Final Bill From Economy Energy

Johno100

Got my final bill from EE this week, all seems OK. Says I need to wait 3 weeks before contacting OVO for my refund, does that sound right?

BTW has anyone else submitted a claim in the Administration for the Statutory Interest they're owed?

pooch

Johno100 wrote: »

...

BTW has anyone else submitted a claim in the Administration for the Statutory Interest they're owed?

What Statutory Interest??? :huh:

Afaik, statutory interest only applies to business to business contracts (Late Payment of Commercial Debts (Interest) Act 1998), or I understand can apply to some debts subject court orders, where the court awards interest as part of the judgement.

In any event, how much interest do you think would accrue in 3 weeks?

Johno100

pooch wrote: »

What Statutory Interest??? :huh:

Afaik, statutory interest only applies to business to business contracts (Late Payment of Commercial Debts (Interest) Act 1998), or I understand can apply to some debts subject court orders, where the court awards interest as part of the judgement.

In any event, how much interest do you think would accrue in 3 weeks?

Statutory Interest also applies when there is an insolvency event and is equally due to consumers as it is trade creditors. (See Rule 4.93 of The Insolvency Rules 1986).

And it also runs from the date of Administration not when OVO get around to paying.

molerat

But there is no payout from the administrators, any refund comes from the levy placed on suppliers.

Johno100

molerat wrote: »

But there is no payout from the administrators, any refund comes from the levy placed on suppliers.

So are you suggesting OVO should be responsible for my Statutory Interest?

pooch

Johno100 wrote: »

Statutory Interest also applies when there is an insolvency event and is equally due to consumers as it is trade creditors. (See Rule 4.93 of The Insolvency Rules 1986).

And it also runs from the date of Administration not when OVO get around to paying.

What?
"Where a debt proved in the liquidation bears interest..."
- it doesn't!

Or are you suggesting any of this applies???

(2) In the following circumstances the creditor's claim may include interest on the debt for periods before the company went into liquidation, although not previously reserved or agreed.

(3) If the debt is due by virtue of a written instrument, and payable at a certain time, interest may be claimed for the period from that time to the date when the company went into liquidation.

(4) If the debt is due otherwise, interest may only be claimed if, before that date, a demand for payment of the debt was made in writing by or on behalf of the creditor, and notice given that interest would be payable from the date of the demand to the date of payment.

(5) Interest under paragraph (4) may only be claimed for the period from the date of the demand to that of the company's going into liquidation.

Johno100 wrote: »

So are you suggesting OVO should be responsible for my Statutory Interest?

No, it is being questioned on what grounds, if any, Statutory Interest applies.

Sterlingtimes

The receivers for Economy Energy have uploaded pro forma invoices for gas and electricity to the old Economy Energy portal. These invoices are surprisingly absolutely correct to the penny. The correct actual readings on 12 January have been used to create the invoices.

Ovo, on the other hand, used contrived readings to favour Ovo and told me that these have been agreed with Economy Energy in administration. Ovo also told me that I could not raise a Read Dispute because the gap between the real readings and the contrived readings are "within tolerance".

I feel that the story is reaching a conclusion. I think that I will sit and wait for Ovo to make the next move.

I am now with Octopus where everything feels entirely correct.

cdsheldon

I also received contrived estimated readings when I had already submitted real readings and was told they couldn't be changed as they were within tolerance. I switched to Bulb as soon as I could and am still waiting for a refund from Ovo even though I have received my final bill from Economy Energy several weeks ago.

hudro

I received a debt collection agency bill for £1522.36  2 weeks ago saying that I had an unpaid final gas bill from Economy Energy.  This was the first I knew about at final bill as I had received no letters from Economy, only texts.  I paid monthly by Direct Debit and didn't give meter readings as I was working away for most of the time period they supplied me.  Ovo energy, who I was automatically switched to when Economy folded have been fantastic, they have given me my opening gas reading which I have supplied to the debt collectors but now economy has folded it'll be hard to find my opening gas reading to calculate the difference.  I've emailed the debt collectors asking for proof that a final bill (which must have been a wild estimate) was sent to me as I didn't receive a one bill, let alone reminders.  I suspect that the final bill was texted to me in the link that economy sent me in sept 2018, a link that I didn't click on.
Any tips on how I should manage this?