was talked into when I joined..

First Utility Rates are as follows.----

first-utility Black Friday April 2018 | Fixed till 30 Apr 2018

GAS Unit rate 3.014p per kWh Standing charge 8.500p per day Tariff ends on 30 Apr 2018
ELEC Unit rate 15.177p per kWh Standing charge 12.466p per day Tariff ends on 30 Apr 2018

Good deal for me, as I'm a low kwh user and this has low standing charges for both g and e. In fact this only comes out at £2.00 per month more, than GB energy BEFORE they whacked on the 30% increase.