GB poll on what your next step is

veryintrigued

Apologies in advance for the further thread on GB.

My thoughts on this are that I've already cancelled my DD but wont be doing any switching until I know a little more.

What have you done since the announcement?

Nothing just yet - wait and see
Cancelled DD, not initiated a further switch.
Cancelled DD and initiated switch.
Nothing just yet - will/have contacted some other body by tomorrow - e.g. Ofgem, MP etc

System

All readings go to an independent third-party (Data Collectors) for review. They hold all your old readings and they will have annual historical data from which they calculate an Annual Quantity (AQ) for Gas and Estimated Annual Consumption (EAC) for electricity. A new supplier can raise a Readings Dispute which can take up to 12 weeks to resolve.

motherofstudents

I have done nothing so far. Next dd not due until 16th Dec so just waiting to see what happens over the next few days before cancelling it. I've only been with gb for a cople of months so 3 dd's gone out in total as I think they took one in advance. I'm not sure it's even possible to switch at this point.

sd99

My DD was due on Thursday, so couldn't afford to wait and see, so cancelled it immediately. A calculation says I was between £10 and £20 in credit as per a reading I did at the weekend (photograph taken). Now I'm just sitting and waiting...

Incidentally can anyone on Fixed 12 Crystal confirm whether or not I'd pay VAT on my unit rate of 9.8700p/kWh? I've never had a bill from them... (my first was due next week)

girl_afraid

Cancelled my direct debit, I'm just going to save the money (plus a bit extra) for now and wait and see what happens.

OneLeggedPig

Cancelled the DD. They have £160 of mine in credit. Going to wait to see what Ofgem does now.

tomthered

Can anyone advise can we just initiate a transfer to a new supplier after GBenergy have gone out of business?


@sd99 I think the VAT at 5% is added afterward as the bill usually shows it at the end. I have been with them two months but know my usage and as far as I know am up to date

bowesworld

I phoned another supplier and was told that I could switch to them but if I did Ofgen couldn't guarantee any credit I had with GB Energy.

As I'm not in credit with GB Energy I have initiated a switch..

sd99

tomthered wrote: »

@sd99 I think the VAT at 5% is added afterward as the bill usually shows it at the end. I have been with them two months but know my usage and as far as I know am up to date

Thanks for the reply - I know vat is usually added explicitly on bills, but I just wondered if the 'Fixed 12 Crystal' rate of 9.8700p/kWh (from my welcome pack) includes it or not - It doesn't say...

If anyone is able to compare their rate from their welcome pack with a bill, to see if it includes vat or not I'd appreciate it.

Former_MSE_Imogen

Hi everyone,

We're aware that lots of you have questions on what to do now if you're with GB Energy. We've written a news story with all the information we have on it so far and will be updating it regularly once we know more, however it should answer the majority of your questions so far:

http://www.moneysavingexpert.com/news/energy/2016/11/gb-energy-goes-bust-160000-customers-affected-heres-what-you-need-to-know

The key things to remember are:

- You'll be switched to a different supplier automatically, the decision on which supplier this will be should be made by Ofgem soon.
- If you're in credit with GBE you won't lose your money and will be paid back by the new supplier. We're currently asking for more details on this.
- Cancelling your direct debit may complicate things as you'll need it for the new supplier, but this is unconfirmed.

Most importantly, the new deal you'll be put on to will almost certainly be expensive, so check this via Energy Club and switch once you've got it if so. Your supply won't be cut off.

Once again we'll be updating the news story regularly so keep an eye out there for more info.

I hope this helps!

MacMickster

MSE_Imogen wrote: »

- Cancelling your direct debit may complicate things as you'll need it for the new supplier, but this is unconfirmed.

I can't believe that an organisation that supposedly represents the consumer is actually advocating potentially making further payments to a company that has ceased trading. There is no guarantee that people can have credit balances with GB energy repaid to them. In fact I believe that this will almost certainly not happen. Building up further credit balances with GB must be considered rather foolish.

Surely it is a very simple process to set up a new direct debit in favour of the new supplier as and when necessary.