PfP debit balance - what to do?

sjdm

I apologise if this has been covered elsewhere but I have done a lot of reading on this and other forums and can't seem to find an answer.

I have only recently, due to news coverage, realised that PfP had ceased trading. Emails from British Gas, the SOLR, had been going into my spam box.

I have to say upfront that this is my own fault, as I should have been keeping an eye on my account, but a few months ago I gave up trying unsuccessfully to get the PfP portal to accept my meter readings and trying to get through on the phone. I had planned to look for a new supplier in the Autumn and put it to the back of my mind. As real meter readings have not been taking place, I have now discovered that their estimates have become very inaccurate, leaving me with a debit balance at the end of Summer where I have always in the past been in credit. I have no idea why PfP did not contact me to revise my DD or just increase it themselves, as I am on a variable tariff. Anyway, not much I can do about that now.

My question is, is it worthwhile trying to clear the balance direct with PfP before I am switched to BG or leave BG to sort it out? Will money I pay to PfP now really be credited towards my account or will it just go into a black hole? I'm loath to trust them at this point. If the debit balance rolls over to BG will they charge me the kWh at their own tariff's unit rate even though when I used them I was on PfP's?

Most people are, very understandably, more concerned about their credit balances, so I would be very grateful for anyone's input.

danlightbulb

Short answer is don't worry about a debit balance.

It won't be carried over to BG, and eventually the liquidators of PFP will chase you for any outstanding balance.

Take meter reading evidence now and keep it, BG will want your readings at some point. They will estimate the meter readings at switch over.

Don't pay any more money voluntarily to PFP, wait for them to settle up your account and approach you for the payment.

In my opinion its far better to owe these firms money rather than have them owe you money, it puts the power in your hands. Although accidental, you're in the best position in my opinion.

sjdm

Thank you so much @danlightbulb for your reply, it's most appreciated and does sound a very sensible plan.

I took photos of my meters today and have them as dated Whatsapp images but will email them to myself also.

danlightbulb

sjdm said:

Thank you so much @danlightbulb for your reply, it's most appreciated and does sound a very sensible plan.

I took photos of my meters today and have them as dated Whatsapp images but will email them to myself also.

Actually just reading into it a bit more, with my current EDF transfer from bankrupt Utility Point, it says that debt balances are also transferred over. I didn't think they were. You'll have to wait and see what BG do I guess. 

sjdm

I have also read that somewhere. Presumably it's transferred as monetary value rather than "you owe us for this quantity of gas/electric usage" but we shall see. 

[Deleted User]

danlightbulb said:

Short answer is don't worry about a debit balance.

It won't be carried over to BG, and eventually the liquidators of PFP will chase you for any outstanding balance.

Take meter reading evidence now and keep it, BG will want your readings at some point. They will estimate the meter readings at switch over.

Don't pay any more money voluntarily to PFP, wait for them to settle up your account and approach you for the payment.

In my opinion its far better to owe these firms money rather than have them owe you money, it puts the power in your hands. Although accidental, you're in the best position in my opinion.

Debt management depends on whether Ofgem gets any volunteers to be a SoLR or it appoints an Administrator. I will try and find what CA has to say on the subject.

Page 6:

https://www.citizensadvice.org.uk/Global/CitizensAdvice/Energy/SoLR%20report%20FINAL_v2.pdf

sjdm

Thank you, Dolor, for posting that PDF, it's very helpful. Although British Gas have been appointed as the SoLR for PfP Energy it is not clear yet whether they will take on customer debt or if it will be handled by the Administrator. Reading that PDF the difference between those two options  for consumers is quite considerable. There is little protection for customers in debt to their supplier if the Administrator handles the debt and no consideration where there is existing inability to pay.

From my own PoV this is not an issue, just an inconvenience that could have been avoided if I had been aware of the growing discrepancy between my DD payments and usage, for which I take as much responsibility as the supplier. However, I can see this being the final straw for some people when prices are going up. I will update this post when I find out, in case it helps anyone else. Thank you so much to danlighbulb and Dolor for their help.