Octopus Energy takes on Avro customers

Ultrasonic

bagand96 said:

I wonder if they do indeed get most accounts transferred and operating properly within 14 days.  Having been through SoLR at the end of last year, and going through it again now (PFP -> BG) that seems a very optimistic target, especially with Avro's 580,000 accounts.  17 days since Ofgem appointed BG for PFP customers and we're nowhere near operating properly!  That said, Octopus are "different" and always praised for their customer service, so maybe they will get the job done.

I wonder if they might be paying/taking on some Avro staff to help with the transition?

Chunks

danez said:

I've yet to receive any email....nothing in my junk either? 

anyone else in the same boat? 

Avro weren't due to start supplying until the 4th 

Yep, same here. When Avro ceased trading, my switch hadn’t completed. Let’s see how it pans out.

C

malcolm0831

oliverbrown said:

Not sure how Octopus emailed everyone without having access to "Avro energy systems", mysterious.

I would imagine as part of the changeover OfGem was sent a basic list of Avro accounts with contact details and that was passed to Octopus.

worrywart_3

xlnc99 said:

Ultrasonic said:

xlnc99 said:

Ultrasonic said:

xlnc99 said:

Ultrasonic said:

xlnc99 said:

oliverbrown said:

xlnc99 said:

Excuse me for trying to help people save money and warn them about how expensive OCT is. I mean, just doing quotes show at least a dozen cheaper tarrifs then OCT. 

Fixed or variable? Show me a variable tariff that's cheaper than Octopus and you may have a point.

Why would u go for variable at this moment in time? Prices are going on way and that is up! Variable is a no go for anyone so before you know your bill will sky rocket

The reason to go for variable right now is they are significantly cheaper, due to the cap preventing an appropriate price being charged. The fixed tariffs available for new customers will cost substantially more for the approaching winter.

Yes they are cheaper now but you can guarantee they will sky rocket in the next month or two. The cap means nothing - all that means is to stop ridiculous prices, like the very extreme. But that does not stop variable prices shooting up and it will no doubt be more then the fixed prices come or two months time. By then the fixed prices will also increase for new customers

No. When a price is essentially already at the cap it DOES prevent the price shooting up, until the cap itself is increased.

Yes but the CAP is probably so high and expensive that it wont reach there. 

No. It's where we're at NOW, bar the generosity of Octopus to offer slightly less than this fir the Avro customers being discussed.

Genorisity? You are kidding right? No-one knows what they offering as of yet. They say it wont be as high as their own tarrifs well thats because they fully well know no-one is going to stick with them if it was! Even no - with the decrease and discount for ex avro customers it will still be very high

You do realise don’t you that the so called ridiculous prices are under wholesale and the supposedly good prices your talking about is from a company that won’t last as it is unsustainabl. Go with neon but don’t be suprised if they fold before your switch is even complete or not long after. 

[Deleted User]

malcolm0831 said:

oliverbrown said:

Not sure how Octopus emailed everyone without having access to "Avro energy systems", mysterious.

I would imagine as part of the changeover OfGem was sent a basic list of Avro accounts with contact details and that was passed to Octopus.

An energy supplier cannot go into administration without Ofgem’s approval. I guess that part of that approval process is preparing a detailed customer information file. The failed supplier goes into receivership once the SoLR is announced.

1.6. There are restrictions on the rights of suppliers and their creditors to enter into insolvency processes. Those processes are detailed in the Energy Act 2004 (as it applies by virtue of the Energy Act 2011) and include restrictions on:

1.6.1. winding up orders;

1.6.2. voluntary winding up;

1.6.3. ordinary administration orders;

1.6.4. administrator appointments by creditors; and 1.6.5. enforcement of security.

1.7. In order to enter into one of these processes, the supplier or creditor must first serve notice on both the Secretary of State and Ofgem. A minimum of 14 days’ notice is required.

LippyDoodle

oliverbrown said:

Not sure how Octopus emailed everyone without having access to "Avro energy systems", mysterious.

I think that Ofgem would have made sure that Octopus had got all the information they needed to procced.

Bendo

xlnc99 said:

Ultrasonic said:

xlnc99 said:

Ultrasonic said:

xlnc99 said:

oliverbrown said:

xlnc99 said:

Excuse me for trying to help people save money and warn them about how expensive OCT is. I mean, just doing quotes show at least a dozen cheaper tarrifs then OCT. 

Fixed or variable? Show me a variable tariff that's cheaper than Octopus and you may have a point.

Why would u go for variable at this moment in time? Prices are going on way and that is up! Variable is a no go for anyone so before you know your bill will sky rocket

The reason to go for variable right now is they are significantly cheaper, due to the cap preventing an appropriate price being charged. The fixed tariffs available for new customers will cost substantially more for the approaching winter.

Yes they are cheaper now but you can guarantee they will sky rocket in the next month or two. The cap means nothing - all that means is to stop ridiculous prices, like the very extreme. But that does not stop variable prices shooting up and it will no doubt be more then the fixed prices come or two months time. By then the fixed prices will also increase for new customers

No. When a price is essentially already at the cap it DOES prevent the price shooting up, until the cap itself is increased.

Yes but the CAP is probably so high and expensive that it wont reach there. My point is the CAP is just for extortionate measures rather then anything else. People getting to wrapped up in this cap issue. Even with the cap in place companies are charging ridiculous amounts

You do realise that the cap is currently below the wholesale cost so energy companies are being forced to sell at a loss, hence why all many are currently going bust?

Variable tariff customers usually pay more because energy companies can't forecast how much energy to hedge for them. At the moment, they are getting a good deal due to the low cap

Octopus could have opted to put everyone on a fixed no exit fee tariff and charged a higher rate but haven't. You should be grateful for that, although I can only see prices going up in the mid term anyway.

[Deleted User]

Bendo said:

xlnc99 said:

Ultrasonic said:

xlnc99 said:

Ultrasonic said:

xlnc99 said:

oliverbrown said:

xlnc99 said:

Excuse me for trying to help people save money and warn them about how expensive OCT is. I mean, just doing quotes show at least a dozen cheaper tarrifs then OCT. 

Fixed or variable? Show me a variable tariff that's cheaper than Octopus and you may have a point.

Why would u go for variable at this moment in time? Prices are going on way and that is up! Variable is a no go for anyone so before you know your bill will sky rocket

The reason to go for variable right now is they are significantly cheaper, due to the cap preventing an appropriate price being charged. The fixed tariffs available for new customers will cost substantially more for the approaching winter.

Yes they are cheaper now but you can guarantee they will sky rocket in the next month or two. The cap means nothing - all that means is to stop ridiculous prices, like the very extreme. But that does not stop variable prices shooting up and it will no doubt be more then the fixed prices come or two months time. By then the fixed prices will also increase for new customers

No. When a price is essentially already at the cap it DOES prevent the price shooting up, until the cap itself is increased.

Yes but the CAP is probably so high and expensive that it wont reach there. My point is the CAP is just for extortionate measures rather then anything else. People getting to wrapped up in this cap issue. Even with the cap in place companies are charging ridiculous amounts

You do realise that the cap is currently below the wholesale cost so energy companies are being forced to sell at a loss, hence why all many are currently going bust?

Variable tariff customers usually pay more because energy companies can't forecast how much energy to hedge for them. At the moment, they are getting a good deal due to the low cap

Octopus could have opted to put everyone on a fixed no exit fee tariff and charged a higher rate but haven't. You should be grateful for that, although I can only see prices going up in the mid term anyway.

Ofgem has to agree the deemed tariff as part of the SoLR approval process. From the SoLR guidance:

Deemed contracts and customer balances

2.20. We will seek information on a SoLR’s proposed deemed contract rate.12 A SoLR’s deemed contract prices can reflect no more than the reasonable costs of supply (including costs attributable to the purchase of gas or electricity at short notice), together with a reasonable profit.

2.21. Once appointed, a SoLR will be able to charge the failed supplier’s customers on the basis of its deemed contract rate. This will cover the period from appointment until customers have agreed a replacement contract rate with the SoLR or another supplier of their choice, or the six month period of SoLR appointment expires, whichever is earlier. We will consider the SoLR deemed contract prices in terms of what is best overall for the customer groups involved.

2.22. We consider that it is important that the failed supplier’s customers can switch to an alternative supplier if they wish to. A SoLR must not charge a termination fee if a customer takes supply from another supplier.

2.23. We will also seek information on the proposed steps to be taken in relation to customers who hold credit balances with the failed supplier.

Bendo

[Deleted User] said:

Bendo said:

xlnc99 said:

Ultrasonic said:

xlnc99 said:

Ultrasonic said:

xlnc99 said:

oliverbrown said:

xlnc99 said:

Excuse me for trying to help people save money and warn them about how expensive OCT is. I mean, just doing quotes show at least a dozen cheaper tarrifs then OCT. 

Fixed or variable? Show me a variable tariff that's cheaper than Octopus and you may have a point.

Why would u go for variable at this moment in time? Prices are going on way and that is up! Variable is a no go for anyone so before you know your bill will sky rocket

The reason to go for variable right now is they are significantly cheaper, due to the cap preventing an appropriate price being charged. The fixed tariffs available for new customers will cost substantially more for the approaching winter.

Yes they are cheaper now but you can guarantee they will sky rocket in the next month or two. The cap means nothing - all that means is to stop ridiculous prices, like the very extreme. But that does not stop variable prices shooting up and it will no doubt be more then the fixed prices come or two months time. By then the fixed prices will also increase for new customers

No. When a price is essentially already at the cap it DOES prevent the price shooting up, until the cap itself is increased.

Yes but the CAP is probably so high and expensive that it wont reach there. My point is the CAP is just for extortionate measures rather then anything else. People getting to wrapped up in this cap issue. Even with the cap in place companies are charging ridiculous amounts

You do realise that the cap is currently below the wholesale cost so energy companies are being forced to sell at a loss, hence why all many are currently going bust?

Variable tariff customers usually pay more because energy companies can't forecast how much energy to hedge for them. At the moment, they are getting a good deal due to the low cap

Octopus could have opted to put everyone on a fixed no exit fee tariff and charged a higher rate but haven't. You should be grateful for that, although I can only see prices going up in the mid term anyway.

Ofgem has to agree the deemed tariff as part of the SoLR approval process. From the SoLR guidance:

Deemed contracts and customer balances

2.20. We will seek information on a SoLR’s proposed deemed contract rate.12 A SoLR’s deemed contract prices can reflect no more than the reasonable costs of supply (including costs attributable to the purchase of gas or electricity at short notice), together with a reasonable profit.

2.21. Once appointed, a SoLR will be able to charge the failed supplier’s customers on the basis of its deemed contract rate. This will cover the period from appointment until customers have agreed a replacement contract rate with the SoLR or another supplier of their choice, or the six month period of SoLR appointment expires, whichever is earlier. We will consider the SoLR deemed contract prices in terms of what is best overall for the customer groups involved.

2.22. We consider that it is important that the failed supplier’s customers can switch to an alternative supplier if they wish to. A SoLR must not charge a termination fee if a customer takes supply from another supplier.

2.23. We will also seek information on the proposed steps to be taken in relation to customers who hold credit balances with the failed supplier.

Which as I said, could have been a more expensive rate than they are going with and could have been higher than the cap provided it was done as a tariff with no exit fee.

[Deleted User]

Bendo said:

[Deleted User] said:

Bendo said:

xlnc99 said:

Ultrasonic said:

xlnc99 said:

Ultrasonic said:

xlnc99 said:

oliverbrown said:

xlnc99 said:

Excuse me for trying to help people save money and warn them about how expensive OCT is. I mean, just doing quotes show at least a dozen cheaper tarrifs then OCT. 

Fixed or variable? Show me a variable tariff that's cheaper than Octopus and you may have a point.

Why would u go for variable at this moment in time? Prices are going on way and that is up! Variable is a no go for anyone so before you know your bill will sky rocket

The reason to go for variable right now is they are significantly cheaper, due to the cap preventing an appropriate price being charged. The fixed tariffs available for new customers will cost substantially more for the approaching winter.

Yes they are cheaper now but you can guarantee they will sky rocket in the next month or two. The cap means nothing - all that means is to stop ridiculous prices, like the very extreme. But that does not stop variable prices shooting up and it will no doubt be more then the fixed prices come or two months time. By then the fixed prices will also increase for new customers

No. When a price is essentially already at the cap it DOES prevent the price shooting up, until the cap itself is increased.

Yes but the CAP is probably so high and expensive that it wont reach there. My point is the CAP is just for extortionate measures rather then anything else. People getting to wrapped up in this cap issue. Even with the cap in place companies are charging ridiculous amounts

You do realise that the cap is currently below the wholesale cost so energy companies are being forced to sell at a loss, hence why all many are currently going bust?

Variable tariff customers usually pay more because energy companies can't forecast how much energy to hedge for them. At the moment, they are getting a good deal due to the low cap

Octopus could have opted to put everyone on a fixed no exit fee tariff and charged a higher rate but haven't. You should be grateful for that, although I can only see prices going up in the mid term anyway.

Ofgem has to agree the deemed tariff as part of the SoLR approval process. From the SoLR guidance:

Deemed contracts and customer balances

2.20. We will seek information on a SoLR’s proposed deemed contract rate.12 A SoLR’s deemed contract prices can reflect no more than the reasonable costs of supply (including costs attributable to the purchase of gas or electricity at short notice), together with a reasonable profit.

2.21. Once appointed, a SoLR will be able to charge the failed supplier’s customers on the basis of its deemed contract rate. This will cover the period from appointment until customers have agreed a replacement contract rate with the SoLR or another supplier of their choice, or the six month period of SoLR appointment expires, whichever is earlier. We will consider the SoLR deemed contract prices in terms of what is best overall for the customer groups involved.

2.22. We consider that it is important that the failed supplier’s customers can switch to an alternative supplier if they wish to. A SoLR must not charge a termination fee if a customer takes supply from another supplier.

2.23. We will also seek information on the proposed steps to be taken in relation to customers who hold credit balances with the failed supplier.

Which as I said, could have been a more expensive rate than they are going with and could have been higher than the cap provided it was done as a tariff with no exit fee.

Ask yourself this, why would Ofgem (the Government) agree that a SoLR could charge a tariff in excess of its Cap when it is not prepared to revise the Cap to stop other suppliers going out of business? Ofgem has to agree the SoLR deemed tariff BEFORE it affords a supplier SoLR status. The SoLR will recover the loss that it makes on the deemed tariff through the SoLR claim process. If the claim is agreed by Ofgem, then the bill is passed on to ALL energy suppliers.