Octopus Energy takes on Avro customers

Consumerist

Max68 said:

I was considering that, a one off payment so to speak.  What put me off is the lack of information on the website so I was concerned that any one off payment I made would not show up or not end up in Octopus account!!

Other than any direct debits they may (or may not) collect, Octopus will not get any more money from me until my credit balance from Avro shows on my account. If their first statement shows me in debit, I will make a manual payment at that time - and not before.

youravinalarrrf

Max68 said:

I was considering that, a one off payment so to speak.  What put me off is the lack of information on the website so I was concerned that any one off payment I made would not show up or not end up in Octopus account!!

To put your mind at rest I have now made two sparate one off payments via my Octopus Dashboard.

On each occasion I received an email receipt and a second confirmation of payment email. My Octopus Dashboard updated immediately showing my updated balance although the email does say it could take a couple of days to update. 

wakeupalarm

So could you set your monthly DD to £1, and then just top up the balance as and when required?

Consumerist

wakeupalarm said:

So could you set your monthly DD to £1, and then just top up the balance as and when required?

From what I gather that would be theoretically possible but whether Octopus would wear that for long, I don't know. The trick, I guess, would be to make your manual payments before submitting your latest meter readings so that the statement generated from them shows a positive balance.

polymaff

What's in this for Octopus?

Consumerist

polymaff said:

What's in this for Octopus?

Well, in my case, they'll get what they're owed when they're owed it and not before.

pscotty

Consumerist said:

polymaff said:

What's in this for Octopus?

Well, in my case, they'll get what they're owed when they're owed it and not before.

Who's been supplying your power for the last seven weeks?

Consumerist

pscotty said:

Who's been supplying your power for the last seven weeks?

Are you trying to make me cry?

2010

One thing`s for sure everybody is going to be paying more than they were with Avro.
With the onset of winter bills are going to be even higher.
I cancelled my DD the day Avro hit the deck and only last week did I set up a DD with Octopus and adjusted it accordingly to what I estimated it should be where we find ourselves now.

When we finally get our credit from Avro, which from what I have read, Octopus is responsible for, and could take quite a while to receive, then I`ll reduce my DD accordingly.

Those who are receipt of WFP could well "invest" the payment into their Octopus accounts.

polymaff

Consumerist said:

polymaff said:

What's in this for Octopus?

Well, in my case, they'll get what they're owed when they're owed it and not before.

Yes, but what's in it for Octopus?  The more customers they take on the more they lose.

It reminds one of the collapse of quite a few Building Societies 30+ years ago.  Their loan books were full of bad debt,  I remember the takeover of the Chesunt by the Bristol and West.  At the EGM I had a chance to chat with the Chief Exec of the B&W and asked him the same question.  He said that the loan book looked very bad, but the Cheshunt had several well-placed high street properties that could be cashed in.  The key point was, though, a certain feeling of obligation to obey the "suggestion" by the Building Societies Commissioner.

I wouldn't believe that "play the game, chaps" circumstances would apply today.  Nor the quid-pro-quo of assets