GEUK newbie customers - What are you doing?

jefferson89

Hello, apologies if this has been addressed but not sure where to find it if it has. So it's a call to GEUK customers

So I recently joined GEUK of the last 6 weeks or so as I decided it was best to fix on their sparkle tariff V6 compared to what British gas were offering. Now I remember a forum member stating something along the lines that GEUK aren't regulated like the other big firms meaning they have more.freedom to not really fall in line like the other big names.

Since then Martin has released info about the new "price guarantee", my concerns are;

1) When Martin talks about the energy firms  who will bring down fixed tariffs to match inline with the price guarantee, he does not mention GEUK?  Will they be held to the same measures for their customers?

2) I seem to be in that 3rd worse case group, that since I've moved / fixed quite late, I may still be paying more than the price guarantee even if they drop it.  Will GEUK be doing the price guarantee tariff allowing me to switch from my fixed sparkle to the price guarantee?

3) If GEUK are doing none of the above what's the best course of action, I am able to switch free of charge but is that even possible at present?

Pics attached of my current tariff versus the new price guarantee.

Thank you

[Deleted User]

1. Not directly, might have to do something to avoid losing all their customers.
2. Don't know, don't have to.
3. Switching is still possible, and likely to become easier if the EPG provides the stability it's supposed to.  OFGEM have re-iterated to suppliers that they should be accepting new customers, they've just been wary about getting blamed if a customer ended up in an accidentally worse position.

Wilt

GEUK are exempt from the Ofgem price cap, but this isn't the Ofgem price cap.

To date, I haven't seen anything to suggest that GEUK will be exempt from the governments Energy Price Guarantee, but since everything is still a bit up in the air we don't know for certain until GEUK confirm one way or another.

Probably best to stay put for now. 

northernsparky

I baled out on the day the price guarantee was announced - so I’m back paying svr rates. 

It was worth the gamble to avoid the forecast October price rise, so I don’t begrudge the small premium I paid for a few weeks. 

danco

Just spoke to them (about the billing for my changeover) and they confirmed that they will be lowering their prices. Exact details not available yet.

One thing I like about GEUK is that whenever I have phoned I have reached a human quickly, sometimes immediately, and got sensible replies to my queries.

Mike360

jefferson89 said:

Hello, apologies if this has been addressed but not sure where to find it if it has. So it's a call to GEUK customers

So I recently joined GEUK of the last 6 weeks or so as I decided it was best to fix on their sparkle tariff V6 compared to what British gas were offering. Now I remember a forum member stating something along the lines that GEUK aren't regulated like the other big firms meaning they have more.freedom to not really fall in line like the other big names.

Since then Martin has released info about the new "price guarantee", my concerns are;

1) When Martin talks about the energy firms  who will bring down fixed tariffs to match inline with the price guarantee, he does not mention GEUK?  Will they be held to the same measures for their customers?

2) I seem to be in that 3rd worse case group, that since I've moved / fixed quite late, I may still be paying more than the price guarantee even if they drop it.  Will GEUK be doing the price guarantee tariff allowing me to switch from my fixed sparkle to the price guarantee?

3) If GEUK are doing none of the above what's the best course of action, I am able to switch free of charge but is that even possible at present?

Pics attached of my current tariff versus the new price guarantee.

Thank you

I joined them around the same time as you, on a fix that was higher than the price guarantee before it was announced. I did call them this morning, the person I spoke to said they are waiting for some further government guidelines news, and then will let customers know by the end of next week. I asked if they were reducing the tariffs the same as the announcement as I understood they weren't part of Ofgem. They said they don't have to do exactly the same if they don't want to, which sounds to me like they have some wriggle room to 'do their own thing' so I am going to wait. I did remind them that the longer they wait to tell me the longer I will continue to pay on my more expensive fix, they said they understood and would let customers know as soon as possible.

Hope that helps you, and anyone else in the same or similar boat.

EssexHebridean

northernsparky said:

I baled out on the day the price guarantee was announced - so I’m back paying svr rates. 

It was worth the gamble to avoid the forecast October price rise, so I don’t begrudge the small premium I paid for a few weeks. 

Can you confirm who you were able to get an SVR switch to? Or was your bale-out simply within the cooling off period so you reverted to a previous supplier? 

As an E7 customer I'm eyeing up EDF as a potential option for us (we're already with them for gas so may get in there on the basis of a straight dual-fuel upgrade) but plan to sit tight for another few days to see what the situation is going to be with GEUK - my understanding is that they have indicated that they are going to do "something" but not yet what that something will be...  I think it's unlikely that my 27p night rate is likely to drop significantly enough to not make EDF's 12p rate a winner, but we'll see... 

jefferson89

danco said:

Just spoke to them (about the billing for my changeover) and they confirmed that they will be lowering their prices. Exact details not available yet.

One thing I like about GEUK is that whenever I have phoned I have reached a human quickly, sometimes immediately, and got sensible replies to my queries.

Hey Danco, thanks for getting back and confirming some things.

Personally i have to say my experience with GEUK is not the best, not the worst but not the best either.

1) When i switched, something went wrong - so they only had my gas meter on the system, by time my electric come over for my first bill, it was too late and got estimated so ended up being double the actual amount (i understand it will even itself out - but as a first impression).

2) Was told about 3 different dates, by different that i switched to them, so that threw things off when coming to submitting my readings whilst also looking not all together with their infrastructure.

3)  They arent great at responding to email, take a long time, whilst i do give them they are good with the phones, i prefer emails as things are said in writing and able to show what was or was not said.

So either way i could stay put if they end up doing right by their customers, or leave simply if the offers are are better else where.

[Deleted User]

If I remember correctly, Ecotricity (who are in the same position re: the cap as GEUK) have said that they will reduce their prices to somewhere "a bit higher" than the EPG.

jefferson89

Hey everyone, thanks for putting in your information.  It would be great if you fellow GEUK customers could book mark this thread and put any information you may find out over others.  I have just got an email form GEUK detailing about the £400 discount scheme should anyone not have seen it yet (see below).  thanks

jefferson89

[Deleted User] said:

If I remember correctly, Ecotricity (who are in the same position re: the cap as GEUK) have said that they will reduce their prices to somewhere "a bit higher" than the EPG.

it will be interesting to see how these smaller companies like GEUK handle pricing, as whilst i understand from their side, they don't need to reduce prices and they are a business at the end of the day, my impressions i have got from numerous calls and emails, is that they are a very small team, maybe 10 -20 it feels as you get through to alot of the same people, to keep customers happy and avoid leaving you would think they may have to fall in line with others. but only time will tell.