Zog has gone 😢

MWT

Patr100 said:

It still somewhat irks  me when the press headline a monetary figure for increases rather than a percentage. I know they are taking the average and using that but to me a percentage increase for gas or lec is much more useful to above/below average users to estimate the impact of rises. 

The media just want a single number to broadcast.

Once you move away from the 'typical' user you can't use percentages without knowing the mix of gas/electricity.

Yes it is annoying, but not sure what would be better...

Gerry1

Apologies if this has been asked before, but has EDF or Ofgem ever stated that its Zog SoLR tariff rates will continue unchanged until close of play on 3 June 2022?  ISTR that Ofgem regulations require that the SoLR tariffs should last for six months, but I can't find anything about this in the case of Zog → EDF.  If this is the case, it's well hidden !

If it's true that the old capped rates will last until June, I doubt that EDF will give it much publicity, they'll no doubt prefer that people switch to a much more expensive fixed tariff shortly before the new cap starts on 1 April 2022.

Verdigris

I'd assumed the rate will go up in April. It'd be a bonus if it doesn't but miracles are few on the ground, these days.

PennineAcute

Gerry1 said:

Apologies if this has been asked before, but has EDF or Ofgem ever stated that its Zog SoLR tariff rates will continue unchanged until close of play on 3 June 2022?  ISTR that Ofgem regulations require that the SoLR tariffs should last for six months, but I can't find anything about this in the case of Zog → EDF.  If this is the case, it's well hidden !

If it's true that the old capped rates will last until June, I doubt that EDF will give it much publicity, they'll no doubt prefer that people switch to a much more expensive fixed tariff shortly before the new cap starts on 1 April 2022.

If true, I am sure a certain MSE guru would be shouting about this from the Post Office Tower.  There again, is he a guru?

Gerry1

PennineAcute said:

Gerry1 said:

Apologies if this has been asked before, but has EDF or Ofgem ever stated that its Zog SoLR tariff rates will continue unchanged until close of play on 3 June 2022?  ISTR that Ofgem regulations require that the SoLR tariffs should last for six months, but I can't find anything about this in the case of Zog → EDF.  If this is the case, it's well hidden !

If it's true that the old capped rates will last until June, I doubt that EDF will give it much publicity, they'll no doubt prefer that people switch to a much more expensive fixed tariff shortly before the new cap starts on 1 April 2022.

If true, I am sure a certain MSE guru would be shouting about this from the Post Office Tower.  There again, is he a guru?

He doesn't seem to have posted in the Energy forum for a while.  But he'd need a time machine to shout from the Post Office Tower, that name disappeared over 40 years ago !

spot1034

I've wondered about that point as well. I think it's more than likely that they will be increasing prices in April, but on a technical point am I right in thinking that SOLRs are entitled to claim back costs of taking on customers of failed suppliers for six months? If so, is there anything in the rules which would prevent EDF in this case from maintaining the tariff agreed up to the end of that period and claiming any loss incurred? 

QrizB

spot1034 said:

I've wondered about that point as well. I think it's more than likely that they will be increasing prices in April, but on a technical point am I right in thinking that SOLRs are entitled to claim back costs of taking on customers of failed suppliers for six months? If so, is there anything in the rules which would prevent EDF in this case from maintaining the tariff agreed up to the end of that period and claiming any loss incurred? 

It will depend on what EDF agreed with Ofgem when they took us on as SoLR. If EDF told Ofgem "We'll give Zog customers a tariff fixed at the current cap for 6 months", then it's fixed. If they told Ofgem "We'll give Zog customers a tariff that follows the cap", then it's variable.

But we don't know and EDF aren't saying.

Adviceuk3

I am now getting really annoyed with Edf. We have all had our final statements off ZOG but to date our credit balances have not been updated. I am suspecting they playing games now with this hoping to claw back people's credits due to price changes.

Has anyone had there edf balances updated with the credits from zog?

MWT

Adviceuk3 said:

I am suspecting they playing games now with this hoping to claw back people's credits due to price changes.

That would be completely pointless given that they can recover the costs they incur from the credits anyway.

Far more likely that they want to do one exercise to process all the credits at the same time and for one reason or another the data is not yet complete and in their hands.

The good news with this process is that those owed money by a failed supplier are not standing at the end of a very long line of unsecured creditors, the bad part is that it takes time and most of that time is out of the control of both the SoLR & Ofgem. I'd focus on the first of those things.

[Deleted User]

Adviceuk3 said:

I am now getting really annoyed with Edf. We have all had our final statements off ZOG but to date our credit balances have not been updated. I am suspecting they playing games now with this hoping to claw back people's credits due to price changes.

Has anyone had there edf balances updated with the credits from zog?

I spoke to a senior EDF  manager about this last week and I was told that EDF has yet to receive the Final Bill information from Zog, and that the SoLR process was extremely complicated etc etc. 

The missing piece of the jigsaw is that ex-Zog customers are all unsecured creditors of a supplier. The repayable credits may only amount to pennies in the £ but my guess is that SoLRs may be forced to wait until all the affairs of the failed supplier are wound up before they receive a credit transfer. They then top up the credit balances from their own funds before agreeing with Ofgem any recompense (in the past, some SoLRs have waived their right to recover this money on the basis of saved marketing costs). I accept that there may be other forces at play.