Goodbye BG Collective Fix Feb 2017

DonnySaver

OMG, I've just looked at Iresa's Facebook page. Hope I've done the right thing as my 14 day cooling off period has finished. Too late to go back now. Really hope I'm not one of the unlucky ones who have problems with them and end up having to contact them :doh::doh:

philng

You would think that if there were any significant issues OFGEM would be on top of this to avoid another GB Energy.
I would expect a further significant uplift in switch requests to IRESA with the latest collectives falling short & many people coming to the end of last years collectives.

familyguy321

c_smith wrote: »

I'd heard that before but read something recently that cast doubt on it. Maybe it will work out to my benefit but I'm not banking on it.

I'm banking on it. Don't fancy paying the BG Standard Rate for even a day!

fredandwilma

plane_boy2000 wrote: »

I started the switch to Iresa last week so I'm in the cooling of period, but seriously considering backing out. A quick look at their facebook page tells a sorry story of unhappy customers and consistently poor customer service

I also saw that one of the small energy switching services has pulled Iresa due to their concerns that the model is not sustainable at current pricing levels.

I wouldn't worry. They even have time to discuss your last great sandwich on IM?

Have a query? Any switch questions? Ate a great sandwich? We want to hear about it! Don't be shy and shoot us a message on instant messenger for an instant response!

Bacon sandwich, red or brown sauce?
Like · Reply · 21 hrs

I**** Limited
I**** Limited -I'm open to debate but I only want red on my bread! (Hold the butter)

Maybe the easiest / quickest way to contact them is via IM?


I feel it's concerning there are less well informed energy consumers out there.


They must undoubtedly be running at a loss, which is unsustainable, given their previous financial accounts in 2015.

I predict their collapse somewhere around November, this year. The telling time will be when they finally submit their accounts in October?

I**** is probably too busy for financial accounts, with all their new accounts and discussing bacon sarnies on F*?

Am I being cynical? Very cynical, however, at the same time, I can understand the forumites choosing Iresa. After all, they seek the cheapest price, Ofgem has guaranteed to protect credit balances and tariffs, what is there to lose, for the general public? If you can tolerate the hassle, go for it?

Whatever happened to business plans, business funding? There definitely needs to be more regulation.

I take my hat off to Mr * if he manages to build a successful business from a £1 share?

Would i choose I**** personally, if i were switching supplier today?

No i wouldn't, so does that mean I'm not a money saver? With E.on's new reductions in price, (for my area,) and the WHD, it would still work out cheaper to stay with E.on overall, at the end of my tariff. Lots of other services available to me and importantly, excellent customer service, means no hassle. I'm glad i would have that option open to me. How far are you prepared to compromise?

But i think I'm on a different playing field to everyone else, especially with regard to my own needs from an energy supplier.

plane_boy2000

Right, having given this more thought I've decided to pull my switch to Iresa.

I'm sure there is plenty of consumer protection in place, but the reality is I cant be bothered with the hassle of dealing with them when it falls apart.

I've just taken a look at the accounts and its not pretty - appears to be being propped up by the director pumping his own cash in. You could say that it shows commitment, but I cant really see its sustainable and they are just buying market share at this point.

Cash in bank @ end of 2013 £71,753
Cash in bank @ end of 2014 £17,142
Cash in bank @ end of 2015 £12.359

At the end of 2015 the company owed its director £91,096.99

2014 shareholders funds stood at £14K, but 2015 it was -£90K - who knows what it looks like now. Very small outfit that looks on paper to be declining.

In the words of Deborah Meaden "I'm Out!"

plane_boy2000

In the interests of fair reporting I should point out that when I tried to cancel via the link in the email I couldn't as my details were not recognised.

I popped over to their facebook page and IM'd them, and to be fair, I got a response in a couple of minutes telling me my order had been found and now canceled plus an email confirmation sent immediately

STEPHENTHEPICT

I am sticking with IRESA - I'm covered by OFGEN - plus IRESA are not worried about making money at this point - they are building up market share - once they achieve the desired market share their prices will come in line (and they will rely on a certain % simply staying with them). No need for anyone to get their knickers in a twist. Great price (take advantage while you can) !

fredandwilma

STEPHENTHEPICT wrote: »

I am sticking with IRESA - I'm covered by OFGEN - plus IRESA are not worried about making money at this point - they are building up market share - once they achieve the desired market share their prices will come in line (and they will rely on a certain % simply staying with them). No need for anyone to get their knickers in a twist. Great price (take advantage while you can) !

You won't be covered by OFGEN, I'm afraid.

What % are you aiming for, then?

Knickers, hmm, I'll just go and check...............:eek:

There will always be people who will take advantage of the price.

STEPHENTHEPICT

£91K is absolute peanuts in this game !

STEPHENTHEPICT

"What % are you aiming for then ?" - this remark displays a complete misunderstanding of my point. Stay with IRESA - you'll be fine and have the cheapest energy bills on your street.