Zog has gone 😢

Robin9

Northern_Wanderer said:

Let's hope EDF (or any of the big 6) don't vanish with peoples credit balances or our standing charges will hit the moon. Starting to think there should be gov action on credit balances accumulating with these energy firms.

The solution is often in your own hands - we hear of people having credits of £500  - why ?   

My EDF credit is £27

Gerry1

Northern_Wanderer said:

Gerry1 said:

brewerdave said:

Just tried to log in to the Zog beta site ,to make sure that nothing had changed with final statement but it appears to have vanished ; then tried original Zog site but that isn't there anymore - so anyone who gets told by EDF that they haven't received final credit balance values .............

I wish EDF would vanish.  After they've repaid my credit from Zog, of course...

Let's hope EDF (or any of the big 6) don't vanish with peoples credit balances or our standing charges will hit the moon. Starting to think there should be gov action on credit balances accumulating with these energy firms.

That's why I pay by Variable Direct Debit, no credit balance to build up !

Northern_Wanderer

I guess some people have no idea how to calculate their actual annual usage and how much of a DD they should be paying. Always paid my electric by variable DD since getting GCH (though I'm not sure I could do that with storage heaters!). Didn't mind a small credit going into winter with Zog until now when it's a waiting game to get it back. Yip, switching to variable very soon and never again will I do budget account. Some companies seem to treat their customers like a bank, even if they are already in credit they want to up the DD.

Shedman

Gerry1 said:

Northern_Wanderer said:

Gerry1 said:

brewerdave said:

Just tried to log in to the Zog beta site ,to make sure that nothing had changed with final statement but it appears to have vanished ; then tried original Zog site but that isn't there anymore - so anyone who gets told by EDF that they haven't received final credit balance values .............

I wish EDF would vanish.  After they've repaid my credit from Zog, of course...

Let's hope EDF (or any of the big 6) don't vanish with peoples credit balances or our standing charges will hit the moon. Starting to think there should be gov action on credit balances accumulating with these energy firms.

That's why I pay by Variable Direct Debit, no credit balance to build up !

Ditto.  Its just a shame they forget to raise the bill monthly like they are supposed to......  not sure I'm surprised by that though 😅.  

1. You choose to pay by Direct Debit with exact payments and pick an energy plan (tariff).
2. If you give us your meter readings regularly, you'll get a bill each month. The bill will show exactly how much you need to pay for the energy you've used. As you pay by Direct Debit, it will be paid automatically.

Edit:  I think they're watching me lol....just logged on again and they seemed to have generated a bill (which wasn't there this morning) although it covers just under 6 weeks rather than a month. Can't see the detail yet of course.

[Deleted User]

Northern_Wanderer :

Let's hope EDF (or any of the big 6) don't vanish with peoples credit balances or our standing charges will hit the moon. Starting to think there should be gov action on credit balances accumulating with these energy firms.

There are no credit balances to accumulate. Zog is a failed company and as such we are all unsecured creditors. Suppliers are not required to hold customer funds in escrow. I am sure that some money from the Administrator is forthcoming but in such cases it is usually just pence in the £.

Your credit balance is protected by Ofgem. The SoLR eventually will credit your account with your Zog credit balance: it will then seek to recover all or part this money from Ofgem as part of its claim for SoLR support. If agreed, Ofgem will then pass this ‘debt’ on to the National Grid who in turn will pass it on to suppliers and then all electricity consumers. This is how the protection offered under the Consumer Levy works. 

molerat

It is about time the regulator started to actually proactively regulate rather than react after the !!!!!! has hit the fan.

All companies should offer a full range of billing and payment options up front, easily visible and selectable on their web sites.  The default billing option should be monthly for all payment methods unless the customer wishes to choose otherwise.

Maybe there is some sort of consumer champion out there who could put this in front of OFGEM or maybe the cause is not worthy enough and would not gain them enough column inches.

Northern_Wanderer

Dolor said:

Northern_Wanderer :

Let's hope EDF (or any of the big 6) don't vanish with peoples credit balances or our standing charges will hit the moon. Starting to think there should be gov action on credit balances accumulating with these energy firms.

There are no credit balances to accumulate. Zog is a failed company and as such we are all unsecured creditors. Suppliers are not required to hold customer funds in escrow. I am sure that some money from the Administrator is forthcoming but in such cases it is usually just pence in the £.

Your credit balance is protected by Ofgem. The SoLR eventually will credit your account with your Zog credit balance: it will then seek to recover all or part this money from Ofgem as part of its claim for SoLR support. If agreed, Ofgem will then pass this ‘debt’ on to the National Grid who in turn will pass it on to suppliers and then all electricity consumers. This is how the protection offered under the Consumer Levy works. 

 

@[Deleted User] I wasn't referring to the credits due to people via the SOLR for the previous failed supplier. I was referring to the fact that so many people are in credit with their supplier. I don't know the figures but potentially that is a massive amount of credit if you take the UK population of 68M, however many households that is with two energy supplies.

Probably the remaining firms they will be too big to fail. However, what I meant was, now we know that the standing charges increased drastically as a result of the SOLR system, if any one of the BIG 6 were to fail, and it is the end customer who ends up paying for the failure, how much more is that going to add to our bills?

That's why I think it should not be possible for people to build up credit or large credit, because we are all paying a high price for the energy companies using us as banks when they go bust. Hence why I suggest it might be time to lobby MPs/ OFGEM on this issue to protect us minions from the failure of large business.

brewerdave

Robin9 said:

Northern_Wanderer said:

Let's hope EDF (or any of the big 6) don't vanish with peoples credit balances or our standing charges will hit the moon. Starting to think there should be gov action on credit balances accumulating with these energy firms.

The solution is often in your own hands - we hear of people having credits of £500  - why ?   

My EDF credit is £27

I agree that £500 credit is a bit OTT - but I had a credit of over £120 when Zog went down because I had calculated that I would have been at zero balance by the end of February as the weather (hopefully) warmed up.

kev2009

HI, I had a higher credit with Zog but when i saw some energy companies failing, I decided to request some of my credit back, which was all fine.  I left some in and it did build up a little but to what I had before.  I too was expecting higher bills over winter so I left some credit in the account to help offset these so after the bills, I would have had a much lower credit amount.

On another note, I see EDF are now advising me to increase my DD due to the price rises coming in April as they wont review it until next DD review which I believe will be June.  Is anyone increasing there DD and by how much?  I'm tempted to leave mine as is as the credit due back will hopefully leave a little bit of credit in the account, not much maybe £20-30 and with hopefully summer coming, I wont use much gas so shouldn't be any big unexpected bills.

My elec is with a different supplier and I'm not really in credit with them as I have a elec smart meter so the reading is always accurate and billed accordingly so hence no real build up of credit.  I think i had £5 credit on last look.

Kev

Northern_Wanderer

kev2009 said:

On another note, I see EDF are now advising me to increase my DD due to the price rises coming in April as they wont review it until next DD review which I believe will be June.  Is anyone increasing there DD and by how much?

I won't be incresing my DD as I will go onto variable monthly billing at that point when they ask for an increase. I am in debit just now but due a £70 Zog credit. I will be fine to manage my own budget and prefer that to building credit with potentially insolvent companies.