Zog has gone 😢

[Deleted User]

spot1034 said:

geraint83 said:

Really sad news. I'd just uploaded my meter reading before hearing the news - I'd gone straight into the meter reading page (bookmarked) so didn't see the announcement on their front page. I always tend to submit a reading on the 1st of the month.

I've read all of the ofgem guidance - but am unclear as to what now happens with this meter reading? Will I be billed up until today on the rates I had with Zog, with the new supplier's rates applicable from today onwards?

You have probably got a few more days at Zog rates. The new SOLR will be announced probably around next Monday - might be a bit sooner but most are taking that sort of time. If it were to be Monday the new supplier would probably be deemed to have taken over the previous day. However that is just going by what has happened in other cases recently.

You'll be asked for a reading by the new supplier.

Technically, Zog is still trading until a SoLR is appointed. As Zog has to inform Ofgem that it intends to cease trading two weeks before it does so, I cannot understand why the SoLR is not announced at the same time as the cease trading announcement.

[Deleted User]

It could be worse, you could be in Scotland or Cumbria having had no power for 5 days. They've probably no way of hearing the news anyway, if the internet and everything is still down...

EssexHebridean

wakeupalarm said:

I would suggest you all cancel your DD straight away and set up a new DD with the SOLR supplier when known.

This is ONLY a good idea if you are confident that you will remember to put aside the monthly amounts ready to transfer straight to your account with your new supplier when that is set up - which may be some months down the line. If there is ANY risk that won't happen, then simply let it run - in the same way it would have run had they NOT gone under. (Frankly, there is no need to cancel, and if your new supplier shortly informs you that they will be able to take it over directly from Zog, it simply creates an extra bit of hassle for you and them, and makes it likely that at least initially you may be placed on a higher non-DD capped rate.) There is NO risk that anything you continue paying will be lost to you. 

jimjames

spot1034 said:

Only 11,700 customers according to press reports that are now appearing.

Yes, I was surprised how small they were when I saw that

FreeBear

Deleted_User said: Meanwhile, can someone answer an 'idiots' question? Why is electricity generation so dependent on gas, especially if gas is supposedly being phased out?

As dirty, polluting coal fired generating stations were phased out, they had to be replaced by something cleaner. So several large power stations were built to run off gas. The UK is currently using gas to generate 40-50% of the total amount of electricity.

superbigal

Should you be inflating your meter reading a little ?  to benefit from the current zog rates.

[Deleted User]

superbigal said:

Should you be inflating your meter reading a little ?  to benefit from the current zog rates.

This comes up time after time. Firstly, it is fraud; secondly, all meter readings are industry-validated and, thirdly, how much do people think that they would save? The saving is just the difference between the two unit prices per kWh.

https://octopus.energy/blog/secret-life-opening-meter-reading/

superbigal

[Deleted User] said:

superbigal said:

Should you be inflating your meter reading a little ?  to benefit from the current zog rates.

This comes up time after time. Firstly, it is fraud; secondly, all meter readings are industry-validated and, thirdly, how much do people think that they would save? The saving is just the difference between the two unit prices per kWh.

https://octopus.energy/blog/secret-life-opening-meter-reading/

So is allowing estimates to be billed which are higher than the actual reading fraud ?   

FreeBear

Dolor said:

superbigal said:

Should you be inflating your meter reading a little ?  to benefit from the current zog rates.

  all meter readings are industry-validated and, thirdly, how much do people think that they would save?

The validating readings have a tolerance of +/- 10 units - If you are on a smart meter, the hand over reading should be the actual reading. Very little scope to get away with inflating the final readings, and the savings are going to be pennies.

Stratus

We knew the collapse of CNG wholesale was going to be a problem for Zog. Here it is in their own words from their website,

Throughout our time we have invested in the best value technology to keep costs down and purchased our gas in advance from Contract Natural Gas Ltd to keep the promise we made to customers to supply simple cheap domestic gas.

However, Contract Natural Gas Ltd has withdrawn from the wholesale market and ceased to trade. Unfortunately  the administrators of Contract Natural Gas Ltd are unwilling to transfer the gas hedges we had previously agreed. This has put us in an untenable  position of having to purchase gas at the current market rate and we have no choice but to cease to trade.