MSE News: People's Energy and Utility Point the latest energy suppliers to cease trading

greenguppie

joshav said:

1.If when my new supplier is appointed  I immediately switch to a cheaper one who is then responsible for paying my credit refund?
2.If I do not cancel my direct debit can Utility Point continue to take money from my account?

1. Your switch will take a minimum 17 days to occur.
The SoLR will pay any credit refund due from UP. They will also pay any credit refund you may have accrued with themselves as shown on their own final bill.
2. They could. But my past experience of UP was that they don't take DD's after you enter a switch situation (assuming the DD was not to be collected within the next 2-3 days, in which case the payment was credited to the final bill). They set your DD to zero, and awaited the final bill to be generated and used your DD to later refund or take the payment your final bill showed.
It's unlikely UP will take a payment after generation of your final bill, not least because you are expecting a credit refund.
I suggest you wait and see what the appointed SoLR recommends. Sometimes they try to take over existing DDIs.

gt94sss2

joshav said:

1.If when my new supplier is appointed  I immediately switch to a cheaper one who is then responsible for paying my credit refund?
2.If I do not cancel my direct debit can Utility Point continue to take money from my account?

1. The Solar supplier appointed by Ofgem.

2. They shouldn't but you could always cancel the direct debit..

gt94sss2

Merlin_the_happy_pig said:

I'm currently in the process of moving house, Utility Point supply the house I'm moving from. Anyone know how this will affect me getting my credit back? 

You need to make sure that the SoLR supplier (once appointed) has your correct/new contact details.

greenguppie

jmfwilts said:

So what tariff will I pay between now and the new supplier being appointed? Will it be the existing tariff until today or the existing tariff until the new supplier is appointed?

You will remain on your current agreement until the SoLR takes over your supply, which will probably be on Friday or Saturday.

RHP485

Utility Point automatically moved me to their sister company Neon Reef in February without my agreement. I am trying to resolve an issue whereby I have been charged for the same period by both companies so not sure if I have a hope now Utility Point have gone out of business?
Neon Reef offered a very good tariff but they have had system issues issuing corrects bills which I am in dispute with them at the moment and you cannot contact them directly by phone! 

Dave_save

The UP login page states the portal will continue to be accessible, but it isn't. Looks like they've switched everything off and locked up.

Soulman2021

ok, wonderful - couple of questions.

1) Yesterday (yes the 14th) i had two smart meters installed to communicate with peoples energy - will these still work with a new supplier?

2) i was tied in for another year which is actually good news as i've just had an ASHP installed so realyl want a gas tariff with no standing charge now.  what is the best tariff to look for for an ASHP with very little gas used in the prop?|

3) the prices given by peoples energy of 14.2p kwh seem unbeatable - any other supplier close?

[Deleted User]

Soulman2021 said:

ok, wonderful - couple of questions.

1) Yesterday (yes the 14th) i had two smart meters installed to communicate with peoples energy - will these still work with a new supplier?

2) i was tied in for another year which is actually good news as i've just had an ASHP installed so realyl want a gas tariff with no standing charge now.  what is the best tariff to look for for an ASHP with very little gas used in the prop?|

3) the prices given by peoples energy of 14.2p kwh seem unbeatable - any other supplier close?

1. Yes.

2.  No standing charge tariffs make very little profit for suppliers so most have a minimum annual charge.

3. I suspect that the main reason why PE went bust was because the tariff on offer was costing them money in a market where prices have increased - and are still increasing. 

Colonial

Just a comment on the universal advice to "wait before switching, don't do anything now."  I was in exactly the same position earlier this year, I followed the same advice, and I found myself with a huge, exorbitant bill from EDF six months later. The small supplier I was with charged £62 monthly, but EDF chose to charge me £102 monthly. And because I followed the common advice to "wait before switching," I now have a bill for £611.76. Better advice for the people affected would be "Flee! Switch while you can! Do it today! And cancel your Direct Debit!"

spot1034

Colonial said:

Just a comment on the universal advice to "wait before switching, don't do anything now."  I was in exactly the same position earlier this year, I followed the same advice, and I found myself with a huge, exorbitant bill from EDF six months later. The small supplier I was with charged £62 monthly, but EDF chose to charge me £102 monthly. And because I followed the common advice to "wait before switching," I now have a bill for £611.76. Better advice for the people affected would be "Flee! Switch while you can! Do it today! And cancel your Direct Debit!"

The advice is not to wait for months, just until your supply is shown as having been transferred to the SOLR on the national database. That usually takes something like two to three weeks.