Green Network Energy is ceasing to trade

UnclaimedEnergy

A "Competitive tariff" sounds like it'll be below the price cap which will be good.
Also EDF are honouring the Warm Home Discount applications which is good as well.

GNE to EDF might be slow just due to the sheer number of customers they need to migrate over, but just be glad it isn't Scottish Power. 

BigBlueSky

Green Network Energy Customers: Your questions on new supplier EDF

This guide will answer some of your questions on what happens now. 
https://www.ofgem.gov.uk/publications-and-updates/green-network-energy-customers-your-questions-new-supplier-edf

Gerry1

powerful_Rogue said:

Gerry1 said:

powerful_Rogue said:

Currently £155 in credit with another £84 DD pending to go out for the 1st Feb.

I'm presuming all money received by GNE since the announcment will be transferred over to the SoLR? Seen some talk of cancelling DD's over the past few pages, however i'm far too late for that.

If the DD does go through, you could always ask the bank to reverse it, there's nothing to lose.

Will the current DD when it goes out on Monday be creditied to my GNE balance do you know?

I'd expect that in the first instance, but I'm not a banking expert.  When Robin Hood Energy ceased trading, my DD was automatically replaced with one for British Gas so I never paid RHE via DD.  As soon as the BG DD appeared I cancelled the RHE DD just to make sure.

powerful_Rogue said:

Gerry1 said:

powerful_Rogue said:

Currently £155 in credit with another £84 DD pending to go out for the 1st Feb.

I'm presuming all money received by GNE since the announcment will be transferred over to the SoLR? Seen some talk of cancelling DD's over the past few pages, however i'm far too late for that.

If the DD does go through, you could always ask the bank to reverse it, there's nothing to lose.

Any ramifications of cancelling the DD?

@libra10 The bank will tell GNE that the DD has been cancelled, so the GNE computer may automatically generate a final bill based on the standard tariff rather than the cheaper DD one.  That's what happened to me, RHE did the sums and BG charged me at the RHE Standard rate for the short time I'd been with RHE.  I complained to BG and it was sorted out promptly.

In general, I prefer to stop any DD payments going out to a ceased supplier and then having to reclaim them, but the procedures may vary with different suppliers and administrators.

Nebulous2

This could become very messy for me.

We bought a holiday house / retirement house and switched to GNE in July. Our initial readings are in dispute (error is in our favour) I sent photos in September, but they’ve never corrected it. Our DD is quite low, as it was only used at weekends. 

We have just moved in permanently,  so will dramatically increase our usage. Our former house isn’t on the market yet, but it is with Avro, and once it is sold we could transfer our Avro tariff, but that could be difficult if the EDF account isn’t up and running. 

Grumpy_chap

UnclaimedEnergy said:

A "Competitive tariff" sounds like it'll be below the price cap which will be good.

I wonder what "competitive" means?  The keenest price on EDF website is some 14% higher than cheapest quote on a comparison website and about 5% higher than mid-market on comparison sites, but marginally (pennies per year) lower than GNE SVR.

BigBlueSky

Welcoming Green Network Energy Customers
https://www.edfenergy.com/content/welcoming-green-network-energy-customers

The following is interesting:

We guarantee all customers will see a price decrease versus their current tariff until at least 30 September 2021

Shedman

Lucky b*ggers..hope BG Evolve do likewise.

But it's a sensible move by EDF to stop all the additional admin of people trying to leave quickly after switch and maybe to hold on to a high proportion later on in the year.

brewerdave

Nebulous2 said:

We have just moved in permanently,  so will dramatically increase our usage. Our former house isn’t on the market yet, but it is with Avro, and once it is sold we could transfer our Avro tariff, but that could be difficult if the EDF account isn’t up and running. 

You could certainly move to Avro once EDF account is set up BUT unlikely to be able to "transfer" your tariff - it'll be treated as a new account.

Grumpy_chap

BigBlueSky said:

Welcoming Green Network Energy Customers
https://www.edfenergy.com/content/welcoming-green-network-energy-customers

The following is interesting:

We guarantee all customers will see a price decrease versus their current tariff until at least 30 September 2021

This does make some sense, as was posted above, EDF will incur a substantial on-boarding cost for these customers:

BigBlueSky said:

Ofgem appoints EDF to take on customers of Green Network Energy

See - https://www.ofgem.gov.uk/publications-and-updates/ofgem-appoints-edf-take-customers-green-network-energy-and-british-gas-evolve-take-customers-simplicity-energy

EDF will absorb the costs of honouring customers' credit balances and the migration of customers. They will pay the outstanding £140 Warm Home Discount rebates to Green Network Energy's 12,000 eligible customers and will make an additional contribution towards the costs of wider environmental and social obligations. 

Having made that on-boarding investment, it makes every sense to secure the customers for the long-term and generate a return.

I wonder whether the "guaranteed" price decrease will be assessed against current tariff, or simply the SVR, or a blend of the two?  I'd imagine most customers with a fixed tariff would migrate to SVR before September unless they take action to secure another fix in the market.  This could be the way that EDF can interpret the guarantee...

bristolleedsfan

Grumpy_chap said:

BigBlueSky said:

Welcoming Green Network Energy Customers
https://www.edfenergy.com/content/welcoming-green-network-energy-customers

The following is interesting:

We guarantee all customers will see a price decrease versus their current tariff until at least 30 September 2021

This does make some sense, as was posted above, EDF will incur a substantial on-boarding cost for these customers:

BigBlueSky said:

Ofgem appoints EDF to take on customers of Green Network Energy

See - https://www.ofgem.gov.uk/publications-and-updates/ofgem-appoints-edf-take-customers-green-network-energy-and-british-gas-evolve-take-customers-simplicity-energy

EDF will absorb the costs of honouring customers' credit balances and the migration of customers. They will pay the outstanding £140 Warm Home Discount rebates to Green Network Energy's 12,000 eligible customers and will make an additional contribution towards the costs of wider environmental and social obligations. 

I wonder whether the "guaranteed" price decrease will be assessed against current tariff, or simply the SVR, or a blend of the two? 

It will mean what you quoted  "We guarantee all customers will see a price decrease versus their current tariff until at least 30 September 2021"  Key words being " their current tariff "