Yorkshire energy ?

Notepad_Phil

Phones4Chris said:

Verdigris said:

If you left YE before SP took you over, the refund will come direct from the YE administrators.

I did. Why did SP say they would send me a cheque?

Who are the administrators? I haven't had any contact from them, either. I think a month is more than enough for them to at least acknowledge your existence as a creditor.

I did cancel my DD as I had a feeling SP would be SoLR and didn't want them getting my bank details, given their legendary incompetence.

I'd guess the SP call taker perhaps was meaning that the YE administrators would send the cheque (or didn't know better!).
Have you logged into your YE account recently to see what's showing there?

I don't know the official word on this but their YE page https://www.scottishpower.co.uk/solr/yorkshire-energy does say For those customers who left Yorkshire Energy prior to the 6th December, we’ll also honour any outstanding credit balance that is due and issue this to you by cheque.

PennineAcute

Question!
I am moving to Zog and Evolve.  Now with around 5 days to go, Zog and Evolve will want a meter reading from me.
It seems that as my smart meters SMETS1 were originally installed by Scottish Power, SP has reactivated connection. 
If I give a meter reading to Zog and Evolve, if this is different from the readings that SP take from my meters, will the SP readings override the readings I give to Zog and Evolve.  I realise that these can change anyway after going through verification.

Chino

Verdigris said:

Who are the administrators?

See here: https://ye.co.uk/

Phones4Chris

Notepad_Phil said:

Phones4Chris said:

Verdigris said:

If you left YE before SP took you over, the refund will come direct from the YE administrators.

I did. Why did SP say they would send me a cheque?

Who are the administrators? I haven't had any contact from them, either. I think a month is more than enough for them to at least acknowledge your existence as a creditor.

I did cancel my DD as I had a feeling SP would be SoLR and didn't want them getting my bank details, given their legendary incompetence.

I'd guess the SP call taker perhaps was meaning that the YE administrators would send the cheque (or didn't know better!).
Have you logged into your YE account recently to see what's showing there?

I don't know the official word on this but their YE page https://www.scottishpower.co.uk/solr/yorkshire-energy does say For those customers who left Yorkshire Energy prior to the 6th December, we’ll also honour any outstanding credit balance that is due and issue this to you by cheque.

Well who knows, you hear one story in one place and another in another place. The thing is people need not worry, they will get back any credit that is owed BUT via whichever route it comes, it is dependent on the administrators doing the other work first. I doubt any amount of hassle will speed it up

Edit: My original comments were made in good faith based on the statements on the YE homepage which are certainly unclear. Thanks to Notepad_Phil for highlighting that part of the SP Welcome page. But of course it won't help many that did leave before 6th December as many would be unlikely to come to SP's pages as they would have no connection with them. The situation is not helped by the following poster saying the statement was incorrect as even OFGEM says
Quote -"I’m in credit to my old supplier. Will I get this money back?
Your new supplier will pay back the outstanding credit you may have..."
That's unlikely to be the case for those whose new supplier  took over before the SoLR was appointed. Having thrashed through the arguments in subsequent posts, it seems the SoLR is probably responsible (for all domestic customers). But the lack of clarity remains, but that's no excuse for the sort of scary post that follows this, particularly as OFGEM does state that any refund will be guaranteed.

masonic

Edit: The following post is discussion of an incorrect statement made by another poster - it is hypothetical and should not be taken to mean that any non-business customer is in fact reliant on getting their credit balance back from YE

Anyone who is reliant on getting their credit balance back from the YE administrators is in a very perilous position indeed. People owed credit balances will not be treated as priority creditors, and so will be at the back of the queue when it comes to dividing up what little money can be raised through liquidation of the company. I would be surprised if unsecured creditors of YE receive a penny of the money owed to them. Secured creditors will likely take a substantial haircut.

So if Ofgem is to be believed that credit balances are always protected, then the only explanation is SP has become responsible for any credit balances owed by YE.

masonic

Madmel said:

I just rang SP and spoke to a helpful lady.  The reason I have not heard anything further is because I did not give them my DD information.  She gave me my account number and tariff information. Apparently to kickstart the process, they need your account name, sort code & account number.  I have done this and have registered my SP account online.  It says the switch is in process.  Hopefully progress is now being made.  There are hardly any decent E7 tariffs out there and as our night usage is pretty high, I have compared with flat rates too, but there is little going.  SP actually looks competitive...

If your night usage is high (>60% for me) then the SP tariff is the best available at the moment. The tariff will end after 6 months, but it is not a bad position to be in.

I don't think what you have been told about the DD is correct, as others have seen their transfer proceed without giving details, and some people have been contacted to confirm they want to proceed using the bank details supplied to SP by YE. It is not mandatory to pay by DD on this tariff, though the rate for paying by cash/debit card is higher.

Verdigris

I doubt any amount of hassle will speed it up

Maybe not. But at a minimum they should inform people of the situation. I've had nothing from anybody until I gave SP a poke, today.

Chino

masonic said:

So if Ofgem is to be believed that credit balances are always protected

Only for household customers, not for business customers:
https://www.ofgem.gov.uk/consumers/household-gas-and-electricity-guide/extra-help-energy-services/ofgem-safety-net-if-your-energy-supplier-goes-out-business

This document suggests that a SOLR, whilst liable for the payment of household credit balances, can reclaim (not necessarily successfully) from Ofgem for some or all of the cost of doing so:
https://www.ofgem.gov.uk/system/files/docs/2020/12/sp_-_lrsp_clam_-_final.pdf

Phones4Chris

masonic said:

Anyone who is reliant on getting their credit balance back from the YE administrators is in a very perilous position indeed. People owed credit balances will not be treated as priority creditors, and so will be at the back of the queue when it comes to dividing up what little money can be raised through liquidation of the company. I would be surprised if unsecured creditors of YE receive a penny of the money owed to them. Secured creditors will likely take a substantial haircut.

So if Ofgem is to be believed that credit balances are always protected, then the only explanation is SP has become responsible for any credit balances owed by YE.

That is a VERY badly ill-informed and phrased post which could cause a number of people to panic. The YE administrators have to get all the final bills produced before any credit is paid back, by whatever the method. And YES it is guaranteed by OFGEM for personal customers as stated in Chino's post just above.

masonic

Chino said:

masonic said:

So if Ofgem is to be believed that credit balances are always protected

Only for household customers, not for business customers:
https://www.ofgem.gov.uk/consumers/household-gas-and-electricity-guide/extra-help-energy-services/ofgem-safety-net-if-your-energy-supplier-goes-out-business

Yes, I wasn't considering business customers, I don't believe any business customers have made themselves known in this thread.