Octopus Energy takes on Avro customers

Armengar

nothing for me, logging onto octopus I get:

"Once Avro's administrators issue your final bill, we'll update your Octopus balance and your transfer will be complete. We'll be in touch as soon as we know more." 

I cancelled Avro DD as soon as they went bust, I set up an octopus DD at the start of nov.  It is due to go out in 2 days.  Ive been putting the money aside each month and will pay this as a "one off" bill payment as soon as im properly transferred.

Consumerist

Just for info, my Octopus DD has been collected for November but no sign yet of Avro final bill online at Avro.

alanwsg

I also found Avro's final statement on the assets.avroenergy.co.uk site.
It used the readings I provided and showed the credit I'm owed as well.

merchcon55

meinnit said:

Interesting article from Greg Jackson, CEO of Octopus..

https://octopus.energy/blog/the-price-cap-is-not-responsible-for-the-demise-of-energy-companies/

Blames regulatory failings for allowing some of these companies to take risks such as not hedging. He does mention that hedging requires a lot of capital that some of the challengers just didn't have

I'm not buying this argument. Another industry that requires hedging are the airlines. Fuel is a HUGE item that factors in their costs and ultimately what they charge for tickets (or cargo). I cannot recall how many years ago when oil jumped to like $140 a barrel - airlines responded by imposing "fuel surcharges" to ticket prices (or cargo shipments had a "fuel surcharge" added to the invoice). Had these companies not been able to pass on an added cost (higher fuel costs) - even though many had very sophisticated hedging policies in place - and had adequate capital - many of these companies would simply have stopped offering their services - and ceased trading.

While no customers were happy to pay a fuel surcharge - the services continued for the most part (there were a few casualties - Monarch comes to mind).

Without doubt many of those who ceased trading  were run terribly - and time will tell - for some- to see if criminally.

But there can be no doubt that many of the companies that ceased trading, would still be trading - if like the airlines - they could have added a "fuel surcharge". The price cap prevented them doing so.

What we will get instead is a DELAYED "fuel surcharge" being added to all our bills come April - with far less competition in the marketplace as a result. 

Mastanlem

Been looking a few times today on my Avro and my final bill has now been generated. The correct readings being used. I worked out approx £146 - £148 refund, as my gas meter is imperial, plus not sure how many days they would account for. My balance is £147.25.
Yeah.

MWT

merchcon55 said:

But there can be no doubt that many of the companies that ceased trading, would still be trading - if like the airlines - they could have added a "fuel surcharge". The price cap prevented them doing so.

That only helps them if they had not already fixed their prices for many months into the future without fixing their costs (hedging).

This is the sort of behaviour Greg is referring to, and the price cap could have been double what it is any those companies would still have failed...

K1977

victor2 said:

Also found Avro's final statement on the assets.avroenergy.co.uk site. Used the readings provided for 26/9 without any adjustment.

Nothing on Octopus yet, but I'm sure it will come in due time.

Edit: Did notice the gas CV was 39.5, up from the 39.3 used on as statement produced on 16/9/21, but it only made a few pence difference.

I tried having a look on the assets.avroenergy.co.uk site but it just wont accept my password for some reason, its letting me log in to the regular avro site but that doesnt show much info on there and half of it is blanked out 🤔

victor2

K1977 said:

victor2 said:

Also found Avro's final statement on the assets.avroenergy.co.uk site. Used the readings provided for 26/9 without any adjustment.

Nothing on Octopus yet, but I'm sure it will come in due time.

Edit: Did notice the gas CV was 39.5, up from the 39.3 used on as statement produced on 16/9/21, but it only made a few pence difference.

I tried having a look on the assets.avroenergy.co.uk site but it just wont accept my password for some reason, its letting me log in to the regular avro site but that doesnt show much info on there and half of it is blanked out 🤔

That site seems to be an old version of Avro's actual site. Maybe the administrators got it running, but it only works for accounts over a certain age? The account I'm using has been with Avro for about 3 years.

youravinalarrrf

10 minutes ago it wasn't working on the main Avro website but it is now so must have been updated. It's also available on https://assets.avroenergy.co.uk/Default.aspx to those with an older account.

I'm really surprised the Official Avro Octopus information page hasn't been updated yet.

wild666

Vegastare said:

Just an update from me and my absent DD of 12th Nov....still not taken - bank said Monday that Octopus had confirmed intention of DD 27th Oct......and still not taken, email sent to Octopus Monday and no answer just acknowledgement of email and link to question Avro Customers might need answering......yep but not mine.

Guess I can console myself with the fact all are DD and standing order come out of one account so what was Avro (which we cancelled) and Octopussy money is still there and not going anywhere.

Thanks to those who posted that they had already had dd started, my bank suggested it may be drawn in Dec 12th as probably Octopus under pressure.....the lady at my phone bank was more calming than a bottle wine

If you have an account set up by Octopus then you can make an additional payment, say the amount of your DD if it's not being taken already.