Neon Reef - any views?

Mbday

I have provided an update on BG’s Zero Fixed October 22 tariff (link below) You can post any additional comments on that thread rather than here. https://forums.moneysavingexpert.com/discussion/6313358/bg-zero-fix-october-22

Patr100

I cancelled my DD when they were announced as defunct, as I'm in credit for more than a month's use, so if they really want a payment in the next few weeks they'll have to take it from that.

aliby21

spot1034 said:

aliby21 said:

elucidate said:

aliby21 said:

So I followed Ofgem advice to leave my direct debit set up with Neon Reef.  They have just taken another payment.  Which is not showing in my NR account, last payment is showing as October.  

It took a few days to appear on my NR dashboard as well. Payment was taken on the 12th, it appeared after the company collapsed.

thanks elucidate. The money was taken yesterday... I will hope it appears in my NR account.  I am concerned as this is well after NR collapsed, it couldn't be said that the DD was already in process surely.  So what are they up to? 

Do not worry about this, it seems to be common practice in these situations for the defunct supplier to take direct debits after the SOLR has been announced - they are actually still in existence and in administration and the funds will find their way to your account and ultimately be passed on to the SOLR if not needed to settle NR's final bill. However it might take longer than normal for the funds to appear - those of us with Symbio had to wait several weeks for our October direct debits to be credited to our accounts, but they got there in the end. Hopefully it will be a bit quicker in your case but do not panic if it isn't.

OK thanks, I will keep my fingers crossed, but I could have done without another chunk of money wandering off into a black hole (am on my second failed supplier, and being end of summer am in credit with both)

casjen

I decided a week before they informed me they were  bust, I transferred to a big six as fed up with the constant changing . This was on the 17 nov. I didn't know about it at that point. Thought nothing off it until i received an email from BG the following monday from BG saying they were taking my account and then an hour later from NEON.   I contacted BG to say i had had  switch in progress and they were happy to stop the transfer to them and i have this confirmed in chats and texts. The next day EDF contacted me to say that my account had been blocked by NEON. I contacted neon and they said they blocked it because they are legally obliged to transfer to BG. Thats blatantly not true. Have contacted NEON again with all chats etc and waiting for response.

kiis10295

I’ve had no emails or anything from NR or British Gas whatsoever. I only found out NR went under last night when I went to submit a meter reading.

I’ve cancelled my direct debit but bit worried if it was the right thing to do. I’ve checked my spam folder and everything and definitely had nothing.

Shedman

casjen said:

I decided a week before they informed me they were  bust, I transferred to a big six as fed up with the constant changing . This was on the 17 nov. I didn't know about it at that point. Thought nothing off it until i received an email from BG the following monday from BG saying they were taking my account and then an hour later from NEON.   I contacted BG to say i had had  switch in progress and they were happy to stop the transfer to them and i have this confirmed in chats and texts. The next day EDF contacted me to say that my account had been blocked by NEON. I contacted neon and they said they blocked it because they are legally obliged to transfer to BG. Thats blatantly not true. Have contacted NEON again with all chats etc and waiting for response.

What tariff were you switching to on EDF as you may well find that being blocked and hence being taken on by BG may actually turn out to be better financially being effectively the current Capped rate.  Especially if they hold the tariff through to end of July - it does suggest that on the tariff info but there are some other contradictory notes -  rather than rising in line with the Cap in April (which will be a significant increase unless the Govt steps in)

jrawle

QrizB said:

macman said:

I have now received the BG electricity contract. I note that it states that the tariff is 'Variable'. Not, 'Standard Variable'.
Do BG have more than one variable tariff, and if so, is this is a cunning way to put you on a higher rate than SVT?
How ironic that after about 20 years of pursuing the best deals religiously every year, I'm now back with my original legacy provider via 2 recent separate SoLR's.

BG will have agreed the tariff for ex-NR customers with Ofgem. It may not be identical to their standard variable tariff but will nevertheless comply with the price cap.

Many SoLRs have created uniquely-named tariffs for their SoLR customers.

What's less clear (and might not be known until spring 2022) is whether the SoLR tariff is fixed for 6 months, or whether it will rise in April with the cap. Ofgem's guide to the SoLR process seems to say it should be fixed but it's only a guide and we don't know exactly what BG or the other SoLRs agreed.

British Gas have numerous variable tariffs, but when I checked the other day, the pricing for all of them was identical to the "Welcome to British Gas" tariff they say I am on. In addition, the direct debit and cash prices are identical, and comply with the price cap for direct debits: a benefit for anyone who prefers to pay by cash or cheque. I don't know what the purpose of having so many identically prices tariffs is; perhaps prior to the wholesale price exceeding the cap, the tariffs would have had different prices.

brewerdave

Spent an hour on hold today trying to ring BG as instructed - not doing that again !

[Deleted User]

BG either can't, or won't, clarify the tariff, and say I'll have to wait until supply supposedly starts on 2/12 (Thurs). Hmm. 

What price transparency? 

lisyloo

Deleted_User said:

BG either can't, or won't, clarify the tariff, and say I'll have to wait until supply supposedly starts on 2/12 (Thurs). Hmm. 

What price transparency? 

Please correct me if I’m wrong, but I understand that they can’t charge you more than the price cap and no one is offering anything less.