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

Exile28

Don't get me wrong the credit being applied would be nice but at the moment I just want to be able to give meter readings and have a bill so I know what I need to pay.

devondiver

bagand96 said:

The money isn't anywhere. 

Well, it hasn't dematerialised has it? It's lining someone's pocket. Putin's perhaps? 

But seriously - if the money has to initially come from BG's coffers, going back to my original question, - what incentive is there to reimburse the rightful owners in a timely fashion? Rather than dragging things out as long as possible?

n15h

bagand96 said:

drsquirrel said:

At what point do we expect to see our PFP credits with BG ?

It won't happen until PFP have generated Final Bills and then passed credit balance information to British Gas who then have to process it and credit it to accounts.  Optimistically it could start happening in December, realistically it will be in the New Year.

 I spoke to a BG agent recently about my PFP credit. He informed it takes around 70 days from the day the switch to BG takes place to any credit funds being issued to the customer. The funds will be sent by cheque rather than added to the BG account.

So given PFP accounts were moved at the end of Sept / early October, it is possible that customers will start being sent their credit funds in December. As @bagand96 has said, it is realistic it will be in the new year.

I agree with this since the only thing BG are on time about is sending a bill (even if it has the wrong information - but that's for another day).

Alpha_5

Exile28 said:

Don't get me wrong the credit being applied would be nice but at the moment I just want to be able to give meter readings and have a bill so I know what I need to pay.

Meter reads are a bit over the place for me. I submitted reads a couple of weeks ago on the date requested in the app and received email confirmation that they had been submitted. However last week I received an email saying I needed to submit reads within the next 14 days, and yesterday another email saying to submit within the next 7 days or else my bill would be wrong. Yet the app still says my meter reads are up to date. So it looks like accounts aren't fully set up yet. 

bagand96

devondiver said:

bagand96 said:

The money isn't anywhere. 

Well, it hasn't dematerialised has it? It's lining someone's pocket. Putin's perhaps? 

But seriously - if the money has to initially come from BG's coffers, going back to my original question, - what incentive is there to reimburse the rightful owners in a timely fashion? Rather than dragging things out as long as possible?

The money is in PFP so has likely disappeared into their losses, given that the company is insolvent. Consumer funds are not ringfenced in the energy sector.

British Gas cannot pay any credit balances until PFP have issued final bills and then passed on the details of final account balances.  BG have no control over how fast or PFP complete this, in administration the company will be run on minimal staff and settling customer accounts is just one of many tasks that the administrators will be overseeing.

devondiver

Verdigris said:

PfP "accidentally" showed some final accounts a week or so ago. They quickly disappeared.

Accidentally? FWIW, my PFP account was showing a 'final' November bill on 8th November the figures within which agreed exactly with my own figures. Their 'Account Balance' figure also agreed with mine. Unfortunately I omitted to download this November bill and when next I checked, as Verdigris observes, all bills and messages had vanished from the website portal, along with my 'account balance' figure. All I have is screenshots which show that I wasn't dreaming!

The only thing still showing on 'my' PFP page is the meter readings, which are accurate and run up to 1st October, as did my 'final bill' which was based on these figures.

Odd then that PFP should, on 9th November, send me the 'Meter Read Request' email - which I ignored. Especially as it goes on to say "If you have already submitted these to British Gas then please still supply the readings to us as both parties need up to date records to ensure an accurate final bill, including any credit balances." Both companies already have, and for some time now have correctly displayed, my 1st October figures as previously supplied.

The email also suggests that customers can enter readings taken "on or around Friday 10th September" - and yet, AFAIAA, there is no facility for entering a date other than 'Todays' on the 'meter readings' web portal. Also there is only one box to fill, so (as in my case) E7 'night' and 'day' readings cannot be entered.

McCreary

The PFP page on the British Gas website says:

"There was an issue with the data transfer and some customers only received a contract pack for one fuel. You should now have received your other contract pack. We can't merge your accounts, so you'll have two separate accounts and two Direct Debits."

It seems that I have been affected by this.

I tried setting up a second account for my Gas which worked with a separate email account. I was then able to track the switch of my Gas which had not transferred. However, the switch seems to have completed and I can no longer access my Gas account at all. When I try to reregister for a second account it says my gas is already registered to the email that my electricity is registered to but it doesn't show on there. Has anyone managed to navigate this? It seems like a complete mess.

fly-catchers

No sign of my balance with PFP on their site now. Though I did a screenshot before it disappeared. No final bill yet either. They show the same readings I gave to BG on the 4th October. But an earlier 20th September reading for gas. No bill from BG yet and no sign of any credit from PFP. Not paid any DD since September. Still at least that money is earning interest for me until I pay it. Though somebody is earning the interest on the £340 credit I had/have with PFP.

bagand96

fly-catchers said:

Though somebody is earning the interest on the £340 credit I had/have with PFP.

Again, nobody is earning interest on your credit balance.  In the energy sector consumer funds are not ringfenced, money you paid to PFP just went into their accounts, and given that they are insolvent, there isn't any money!

devondiver

bagand96 said:

fly-catchers said:

Though somebody is earning the interest on the £340 credit I had/have with PFP.

Again, nobody is earning interest on your credit balance.  In the energy sector consumer funds are not ringfenced, money you paid to PFP just went into their accounts, and given that they are insolvent, there isn't any money!

At some point someone (BG, presumably) is going to have to pay out the credit balances. Up to the point this money is paid out it is in existence (albeit in the digital ether of accounting) and it is being utilised - by BG if it is they who are about to fork it out. Every day they contrive to delay payment they still have the use of this money. How can this not be referred to as interest?

So - my question is still: what rules etc. are in place to encourage BG (or whoever) to perform this function in a timely fashion?