Peoples Energy Cease To Trade

mtem74

trickydicky14 said:

PE my credit balance

Hi I’m with Peoples energy so monitoring my account daily.

Normally PE request a meter reading from me around the 26th of the month and then as soon as I send it my account is updated and shows my new credit balance.

Well since PE went bust, I’ve noticed my credit balance is being reduced every other day by about £2.50

14th credit £28.48

16th credit £25.92

18th credit £23.27

This is happening without me sending new readings (as officially new reading not needed until they email me at the end of the month).

Anyone else had this happen?

Yes, that's happening to me also.  It's the daily standing charge they are continuing to take.  I have a copy of my account balance onth 15th and that should be my credit  carried forward. Well in my world it is.  Expecting some sort of fight with the new company whoever they are.

gjs1701

I am also in the process of moving house..  I hope the SoLR process is fairly quick, so at least it will be sorted before it is completed.

MoJoeGo

mtem74 said:

trickydicky14 said:

PE my credit balance

Hi I’m with Peoples energy so monitoring my account daily.

Normally PE request a meter reading from me around the 26th of the month and then as soon as I send it my account is updated and shows my new credit balance.

Well since PE went bust, I’ve noticed my credit balance is being reduced every other day by about £2.50

14th credit £28.48

16th credit £25.92

18th credit £23.27

This is happening without me sending new readings (as officially new reading not needed until they email me at the end of the month).

Anyone else had this happen?

Yes, that's happening to me also.  It's the daily standing charge they are continuing to take.  I have a copy of my account balance onth 15th and that should be my credit  carried forward. Well in my world it is.  Expecting some sort of fight with the new company whoever they are.

It's not just the daily standing charge - they are also estimating usage. If you want an accurate live balance, do what I'm doing and submit new meter reads daily (or however frequently it matters to you)

kitla

Ofgem's site says PE ceased trading 14th Sept, I was advised by PE on 17th. However my direct debit was taken on 15th. I guess it was already in the system, but it has doubled my credit balance with PE.  Ofgem have reassured us that credit balances will be honoured by the supplier they allocate. Also that we can switch without penalty once the new supplier has contacted us.
I have been busy getting quotes & am ready to switch as soon as I'm contacted, I dont want to hang about incase the tariff I found is pulled. But I'm wondering who will then honour my credit balance? Will this be processed by the allocated company (probably British gas from what I've seen)?  or will it be passed to the supplier I switch to?

adam06_2

trickydicky14 said:

PE my credit balance

Hi I’m with Peoples energy so monitoring my account daily.

Normally PE request a meter reading from me around the 26th of the month and then as soon as I send it my account is updated and shows my new credit balance.

Well since PE went bust, I’ve noticed my credit balance is being reduced every other day by about £2.50

14th credit £28.48

16th credit £25.92

18th credit £23.27

This is happening without me sending new readings (as officially new reading not needed until they email me at the end of the month).

Anyone else had this happen?

It says "live balance" they are estimating your cost and taking it away. If you submit readings it will change. I submitted readings today and the balance went up by ~£20

gt94sss2

kitla said:

Ofgem's site says PE ceased trading 14th Sept, I was advised by PE on 17th. However my direct debit was taken on 15th. I guess it was already in the system, but it has doubled my credit balance with PE.  Ofgem have reassured us that credit balances will be honoured by the supplier they allocate. Also that we can switch without penalty once the new supplier has contacted us.
I have been busy getting quotes & am ready to switch as soon as I'm contacted, I dont want to hang about incase the tariff I found is pulled. But I'm wondering who will then honour my credit balance? Will this be processed by the allocated company (probably British gas from what I've seen)?  or will it be passed to the supplier I switch to?

The SoLR provider that Ofgem appoint will be responsible for all refunding credit balances - though the process may take several months.

adam06_2

I was with Yorkshire energy that ceased trading in December last year, I didn't get moved to the new supplier (Scottish power) till the Feb and I don't think I got my outstanding credit till april... So took about 5 months... And in that time you are stuck on a really bad tariff unless you switch to one of Scottish powers fixed tariffs, but then you pay a penalty if you want to switch again. This time I have decided that with the October price rise I'm not going to sit about and wait.. so I have gone against advise and requested a switch to Sainsbury's, which will apparently be completed by the 6th October.
I would probably wait it out if I had more credit.

mtem74

gt94sss2 said:

kitla said:

Ofgem's site says PE ceased trading 14th Sept, I was advised by PE on 17th. However my direct debit was taken on 15th. I guess it was already in the system, but it has doubled my credit balance with PE.  Ofgem have reassured us that credit balances will be honoured by the supplier they allocate. Also that we can switch without penalty once the new supplier has contacted us.
I have been busy getting quotes & am ready to switch as soon as I'm contacted, I dont want to hang about incase the tariff I found is pulled. But I'm wondering who will then honour my credit balance? Will this be processed by the allocated company (probably British gas from what I've seen)?  or will it be passed to the supplier I switch to?

The SoLR provider that Ofgem appoint will be responsible for all refunding credit balances - though the process may take several months.

If you switch straight away,  or as soon as possible,  will the SoLR have to issue any repayment of credit?  
Also who calculated the credit?  Mine gone up since the 15th, PE took my DD. So if they use the 15th I'm going to be out off pocket

kitla

adam06_2 said:

I was with Yorkshire energy that ceased trading in December last year, I didn't get moved to the new supplier (Scottish power) till the Feb and I don't think I got my outstanding credit till april... So took about 5 months... And in that time you are stuck on a really bad tariff unless you switch to one of Scottish powers fixed tariffs, but then you pay a penalty if you want to switch again. This time I have decided that with the October price rise I'm not going to sit about and wait.. so I have gone against advise and requested a switch to Sainsbury's, which will apparently be completed by the 6th October.
I would probably wait it out if I had more credit.

Wow 5 months, thats a long time. My credit balance was supposed to see us through the winter, looks like we'll be drawing on savings this year. I presume the customers that switch away will get their credit dealt with last.

MoJoeGo

OFGEM have just tweeted that BG will be taking over as of tomorrow (21st).