Utility Point to Cease Trading

chris_mse

TickersPlaysPop said:

CRISPIANNE3 said:

Inigo_Montoya said:

I have changed my mind about cancelling the UP DD after looking at their T&Cs

https://www.utilitypoint.co.uk/wp-content/uploads/2021/05/E011-140521_UP_Terms__Conditions-FINAL.pdf

If I am reading it correctly they say they will charge £15 per missed DD & switch you over to their standard variable rate

So I am going to keep paying the DD & just keep a manual record of my balance if the website login is down permanently 

Under normal conditions I can understand it by these are not. They have gone out of business. In my case I am over a £100.00 in credit. If I keep the dd going  this will just build up a bigger credit with them. They can  easily take out any outstanding amounts  from the amount they owe me. 

From Which

Should I cancel my direct debit?

Ofgem says that you can cancel your direct debit if you want to. 

If you are in credit the energy supplier should not take any direct debit payments from you.

If you are in debt and owe money to the energy supplier then any direct debit payments will be taken as normal. You will be able to set up a new direct debit with the new supplier when they contact you.

It will also help you set up your new account and explain how it will arrange your direct debit payments.

unquote.

Simple....

Within 1 phone call to your bank, instruct the bank to recall a number of direct debits.  It happens instantly.  Recall enough direct debits to reduce the credit held on the energy account.

That is what the direct debit agreement is there for.

I can't see how that is true.

why do people insist on spreading fake news?

NorthantsPete81

So imediately thiking EDF is not a good choice, i went to look for better deals

Compare the market said "sorry due to energy companies pulling their deals there are no deals"
others came back with 'deals' that are 2-300 quid more expensive.
IT seems like they've got us by the goolies, and could it be unfair practise that my neighbour got a 5 year fixed deal and I cant  as I wasn't fast enough?  Prices based on whos quickest?? What about disabled or the non-IT literate, they miss out because of this? doesnt sound fair to me... give a price and thats it.

What are you all doing? Have you found a deal thats not on the big sites?

I found Symbio this way, they had offline deals, rang them up and got the best deal on price per KWh ANYWHERE compared to easy comparison sites.

Cisco001

When did you guys got the confirmation email?

I haven't got it yet...

someone

QrizB said:

someone said:

Utility Point Just Join UP 12M Fixed Wk46

Gas

Price p/kWh 2.089p Standing Charge /day 20.642p

Electricity

Price p/kWh 12.597p Standing Charge /day 21.274p

Not your fault, obviously, but looking at those prices it's no surprise that UP went bust.

It sounds like whilst consumers had been fixing some new entries into the market had failed to hedge/secure supplies. Possibly they have been getting away with for some time but been caught stuck in the current situation. There must have been hope that prices would fall or something.

Ofgem must be asleep at the wheel or desperate to show a "competitive energy market" to have allowed this. Stories about UP initiating switches to a related but separate business sounds like something that a regulator should have been scrutinising in detail.

In the end we all pay, those who had followed the advice and switched suppliers get bill shock when Supplier of Last Resort kicks in and the market has to absorb the other costs.

Doc_N

Cisco001 said:

When did you guys got the confirmation email?

I haven't got it yet...

I’m not sure they’ve sent any out yet. We know it’s EDF, but we don’t know the tariff for certain, or whether it’s the same tariff for everyone.

Doubtless the default tariff already referred to, which does, I think, already include the 1 October price cap increase.

I’m not aware of any better deals than that, because even at the capped price it’s unprofitable unless and until market gas prices fall.

NorthantsPete81

Cisco001 said:

When did you guys got the confirmation email?

I haven't got it yet...

nope i found out from the news yesterday! Surely not that hard to send a mass email 

UP is cant even tell me how many KW ive used so i cant find a decent deal anyway

NorthantsPete81

Well the offline non quick switch deals suggest £600 gas a year is cheapest with both 
OutFox Pure Gas 4.0
daligas One Standard Easy 21

£1 more a month than UP.

Neon Reef electric is £120 cheaper a year than Symbio! And there wa sme thinking i had the best deal

Still cheaper doing them separate than any joint deals, so EDF or no EDF, theres no combo deal cheaper for me anyway

Lets see what EDF say, then make a move or stay

CRISPIANNE3

NorthantsPete81 said:

Well the offline non quick switch deals suggest £600 gas a year is cheapest with both 
OutFox Pure Gas 4.0
daligas One Standard Easy 21

£1 more a month than UP.

Neon Reef electric is £120 cheaper a year than Symbio! And there wa sme thinking i had the best deal

Still cheaper doing them separate than any joint deals, so EDF or no EDF, theres no combo deal cheaper for me anyway

Lets see what EDF say, then make a move or stay

I was temped to move to Daligas but think they are one of the utilities that have been temporarily banned to taken on new customers by Ofgem.

TickersPlaysPop

chris_mse said:

TickersPlaysPop said:

CRISPIANNE3 said:

Inigo_Montoya said:

I have changed my mind about cancelling the UP DD after looking at their T&Cs

https://www.utilitypoint.co.uk/wp-content/uploads/2021/05/E011-140521_UP_Terms__Conditions-FINAL.pdf

If I am reading it correctly they say they will charge £15 per missed DD & switch you over to their standard variable rate

So I am going to keep paying the DD & just keep a manual record of my balance if the website login is down permanently 

Under normal conditions I can understand it by these are not. They have gone out of business. In my case I am over a £100.00 in credit. If I keep the dd going  this will just build up a bigger credit with them. They can  easily take out any outstanding amounts  from the amount they owe me. 

From Which

Should I cancel my direct debit?

Ofgem says that you can cancel your direct debit if you want to. 

If you are in credit the energy supplier should not take any direct debit payments from you.

If you are in debt and owe money to the energy supplier then any direct debit payments will be taken as normal. You will be able to set up a new direct debit with the new supplier when they contact you.

It will also help you set up your new account and explain how it will arrange your direct debit payments.

unquote.

Simple....

Within 1 phone call to your bank, instruct the bank to recall a number of direct debits.  It happens instantly.  Recall enough direct debits to reduce the credit held on the energy account.

That is what the direct debit agreement is there for.

I can't see how that is true.

why do people insist on spreading fake news?

Please explain how it is fake. 

I did it yesterday.  I did it 2 yrs ago when another energy company did it to me. 

Please explain how this is fake?

There are people here with vested interests in the energy market... be careful what you believe.  Recalling direct debits works and is the only tool for people to maintain control in this messed up situation. 

Doc_N

Email now received. I imagine they’ve sent loads at the same time:

On 14 September 2021, Utility Point stopped trading so Ofgem (the industry regulator) chose EDF as your new energy supplier. EDF started supplying your energy on 18 September. Your prices will be matched to Standard (Variable) to give you a guaranteed rate through winter, as well as protection from changing wholesale energy prices. These are our cheapest prices^. We're delighted to welcome you on board.