MSE News: Energy firm Iresa ceases trading - here's what it means for customers

Lotak

macman wrote: »

Then just decline their offer to fit one. It's a waste of time anyway until they are SMETS2 compliant.

I will never understand who in their right mind thought it was a good idea to introduce SMETS1. The fact that it goes "dumb" if a customer switches is evidence that it was doomed to fail. It was such a stupid, stupid, stupid idea and a colossal waste of money (which we will end up paying for in higher unit costs).

I can just imagine it:
[1] So these Smart meters are going to be great! Save customers hundreds of pounds
[2] Any downsides to the meters?
[1] Not that I can think of.
[3] What if the customer switches?
[1] Oh. Then the meter goes dumb and acts as a standard meter.
[3] Isn't that a bad thing?
[1] Nah. Most people don't switch!
[2] and [3] Seems legit.

JohnB47

Lotak wrote: »

I will never understand who in their right mind thought it was a good idea to introduce SMETS1. The fact that it goes "dumb" if a customer switches is evidence that it was doomed to fail. It was such a stupid, stupid, stupid idea and a colossal waste of money (which we will end up paying for in higher unit costs).

I can just imagine it:
[1] So these Smart meters are going to be great! Save customers hundreds of pounds
[2] Any downsides to the meters?
[1] Not that I can think of.
[3] What if the customer switches?
[1] Oh. Then the meter goes dumb and acts as a standard meter.
[3] Isn't that a bad thing?
[1] Nah. Most people don't switch!
[2] and [3] Seems legit.

I could add:

[1] But won't word get out that SMETS1 are cr*p and people will refuse to have them fitted?
[2] Well, word will get out but most people aren't remotely technically minded and/or have their lives to live. So they won't really understand and we can go on implying that it's mandatory to fit SMETS1 in the meantime.

Raxiel

johnpr98 wrote: »

Thus far after numerous emails with Octopus I am no further forward then the first email when Octopus were appointed, I want to move supplier ASAP and I am stuck in limbo, am I the only one who hasn't heard anything? I was in Credit by over £34 with Iresa on August 1st, I stopped my DD and now I may go into Debit in early September, then Octopus will probably block my move, What a mess

If it gives you any peace of mind, the way its supposed to work is, unless the debit is significant (over £200 I believe) a supplier shouldn't block the transfer, the debit/debt is just resolved via the final bill.


Of course if a company has cash flow problems and is already in the regulators bad books like Iresa were, they might start playing silly beggars over a few pence.


Octopus are (presumably) in a better position, and are unlikely to mess you around.

itchyfeet123

That was quick! I disputed my final offer of ~£450 yesterday evening. I asked for ~£500, and wrote a (perhaps overly) detailed explanation of how I arrived at that figure. This afternoon they sent me a new offer of exactly what I'd asked for, to the penny. Such a dramatic change from Iresa!

molerat wrote: »

All the switching sites I have used include VAT in the unit prices. The majority of energy companies also quote VAT inclusive prices in their communications.

The two switching sites I looked at both had unit charges exclusive of VAT then a separate line for it in their estimate of my annual charges. They could both be in the minority.

Ian_W

Got to say Octopus got everything spot on for my account, full marks for that but still switching away as they are £140 dearer than Iresa were and £112 more expensive than my cheapest quote from Eversmart.

Eversmart have quite carp ratings so I decided to go with Bulb. Yes it's a variable tariff but they give you 60 days notice so plenty of time to switch again if they have a price rise. They have great CS rating but better still I used an existing customers referral code meaning they get £50 credit and so does the new customer (me). That brings the price down to near enough the cheapest quote.

Plenty of referral links on Referrals Board so I won't bother adding mine but certainly beats cashback from Cheap Energy Club or other sites.

gardner1

Ian_W wrote: »

Got to say Octopus got everything spot on for my account, full marks for that but still switching away as they are £140 dearer than Iresa were and £112 more expensive than my cheapest quote from Eversmart.

Eversmart have quite carp ratings so I decided to go with Bulb. Yes it's a variable tariff but they give you 60 days notice so plenty of time to switch again if they have a price rise. They have great CS rating but better still I used an existing customers referral code meaning they get £50 credit and so does the new customer (me). That brings the price down to near enough the cheapest quote.

Anyone want to join me, use my referral code - PM me for a link or I'm posting on referrals board tonight. At £50 for joiner and the existing customers beats cashback from Cheap Energy Club or other sites. :beer:

Reviews for eversmart aren't that bad and they have no exit fee so it was worth a punt for me

Alias_Omega

Octopus offered me £13.59 credit based upon IRESA Final Bill.


I've recalulated it, im owed - £125.82


They have overcooked the gas usage, but 200m3

Skools_Out

Ian_W wrote: »

Got to say Octopus got everything spot on for my account, full marks for that but still switching away as they are £140 dearer than Iresa were and £112 more expensive than my cheapest quote from Eversmart.

Eversmart have quite carp ratings so I decided to go with Bulb. Yes it's a variable tariff but they give you 60 days notice so plenty of time to switch again if they have a price rise. They have great CS rating but better still I used an existing customers referral code meaning they get £50 credit and so does the new customer (me). That brings the price down to near enough the cheapest quote.

Plenty of referral links on Referrals Board so I won't bother adding mine but certainly beats cashback from Cheap Energy Club or other sites.

Good job you didn't try to add your referral link to this thread again, eh? :cool:

Sorry, but Bulb Energy are not for me, sorry.

First and foremost, I am put off this supplier by the constanting spamming that they seem to rely upon to gain new customers :mad:

Of course, those spammers are set up to gain themselves financially for their spamming and arguably false representations of the supplier in question.

Bulb Energy did promise months ago to see what they could do to reduce this constant spamming of sites such as this, but so far have failed to act at all.
(If they really are stuck for ideas, they can contact me, and I'll tell them how they can stop the spamming immediately.)

I would urge customers to follow the advice of MSE
https://www.moneysavingexpert.com/utilities/you-switch-gas-electricity

i.e. to consult an independent comparison site and find the best deal for them.

e.g., for my region, an average user would have to spend more than £100 p.a. more compared with Bulb Energy compared to the cheapest offering (and that does not take into account the price increase Bulb have already indicated which is due in a few months)

So that more than covers the cashback you speak of.

Furthermore, MSE Martin advises that you do not take cashback into account when considering which is the best tariff for you.
Perhaps not least because there is evidence to show that many people who switch then do not switch again for well over a year, often several years, and cashback is only paid once when you join; the expenive tariff will continue well beyond the first year.

Anyway, I've also looked at the referral thread you mention. I see there are some MSEers who are also prepared to share up to £30 of their own bribe they revceive for spamming this supplier with a customer use uses their referral link, so why would anyone use yours?

Some refer to all theses bribes as a ponzi scheme, and with currently >500 referral links in that ligitimate thread alone, anyone joining Bulb hoping to emulate the apparent success of the early starters should realise they now have a less than 0.2% chance that anyone would use their referral (and that does not take into account those that are now offering part of their own bribe to entice newcomers)

Also, at a time of generally rising prices, MSE advice is to grab a fixed tariff. Bulb Energy do not offer any fixed price tariff, and although as you indicate they do not charge exit fees (I hope not with a variable tariff!), waiting longer will only inevitably see the removal of existing fixed price tariffs, only to be replaced with more expensive ones.

Please, readers, do not be sucked in by the spam, encouraged by those who are seeking to make a financial gain of their own (possibly to help fund their expenive tariffs they are on, ones which will be even more expensive soon). Do your own research (which is very easy to do).

Do not encourage spammers.

vicki84

Hi

I have just checked the Iresa site and I owe them £18 does anyone know if I have to pay this to the administrators or to Octopus?

Thanks

AdrianC

vicki84 wrote: »

I have just checked the Iresa site and I owe them £18 does anyone know if I have to pay this to the administrators or to Octopus?

When I got my "final Iresa bill" through from Octopus t'other day, it correctly showed my ~£75 debit - and gave me the opportunity to pay it on their site by DD, setting my Octopus account up in the process.


They've "bought the debt" from the administrators, so it's Octopus you now owe - just as those who were in credit with Iresa are now in credit with Octopus not the admins.