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

avgjoe

I switched out from GB Energy Supply and started with Scottish Power on the 14th, but still have several hundred pound credit with GB Energy supply, and an incorrect final meter reading (which I informed them about on the 14th but never heard back and no answer on phone on 21st onwards)

They also billed me the higher rate on the last day even though their email earlier stated swaps that occur within 30 days of price change would not be billed at the higher rate.

What should I do to reclaim my credit and also start at the correct reading with my new supplier as presumably there won't be an agreed read process or refund of the overpayment?

veryintrigued

This is something I wont be doing.

I must have switched 10 times over the past 15 years and I bet 60% of those switches had issues and a third I had to either threaten or indeed ultimately involve the ombudsman.

Switching now (whilst ofgem are in the process of moving us to a second supplier) means the added complication of a third supplier!

I'll be hanging tight for a little while.

System

avgjoe wrote: »

What should I do to reclaim my credit and also start at the correct reading with my new supplier as presumably there won't be an agreed read process or refund of the overpayment?

The good news is that your starting meter reading will be resolved between your new supplier and the data collectors who hold all your meter readings. The bad news is that unless OFGEM can do something about final bill credits then you and I will go on a long list of unsecured creditors with little chance of getting our money back

E-mail consumeraffairs@ofgem.gov.uk. The more of us do, then the more notice they might take.

[Deleted User]

Also email your MP to try and maximise pressure on OFGEM to sort out the credit balance repayment for ex-customers.

Tumsk

Oddly, a meter reader appeared on Friday. Maybe just a coincidence! I'll cancel the DD before the next payment as we were £300+ in credit 10 days ago. Hopefully MSE will have some further guidance during the course of tomorrow on if initiating a switch before the SoLR process will work. I'm concerned that if the credit balance gets transferred to the SoLR as part of the OFGEM process then switching now might mess up recovering the funds.

cing0

I've not read the document https://www.ofgem.gov.uk/publications-and-updates/supplier-last-resort-revised-guidance-2016 but I assume any old supplier will be selected by ofgem and they will use deemed (estimated) meter readings and put you on a standard tariff (ie no 'deal').
I switched from GB energy supply on Saturday morning after seeing the website was closed.
I think these small suppliers are just a scam like any other scam - they take over a month to switch (when it should be 17 days) to build up a credit balance and moan and wriggle when you want to change the DD level. I bet they use the cash on the money markets to make a profit. Avro energy is another that takes 30 days.
Don't rely on Ofgem. I've been told many times they won't get involved with individual issues.
Feel sorry for the recent switchers with a credit balance :-(

facade

My concern is that leaving it to the SoLR might mean I have no funds to recover, they could easily double our current prices to include the "risk factor", EON are 60% more today than GBE were, a month or so of double prices and I will owe above my credit balance.

Robin9

facade wrote: »

So to reiterate the single most important question

Can we switch now? (Not should we, can we?)

My preference is to switch now. What is to stop me ?

facade

As I see it,

1) you will lose your credit balance. Not a biggie for me, as I've been with them 10 months, so I've forgotten paying a month before I started, and I can believe that my last DD paid for November. (I don't mean I'm so flush I can just throw it away, but I perceive it as paying for November, If I get it back - bonus)

2) If there is no current supplier to contact, will they be able to switch you. I know that if you just move into your first empty house you have no current supplier, but the property had a previous supplier. I can't really see that being a problem.

I will see what tomorrow brings, and most likely switch to Npower as the cheapest cap until Dec 2017.

matelodave

I don't know anything about GB Energy going belly-up. No one has told me so I assume that I can initiate a switch when ever I like (already done it) and can cancel my DD as I'm about a month in credit so it should balance out when my contract finishes. I don't have any contracts at present with any other company so if they take over then one assumes that they should recover any money between now them taking over should come from GB

If it doesn't then I'll either owe them a small amount or they'll owe me a small amount which I won't be too worried about if it gets lost. In fact the longer it takes the more likely it is that I'll owe them some and they can send me a bill.

In the meantime I'll be saving my DD money ready for the next supplier.

I've got all my staements downloaded so I know exactly where I stand within about 25p and I've kept my DD under control so there's not a big credit sitting there - so I'm not overly worried.