Neon Reef - any views?

spot1034

Petriix said:

I went live with them today. Even if they go bust tomorrow, it's still better than paying Eon for that one day. Who knows, the SOLR might honour the price this time.

You might have three or four days before the date the SOLR takes over supply.

MABLE

At the moment it is all speculation. 

worrywart_3

If these companies
are in the process of talks and likely to go
Ofgem should stop switches you would think 🤣

MWT

Petriix said:

I went live with them today. Even if they go bust tomorrow, it's still better than paying Eon for that one day. Who knows, the SOLR might honour the price this time.

I’m sorry, but the chance of a SoLR honouring the price for even one day beyond the date they are appointed is zero.

CRISPIANNE3

tg99 said:

I’m live with them Friday with first DD due that day. If they go bust before then presuming best to cancel DD? 

 You would think under the 14 day cooling off period we could cancel but in their eagerness to do a quick cash grab I just do not think that would work. Also you have to be careful about cancelling the dd because they may impose the £15.00 fee. 

Lets see what happens today. Once we know definitely then we can all explore the options open to us. 

[Deleted User]

CRISPIANNE3 said:

tg99 said:

I’m live with them Friday with first DD due that day. If they go bust before then presuming best to cancel DD? 

 You would think under the 14 day cooling off period we could cancel but in their eagerness to do a quick cash grab I just do not think that would work. Also you have to be careful about cancelling the dd because they may impose the £15.00 fee. 

Lets see what happens today. Once we know definitely then we can all explore the options open to us. 

Suppliers have to honour the 14 day cooling off period. If the supply has been transferred then it has to be transferred back to the old supplier if the contract is legally cancelled.

CRISPIANNE3

Dolor said:

CRISPIANNE3 said:

tg99 said:

I’m live with them Friday with first DD due that day. If they go bust before then presuming best to cancel DD? 

 You would think under the 14 day cooling off period we could cancel but in their eagerness to do a quick cash grab I just do not think that would work. Also you have to be careful about cancelling the dd because they may impose the £15.00 fee. 

Lets see what happens today. Once we know definitely then we can all explore the options open to us. 

Suppliers have to honour the 14 day cooling off period. If the supply has been transferred then it has to be transferred back to the old supplier if the contract is legally cancelled.

I have decided to cancel under the 14 cooling off period and sent an email as per their instruction to cancel. However not sure what to do about the dd payment taken on 11 October. 

[Deleted User]

CRISPIANNE3 said:

Dolor said:

CRISPIANNE3 said:

tg99 said:

I’m live with them Friday with first DD due that day. If they go bust before then presuming best to cancel DD? 

 You would think under the 14 day cooling off period we could cancel but in their eagerness to do a quick cash grab I just do not think that would work. Also you have to be careful about cancelling the dd because they may impose the £15.00 fee. 

Lets see what happens today. Once we know definitely then we can all explore the options open to us. 

Suppliers have to honour the 14 day cooling off period. If the supply has been transferred then it has to be transferred back to the old supplier if the contract is legally cancelled.

Thanks for that. As the dd was made within the 14 days cooling off period would it be in order then get the bank to refund the amount. It was taken on Monday 11 Oct. 

No harm in trying. If you do intend to exercise your cooling off rights then do it in writing and ask for a response. The supplier has to action the cancellation even if it is received after the end of the cooling off period PROVIDED you can prove that the cancellation was enacted during the cooling off period. For example, if on the 14th day you wrote to the supplier but your letter didn't arrive until 3 days later, then the cancellation is still valid.

Inigo_Montoya

[Deleted User] said:

CRISPIANNE3 said:

tg99 said:

I’m live with them Friday with first DD due that day. If they go bust before then presuming best to cancel DD? 

 You would think under the 14 day cooling off period we could cancel but in their eagerness to do a quick cash grab I just do not think that would work. Also you have to be careful about cancelling the dd because they may impose the £15.00 fee. 

Lets see what happens today. Once we know definitely then we can all explore the options open to us. 

Suppliers have to honour the 14 day cooling off period. If the supply has been transferred then it has to be transferred back to the old supplier if the contract is legally cancelled.

Would what the rules say work in practise in this situation though ? 

If Neon Reef were to go bust today or in the next few days how likely is it that a request to cancel a "1 week rushed" transfer still in the cooling off period would actually be processed in a timely fashion ?

Especially when the transfer was away from another supplier that has already gone bust (Symbio)

In my opinion if Neon Reef were to go bust today/shortly it is far more likely that such a request will simply not be acted on, at least  within a reasonable time frame - you might be able to get the SoLR to sort it out later but that could take months & a lot of time & effort

[Deleted User]

[Deleted User] said:

Suppliers have to honour the 14 day cooling off period. If the supply has been transferred then it has to be transferred back to the old supplier if the contract is legally cancelled.

What if the old supplier has also gone bust, like Avro or Green…?