Green Network Energy is ceasing to trade

KTF

Why is the advice to take a reading when you have not had the final bill?
Aside from that you should be taking regular readings anyway, why take one now rather than when the takeover supplier asks for the opening reading?

[Deleted User]

UnclaimedEnergy said:

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...

It may have made a profit once but its latest results show a loss:

Quote: OVO Group has said its 2019 results are “in line” with its financial plan despite recording a loss of £106 million for the year. Unquote

UnclaimedEnergy

Not sure where you got the £106m loss from, their latest financial accounts has a £59m loss before tax: https://find-and-update.company-information.service.gov.uk/company/06890795

Even making losses the last few years though they still manage to find the cash to buy SSE, still a success story for them which, at some point, did return a profit before the market got flooded with small suppliers.

MikeCarne

So here we go again. This is the second time this has happened to me in 2 years. I understand that things happen but I resent having a supplier foisted upon me (last time it was British Gas on their standard tariff) instead of allowing me to choose and me then having to pay any debit balance (which is likely given that we are in winter) to the incoming supplier at their rates rather than the rate set by the outgoing supplier.
Someone please correct me if I'm wrong.

UnclaimedEnergy

No you are correct, it does sound like you do resent the process but it does happen.

(I'm sorry but it just doesn't seem like you're putting anything across... people need energy suppliers to supply their homes or they won't have any power. You can't just leave it for people to choose a new supplier as some people may never do)

leitmotif

What happens with Warm Home Discount applications?

UnclaimedEnergy

leitmotif said:

What happens with Warm Home Discount applications?

"If you get the Warm Home Discount, your new supplier will tell you if you can still get it. If you can’t get the Warm Home Discount with your new supplier, you can switch to a different supplier"

https://www.citizensadvice.org.uk/consumer/energy/energy-supply/problems-with-your-energy-supply/your-energy-supplier-has-gone-bust/

Dezal

Tonik 7 Dec Final bill £46.78, Scottish power 10 Oct-1 Dec £144.94,  not including Final  bill Scottish £68.51, Green 1 Feb £43.43 total £303.66. Final bill Green? New supplier?
Grateful I still have a job working from home.

leitmotif

UnclaimedEnergy said:

leitmotif said:

What happens with Warm Home Discount applications?

"If you get the Warm Home Discount, your new supplier will tell you if you can still get it. If you can’t get the Warm Home Discount with your new supplier, you can switch to a different supplier"

https://www.citizensadvice.org.uk/consumer/energy/energy-supply/problems-with-your-energy-supply/your-energy-supplier-has-gone-bust/

Do you reckon that counts for existing applications? Decisions on WHDs for winter 2020-21 were due this month. The new supplier might say they can't respect the 2020-21 application as no decisions were reached by GNE.

EDIT: It's also possible that Ofgem will switch everyone to a supplier that doesn't offer a WHD and that supplier won't respect any decisions already made by GNE.

manic37

What about referral credit for people who signed up via GNE referral credit links few weeks ago?