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

antrobus

AdrianC wrote: »

The money would come from Octopus, the people who have put their business on the line to help Iresa customers out of the mire. They took responsibility for all outstanding balances - debit and credit - on from the administrators.

No.

Octopus will repay credit balances, whatever. But the responsibility lies with Ofgem, their safety net bears the cost.

Octopus will collect payment for any debit balances, and will make arrangements with the administrators of Iressa to hand over the necessary cash.

None of these things put their business on the line. Octopus will probably gain at least some extra customers.

Matt_OX4

I had already left Iresa and was due to get circa £200 that I was in credit by refunded - is anyone else in the same situation and heard anything from Octopus? Other than an email on 1st August stating they'd taken over the Iresa accounts and I'd hear something in the next 7 days, I haven't heard anything else from Octopus.

I didn't believe I needed to do anything to get the amount I'm owed back, but it would be good to get input from others.

Thanks

Farway

Matt_OX4 wrote: »

I had already left Iresa and was due to get circa £200 that I was in credit by refunded - is anyone else in the same situation and heard anything from Octopus? Other than an email on 1st August stating they'd taken over the Iresa accounts and I'd hear something in the next 7 days, I haven't heard anything else from Octopus.

I didn't believe I needed to do anything to get the amount I'm owed back, but it would be good to get input from others.

Thanks

Similar here, but only £20 and no e-mail or contact from Octopus. I've not chased them because it is "only" £20 I was waiting for the dust to settle a bit

brewerdave

Re posts 284 and 285 - had you actually completed a switch away ie were your IRESA accounts closed? If so, I think that you claim is against the IRESA administrators not Octopus

Matt_OX4

brewerdave wrote: »

Re posts 284 and 285 - had you actually completed a switch away ie were your IRESA accounts closed? If so, I think that you claim is against the IRESA administrators not Octopus

I wasn't actually switching - I was moving house so had submitted my final meter reading at the end of June and my final bill had been posted in my online portal. Not sure if this changes the situation and what I have to do, if anything?

molerat

Have you got an Octopus account set up ? If not try logging in with your Iresa e-mail and "forgot password".

brewerdave

Matt_OX4 wrote: »

I wasn't actually switching - I was moving house so had submitted my final meter reading at the end of June and my final bill had been posted in my online portal. Not sure if this changes the situation and what I have to do, if anything?

You can't take a Utility account with you when you move house.:)
Your IRESA account will have been closed and your credit should have been returned before IRESA went bust.

You are now in a deemed contract with the pre-existing supplier(s) at the new residence -have you taken meter readings on moving in and set up an account with this/these supplier(s)?
You will have to pursue the administrators of IRESA for the outstanding credit as you were never a customer of Octopus.

Matt_OX4

brewerdave wrote: »

You can't take a Utility account with you when you move house.:)
Your IRESA account will have been closed and your credit should have been returned before IRESA went bust.

You are now in a deemed contract with the pre-existing supplier(s) at the new residence -have you taken meter readings on moving in and set up an account with this/these supplier(s)?
You will have to pursue the administrators of IRESA for the outstanding credit as you were never a customer of Octopus.

I'm not sure how you have interpreted any of that from what I said. We moved out, I submitted the final meter read closing the Iresa account on 29th June (move day), and yes, set up an account with the supplier the previous owner at my new house had been using whilst I switched to the most competitive offer.

My refund for the credit I was owed should be being processed by Octopus as far as I am aware, as from everything I have read about the subject they have taken over the credits and the debits.

I had been quietly waiting assuming, as the email I was sent by Octopus implied, that this would all be sorted out over a couple of months. Maybe I need to be a bit more proactive and call to find out what is going on.

wavelets

brewerdave wrote: »

Re posts 284 and 285 - had you actually completed a switch away ie were your IRESA accounts closed? If so, I think that you claim is against the IRESA administrators not Octopus

brewerdave wrote: »

...
You will have to pursue the administrators of IRESA for the outstanding credit as you were never a customer of Octopus.

I think, sorry I know, you are mistaken

Octopus Energy is responsible for repaying any outstanding credit balances for both current and past customers of Iresa who are still owed money

I’ve left Iresa, but have a credit balance. Will Octopus Energy pay me this money?

Octopus Energy will honour outstanding credit balances for both current and past customers of Iresa who are still owed money.

Octopus Energy will review details of any debt or credit on your account. Wait for them to contact you with relevant instructions. They will also be able to answer any questions you may have on credit on your account. The review process may take a few weeks as Octopus Energy need to get and review your records from Iresa. When calculating your credit balance, Octopus Energy will deduct any unbilled charges for your supply by Iresa. These are calculated by Iresa’s administrators.

Source: https://www.ofgem.gov.uk/publications-and-updates/iresa-customers-your-questions-new-supplier-octopus-energy

The exception is any money Iresa owed to customers as a result of being ordered to pay compensation/goodwill to them, such as by the ombudsman.

Matt_OX4

wavelets wrote: »

I think, sorry I know, you are mistaken

Octopus Energy is responsible for repaying any outstanding credit balances for both current and past customers of Iresa who are still owed money

Source: https://www.ofgem.gov.uk/publications-and-updates/iresa-customers-your-questions-new-supplier-octopus-energy

The exception is any money Iresa owed to customers as a result of being ordered to pay compensation/goodwill to them, such as by the ombudsman.

This is what I believed to be the case as well, thanks for digging out the quote from OFGEM.