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

System

facade wrote: »

I am on the GBEnergy fixed 12 emerald Feb 2017. Checking my statement today it expires on 2 Feb, yet I have not heard anything from the CoOp, or GBE.

Does this mean that they can't change me to a massively expensive tariff until after they contact me, or do I need to search for a cheap tariff now and switch myself, and while the switch goes through be paying squillions for my energy?

A contract is a contract. You have the right to complain about the lack of the 49 to 42 day notice (but check your spam filter first) but it will not stop the supplier moving you on to its SVR at contract end.

You wont be paying 'squillions'' as you put it. You are only talking about the difference between the tariff price that you are on and the SVR. If you start a 17 day switch today, the difference will be no more than a £2.

facade

Hengus wrote: »

If you start a 17 day switch today, the difference will be no more than a £2.

When you have the energy consumption of a small city, three or four pence per unit over 17 days is quite a bit

Now as to whether I can shop around to reduce that to just a penny a unit remains to be seen. Doesn't help that blueyonder email seems not to be receiving any emails at the moment, so I can't get any quotes.

System

facade wrote: »

When you have the energy consumption of a small city, three or four pence per unit over 17 days is quite a bit

Now as to whether I can shop around to reduce that to just a penny a unit remains to be seen. Doesn't help that blueyonder email seems not to be receiving any emails at the moment, so I can't get any quotes.

Why do you need e-mails to get a quote? Use a comparison site such as MSE Cheap Energy Club or theeneregyshop.com. Remember to get a meaningful annual projection use kWhs/year and not £s in any comparison. Also, ignore any savings as they will be incorrect.

[Deleted User]

facade wrote: »

Doesn't help that blueyonder email seems not to be receiving any emails at the moment, so I can't get any quotes.

The Citizens Advice Bureau energy website does not require an email address to get quotes https://energycompare.citizensadvice.org.uk/

facade

Just done that, thanks for the Citizens Advice link . I need all the figures, which suppliers hide behind TCRs and cascading menus.
From MSE energy club, and the CA, it looks like Scottish Power are winning at the moment, although their standing charge is huge, their gas is only 2.586, so the toastier I make the house, the more I save rather than sitting here shivering.

It is rather a minefield though, as the widely differing kwh prices between fuels means if you manage to save a bit of electricity say (which is the most likely saving) you can be with the wrong supplier, or if it gets cold and you use a bit more gas......

System

facade wrote: »

Just done that, thanks for the Citizens Advice link . I need all the figures, which suppliers hide behind TCRs and cascading menus.
From MSE energy club, and the CA, it looks like Scottish Power are winning at the moment, although their standing charge is huge, their gas is only 2.586, so the toastier I make the house, the more I save rather than sitting here shivering.

It is rather a minefield though, as the widely differing kwh prices between fuels means if you manage to save a bit of electricity say (which is the most likely saving) you can be with the wrong supplier, or if it gets cold and you use a bit more gas......

Consider separate suppliers. TCRs are meaningless IMHO as a way of comparing value for money. As energy prices - particularly electricity - have risen in the last 3 months, I am not sure how you think that you will make some savings.

As I suggested above, all savings are erroneous for anybody on a fixed contract with less than 12 months to run. As you are pretty close to contract end, then the cost for the next 12 months will have been based on 12 months on the SVR. Switch to a new fixed contract, and you will SAVE. However, .....

The truth is this. Compare what you have just paid for 12 months to the annual cost of a new 12 month fixed contract. I confidently predict that the cost will be higher. Use more energy than the assumed usage in the projection, and the cost will be higher still.

facade

Hengus wrote: »

Consider separate suppliers. TCRs are meaningless

Yes I realise. I have a spreadsheet into which I type the standing charges and unit rates, and then multiply it up by my assumed annual consumption (and 365 days).

I don't expect to save overall by using more, but the way they set their prices, if I make the house toasty warm, and leave the lights on, a huge standing charge and a low unit rate are the way to go.
If I turn into a miser, and sit in the cold & dark, then I want expensive unit rates and zero standing charges.
Those comparisons are a snapshot if I use exactly my projected figures.

Realistically, I want to compromise so I get the cheapest gas as I can easily use more, but using any less is a problem, with a high rate for electricity because I can probably save a bit by running round turning stuff off.

I hadn't thought of separate suppliers, you always assume (wrongly) that dual fuel will give a discount.

More work for the spreadsheet!

System

Dual fuel discounts are fixed. More importantly, they hide higher charges. For high energy users, the best scenario is a high standing charge and low unit cost. FWiW, I always run comparisons based on my annual projected usage; annual projected usage minus 15% and annual usage plus 15% to see how the best deal/s change. This year my usage is likely to be higher than over the past 2 years as the weather has been colder for longer.

DaftyDuck

Just a warning.

GB Energy has just taken nearly £80 from my account via direct debit, plus stated I'm in debit by a few more quid. This, despite my leaving on Jan 5th, and confirming by telephone the outstanding closing debit - which I paid there and then by card. I actually owe them nothing!

This debit, and the additional further demand, has no bill attached, no meter readings, no dates for the period the money is supposedly due. The on-line link gives no further bill either. As far as I can see, they've just decided to help themselves to a further slice of my cash with no reason.

Sure, I will be able to dispute the matter with them, and no doubt get a refund, I can (and have) contacted the bank (who have been helpful).

However, I would STRONGLY suggest that anyone still having any form of direct debit in place go into the bank and ensure it is cancelled from that end.

Edit to add:

Having been called by the bank, the DD appears to have been made directly by COOP Energy (can't see the details myself). It's still wrongly debited, but worrying that it appears to have been transferred so.

Pet_Troll

Just an update from my last post, I have had no further communication from my bank whatsoever, I did receive a credit on my bank statement this morning as 'DD refund' though so I guess it is all sorted now.

Thanks for everyones help.