Green Network Energy is ceasing to trade

KTF

I have just moved to GNE and they have taken the first advance DD and the opening meter reading is showing on the account.
If I cancel the DD and the final reading to the takeover supplier results in a higher bill than the DD payment, is the difference charged at the GNE rate or the takeover supplier rate?

In other words, should I let the DD go through to preload the account and minimise the amount charged on the deemed tariff from the takeover supplier?

rooster47

If the DDM went from your account yesterday my bank says you should be able to reclaim the payment via an 'indemnity claim', mine went through 26 January . No joy for me. I'm not cancelling my GNE DDM atm but will watch and stop any further payments that might, though unlikely, be requested.

If, like me there are opening readings on your account, you've transferred to GNE. Their rates will apply until transferred to a n other energy supplier

Shedman

rooster47 said:

What a f*****g mess! First I have an account with YE, then SP and for the past week GNE. In addition I have an ongoing dispute on opening/closing meter reads from October when transferring from GNE to YE

And there's no high risers to jump from nearby!!!

Yep those ex YE of us that thought we were being smart and savvy by getting away quickly from SP to GNE and Simplicity certainly don't look too clever now do we...😥.  

phillw

bagand96 said:
Those switches seemed to go through OK initially, however some found that SP later tried to gain their supplies.  So you can end up with a double switch problem that can be a hassle to resolve.

Being strung along and then charged £40 for the privilege is also a hassle.

phillw

luckwudaveit said:
My cooling off period finishes tomorrow (28th). Surely I should be able to cancel by speaking to my existing supplier? It seems unfair that I can't contact GNE to pull out.

If you are within cooling off period then talk to your previous supplier as soon as possible, you do not want to go through SOLR.

phillw

rooster47 said:

If the DDM went from your account yesterday my bank says you should be able to reclaim the payment via an 'indemnity claim', mine went through 26 January . No joy for me.

It depends on the bank and maybe even who you speak to, I've had DD indemnity claims where I've had to go through chapter and verse for the details of the claim. I did one recently where I asked if it was possible to get one back from about a week prior for an energy company that had gone bust and they did it without asking me anything. I was half expecting them to say it was outside the terms of the scheme.

Cardew

greyteam1959 said:

The way things are going we will be left with the big six.

When gas/electricity was first privatised, scores of companies jumped on the bandwaggon. Many predictably went bust or found it wasn't a 'pot of gold' and their portfolio of customers was passed(sold??) to a big 6 company.

Lately, no doubt in the interests of competition!, it appears anyone can get a licence with little more than PC using their back room as an office - an exageration I know but you get the drift. I would be interested just what financial arrangements are in place before a licence is granted - and what checks are made. Also importantly, do these people emerge from the failure of their enterprise with a financial gain?

UnclaimedEnergy

People just see the Billions of potential revenue when setting up suppliers.

The majority of the tariffs customers join on are below cost and every single customer who isn't on the cap makes them a loss. Octopus and Bulb still make massive losses but have investors willing to give them the cash to keep going. The only supplier who has managed to break a profit while being really successful in the domestic market is OVO...

ikr2

Really surprised at GNE going bust as I think they have an established parent company in Italy (wonder if it is probs due to awful Brexit deal?). It was my second stint as a GNE customer and generally customer service was OK. I guess I just wait and see for a bit (and take a reading).

leitmotif

What happens with Warm Home Discount applications?