IRESA, One Select, Together Energy

TickersPlaysPop

There are so many very new companies, with little or no accounts published. Who has done proper background research on these companies?!

Looking at Compamies House info, sucn as directors and accounts figures is not comforting reading.

The compare websites have little or no guidance on this sort of info, it is ridiculous!

How do we know if they have set up the company correctly, employed phone staff, admin, managers, premises etc etc

Compare web sites are adding almost no added value to help us, but selling themselves to be the ones helping us ? They should be getting their well paid bottoms off the office chair into their quality exec cars and go and audit these places?

There must be a decent website with well researched up to date advice on the energy companies? No wonder so many people don't switch.

System

TickersPlaysPop wrote: »

There are so many very new companies, with little or no accounts published. Who has done proper background research on these companies?!

Looking at Compamies House info, sucn as directors and accounts figures is not comforting reading.

The compare websites have little or no guidance on this sort of info, it is ridiculous!

How do we know if they have set up the company correctly, employed phone staff, admin, managers, premises etc etc

Compare web sites are adding almost no added value to help us, but selling themselves to be the ones helping us ? They should be getting their well paid bottoms off the office chair into their quality exec cars and go and audit these places?

There must be a decent website with well researched up to date advice on the energy companies? No wonder so many people don't switch.

The short answer is that we do not know if the supplier is anything more than a person with a laptop in an attic flat? The Head of CItizens Advice has said that Ofgem needs to carry out more financial and suitability checks on potential suppliers but so far Ofgem’s only response is ‘we will consult’.

I am not sure that checking suppliers is anything that any PCW would want to take on ( or has the expertise to take on) or something that the 50 or so suppliers would willing agree to. I cannot see caveat emptor ever changing. Arguably, with Ofgem’s consumer protection levy, credits are now better protected than is the case with broadband or mobile phone contracts.

footyguy

https://www.ofgem.gov.uk/licences-codes-and-standards/licences/licence-conditions

Norman_Castle

TickersPlaysPop wrote: »

There are so many very new companies, with little or no accounts published. Who has done proper background research on these companies?!

Looking at Compamies House info, sucn as directors and accounts figures is not comforting reading.

The compare websites have little or no guidance on this sort of info, it is ridiculous!

You might need this information if buying shares in a company but not for them to supply energy to you.

System

Qn: How much will it cost me to get an electricity and gas supply licence?

Ans: £450 for each application.

The responsibility for ensuring that suppliers meet ALL their Licence obligations sits with Ofgem. Unfortunately, Ofgem's record on taking enforcement action against suppliers continues to be wholly ineffective. Indeed, should a consumer bring a Licence breach to Ofgem's attention, their standard reply will usually include a paragraph like this:

Quote: With regards to due diligence checks there are a number of technical codes and standards new suppliers have to meet. Our guidance on licence application makes clear that being granted a licence does not mean that Ofgem have given any endorsement to the applicant or any associated person, their financial status or their business plan or methods. We do not give any guarantee or warranty that the licensee or any related person is 'fit and proper'. Unquote

Do we need a Consumer Energy champion with legal oversight powers to hold Ofgem to account for its actions/inactions? In my view, the answer is 'yes'.

TickersPlaysPop

Thank you all for your responses, it all confirms my suspicions.

Maybe there is business to be had in getting a moneysavingexpert seal of approval if Martin Lewis still had control? Surely taking a day to go and visit the premises and staff is all that is needed. A background check on the owners would help?

OLADEJI, Adeniyi Oluwaseun director and owner of IRESA

Does anybody know about this guy, director and IT consultant... and very bad reviews on TrustPilot of IRESA

TickersPlaysPop

Times article on IRESA...

April 2017 shut it's doors to new customers:

https://www.thetimes.co.uk/article/energy-group-bars-clients-after-warning-by-ofgem-c7kt7rk6t

System

TickersPlaysPop wrote: »

Times article on IRESA...

April 2017 shut it's doors to new customers:

https://www.thetimes.co.uk/article/energy-group-bars-clients-after-warning-by-ofgem-c7kt7rk6t

Iresa is now trading again.