MSE News: Octopus Energy to take on Iresa's 90,000 customers - here's what you need to know

brewerdave

beardiedog wrote: »

Are we going to get any interest on our credit balances?

Love and power :rotfl:

Remember that Octopus have agreed to refund the credits due to ex customers of Iresa who had already deserted the sinking ship!!

Their cashflow must be in danger of taking a Titanic size hit:rotfl:

System

brewerdave wrote: »

Remember that Octopus have agreed to refund the credits due to ex customers of Iresa who had already deserted the sinking ship!!

Their cashflow must be in danger of taking a Titanic size hit:rotfl:

Octopus has a backer with deep pockets, and no doubt they will seek to recover all customer credits paid out from the Consumer Levy (paid for by all energy consumers):

Quote: Octopus Energy’s backer, Octopus Investments, are the UK’s largest investor in solar farms, with over £1.5 billion invested to date. Octopus-funded farms generate 40% of the UK’s large-scale solar – enough to power over a quarter of a million homes. Unquote (source The Big Deal)

System

beardiedog wrote: »

Bulb confirmed switch yesterday, not heard a dickie bird from Octopus yet.

Sadly, the processes underpinning the transfer of a domestic energy supply takes more time than most people would like. It can take the Data Collectors up to 10 days to verify the meter readings that you provided. Without these verified readings, the losing supplier cannot raise a Final Bill. It is also worth pointing out that it is the Gaining Supplier that has the responsibility for managing a switch/ transfer. In my experience, the losing supplier is unlikely to waste time telling you that the transfer has gone through.

katies_mum

Email from Octopus

We are not able to generate the final bill until we have received the final readings from your new supplier, once we have received them, it can take up to 2-4 weeks to generate the final bill and close the account.

brewerdave

Hengus wrote: »

Octopus has a backer with deep pockets, and no doubt they will seek to recover all customer credits paid out from the Consumer Levy (paid for by all energy consumers):

Quote: Octopus Energy’s backer, Octopus Investments, are the UK’s largest investor in solar farms, with over £1.5 billion invested to date. Octopus-funded farms generate 40% of the UK’s large-scale solar – enough to power over a quarter of a million homes. Unquote (source The Big Deal)

Yes,quite correct - but even huge International players can run into short term cash flow difficulties - I'm sure that Octopus have underestimated 1. the mess Iresa's management made of customer accounts and 2. the number of ex Iresa customers who have jumped ship at the earliest opportunity:)

macman

Minor update: I received am email link from Eversmart allowing me to set up my online account, after I requested one. However the functionality is about as basic as can be: it doesn't even tell me what tariff I'm on.
And then, on trying to enter my meter reading, it just gives an error message. 'Error: Register required'. So far it all makes Iresa seem pretty slick by comparison, but we shall see...

jjpmaia

So, what are people swithing to?
FOr me Iresa was perfect, cheap and never had an issue with them (electricicty only).


Ocopus is more expensive but on Uswich it says I can only save £48 a year, so I don't if its worth the trouble for £24 as I am leaving the UK in March...

gardner1

macman wrote: »

Minor update: I received am email link from Eversmart allowing me to set up my online account, after I requested one. However the functionality is about as basic as can be: it doesn't even tell me what tariff I'm on.
And then, on trying to enter my meter reading, it just gives an error message. 'Error: Register required'. So far it all makes Iresa seem pretty slick by comparison, but we shall see...

Yes i had same problem.....i emailed meter read and received response within 15 min acknowledging reading and stating they hope to have the website fully working in a few days
To be fair Octopus doesn't tell me what tariff i'm on

macman

They said they would update the meter read from their end-but it still shows 00000.

tillycat123

I emailed the readings and got a 3 word response, they have been added but account still says 00000. No anything from Octopus to say I have left, no anything to say welcome to eversmart. Agree, Iresa were far better!