Green Network Energy is ceasing to trade

UnclaimedEnergy

When suppliers go bust the majority of them leave behind millions worth of credit balances. Without the SoLR process thousands of customers will be out of pocket by maybe hundreds of pounds due to their credit balances disappearing with the supplier.

I would say having to go with another supplier you haven't chosen for 4 weeks is a good compromise to this.

MISSLHA

Gary1963 said:

My switch due 21st. Who issues the final bill? Also watch that they don't try and charge early exit fee! 

Edf would issue your final bill on behalf of GNE and process any refunds/collect any final balances

[Deleted User]

Y

[Deleted User] said:

If the supplier was a broadband ISP and it went bust, you would be totally on your own. No broadband supply and any outstanding credit sitting in a large of pile of unsecured creditors. It would take a couple of weeks for you to get back online. The SoLR competitive process is more about reducing the overall cost of the supplier failure which every energy consumer ends up paying. Effectively you are on a Deemed Contract with the SoLR. To do anything else, would mean that you would be without energy for up to 17 to 35 days. Primarily, consumers choose a small supplier on price ignoring the fact that small suppliers and low prices increases the risk of failure when trading conditions are difficult. If you don’t like the SoLR’s tariff or conditions, you will be allowed to switch away without penalty.

Thankyou for your concern. However...

I can't quite tell if you're attempting (as others on here seem to do) to paper over the cracks of yet another broken not-fit-for-purpose system. But...

You're comparison of a broadband company failure, in my personal circumstances, would not be a good one. As my property has over the years accumulated 3 different 'connections' from competing 'broadband' suppliers. Consequently i am quite sure that i would be up and running again within 24-48 hours of a quick phone call (either way, theres always 4-5G for instant internet access).

I pay £25 per month for broadband, and whilst in advance, the maximum likely 'wasted' charge would therefore be minimal, certainly compared to several hundred pounds of built-up energy credit.

It's difficult to see how i would be without Energy supply in the interim, as unlike broadband, my energy cannot just be 'switched off' remotely. It would require an operator to visit my premises and physically lock off / disconnect my supplies...

Perhaps as someone within the industry you could tell me what my new Tariff is?

MISSLHA

[Deleted User] said:

Wobbly_Bob said:

Shop around! They said. Get the best deal! They said. Don't pay more than you should! They said...

...Then spend hours and hours reading forums in an attempt to glean sufficient information, to ensure that after the firm you select goes bust, you don't end up paying more than you should in the ensuing process....

So, i am apparently now, as of Sunday 31 Jan 2021 in a new contract...with EDF. Which is strange, because despite GNE going under almost a week ago, EDF being appointed after a 'competetive process' and me, being 'put into' a new contract, i have no idea whatsoever of the terms and conditions of this new contract.

Specifically, what are my new Tariff Rates?

just sayin...

If the supplier was a broadband ISP and it went bust, you would be totally on your own. No broadband supply and any outstanding credit sitting in a large of pile of unsecured creditors. It would take a couple of weeks for you to get back online. The SoLR competitive process is more about reducing the overall cost of the supplier failure which every energy consumer ends up paying. Effectively you are on a Deemed Contract with the SoLR. To do anything else, would mean that you would be without energy for up to 17 to 35 days. Primarily, consumers choose a small supplier on price ignoring the fact that small suppliers and low prices increases the risk of failure when trading conditions are difficult. If you don’t like the SoLR’s tariff or conditions, you will be allowed to switch away without penalty. 

This is correct you will be able to switch without any exit fees. EDF haven’t issued the prices they are charging as of yet but it will be a reduction in what you are currently paying. In effect they are simply the caretakers for you until you decide if you wish to stay with them or switch away. 

[Deleted User]

UnclaimedEnergy said:

When suppliers go bust the majority of them leave behind millions worth of credit balances. Without the SoLR process thousands of customers will be out of pocket by maybe hundreds of pounds due to their credit balances disappearing with the supplier.

I would say having to go with another supplier you haven't chosen for 4 weeks is a good compromise to this.

Indeed, it would however be nice to know what one would be paying for those 4 weeks.

george278

One further question, what does SoLR mean? I've googled it and they don't know?

MISSLHA

Wobbly_Bob said:

Y

[Deleted User] said:

If the supplier was a broadband ISP and it went bust, you would be totally on your own. No broadband supply and any outstanding credit sitting in a large of pile of unsecured creditors. It would take a couple of weeks for you to get back online. The SoLR competitive process is more about reducing the overall cost of the supplier failure which every energy consumer ends up paying. Effectively you are on a Deemed Contract with the SoLR. To do anything else, would mean that you would be without energy for up to 17 to 35 days. Primarily, consumers choose a small supplier on price ignoring the fact that small suppliers and low prices increases the risk of failure when trading conditions are difficult. If you don’t like the SoLR’s tariff or conditions, you will be allowed to switch away without penalty.

Thankyou for your concern. However...

I can't quite tell if you're attempting (as others on here seem to do) to paper over the cracks of yet another broken not-fit-for-purpose system. But...

You're comparison of a broadband company failure, in my personal circumstances, would not be a good one. As my property has over the years accumulated 3 different 'connections' from competing 'broadband' suppliers. Consequently i am quite sure that i would be up and running again within 24-48 hours of a quick phone call (either way, theres always 4-5G for instant internet access).

I pay £25 per month for broadband, and whilst in advance, the maximum likely 'wasted' charge would therefore be minimal, certainly compared to several hundred pounds of built-up energy credit.

It's difficult to see how i would be without Energy supply in the interim, as unlike broadband, my energy cannot just be 'switched off' remotely. It would require an operator to visit my premises and physically lock off / disconnect my supplies...

Perhaps as someone within the industry you could tell me what my new Tariff is?

Your new tariff prices are yet to be released, however you won’t be charged more it is guaranteed as part of the SOLR process that you will pay less until at least September 2021. 

Meters can go faulty and people can loose the supply, ofgem can’t run the risk of customers having no one to contact. You won’t be forced to remain with the solr supplier in this case it is edf. They will just manage everything u til you decide what you want to do. You will be contacted within the next week or so with all the information needed. As you can appreciate it’s not a simple process for customers or the supplier and the who process from edf side is overseen by ofgem to ensure there is minimal disruption 

Robin9

Has EDF made a rod for their own back by saying "it it will be a reduction in what you are currently paying". 
Why not, as others did, simply say we will match your existing tariff ?  Or am I missing something ?

Robin9

george278 said:

One further question, what does SoLR mean? I've googled it and they don't know?

Supplier of Last Resort

UnclaimedEnergy

Wobbly_Bob said:

UnclaimedEnergy said:

When suppliers go bust the majority of them leave behind millions worth of credit balances. Without the SoLR process thousands of customers will be out of pocket by maybe hundreds of pounds due to their credit balances disappearing with the supplier.

I would say having to go with another supplier you haven't chosen for 4 weeks is a good compromise to this.

Indeed, it would however be nice to know what one would be paying for those 4 weeks.

If they have said it'll be less than your current tariff then just assume your current tariff as a worse case scenario until you receive confirmation from EDF. Not every customer will have the same rates due to regional differences and due to being on different tariffs with GNE.

Just be patient like the other 360,000 people in your position and accept that the tariff will be less than you're on now and look forward to saving a few quid in February because of it.