PfP Energy ceases trading - here's everything you need to know

Verdigris

I had a narrow escape, with YE, having already switched to PFP I only had to wait for SP to get round to returning my balance.

Perhaps I will look for the cheapest no exit fee deal to tide me over until I move.

One thing I've just thought of. Can the PFP administrators/SOLR impose an early exit fee as it is more than 49 days to the end of my contract?

Einst

Here is the info from OFGEM regarding "will my bill go up"   Read this, it is important .

Your new supplier will put you on a special ‘deemed’ contract. This means a contract you haven’t chosen.

Deemed contracts can be more expensive so your bills could go up. But Ofgem will try to get the best possible deal for you if you’re in this situation.

Deemed contracts can cost more because the supplier takes on more risk. For example, they might have to buy extra wholesale energy at short notice for new customers. So they charge more to make up for it.

SWITCH ASAP.

Verdigris

Off to Green.

QrizB

Cherry2blost said:

This whole Energy market is a scam, this will be the 3rd Supplier in 5 years we have had go bust, each time the 'new' supplier canes you really hard with the prices. I only just finished up with Scottish power having had to resort to OfGem for remediation as my energy costs literally DOUBLED with a move from YE to SP all without Scottish Power letting us know in a reasonable manner about the situation.

Cheap suppliers gamble that they will be able to buy energy cheaply. sometimes they win, sometimes they lose. If they lose often enough they go broke. This is the risk you take when you joing a cheap supplier. (In my case I joined GNE on 1st Jan and they went broke on the 31st.)

The SoLR has to take on these customers at short notice. They don't have to offer anything better than their standard variable tariff. I lucked out with EDF but looks as though BG isn't being so generous.

deanos

looks like sse is cheapest for me, £150 quidco and free nest hub and fixed for 2yr

is it safe to switch now ?

Verdigris

I've started my switch to Green Energy. Also posted a meter reading to PFP and photographed the meter. We'll see what happens.

danielson81

Say I switch now, what happens to the £100 credit I have with PFP? Will BG eventually pay it back?

[Deleted User]

Verdigris said:

I've started my switch to Green Energy. Also posted a meter reading to PFP and photographed the meter. We'll see what happens.

You may find that your attempts to move to Green Energy will be blocked if the SoLR has already started the switching process. 

mrkds

I just got the email aswell from British Gas as well, after only being with PFP a month. So BG have been supplying my energy since the 7th but only inform me today?  And cant yet tell me what my new tariff is, only that it is 'competative'? How is  this allowed? Surely a customer should know upfront what they are paying for a service? So do I have to stay in limbo, not knowing how much my current energy supply is costing me? 

QrizB

mrkds said:

So do I have to stay in limbo, not knowing how much my current energy supply is costing me? 

Yes, unless you're feeling lucky and want to chance a switch.