Energy refund heartache

NYCCP

Octopus are withholding my refund, following my switch to another energy supplier, claiming they have not received a final electricity meter reading from my new supplier. My new supplier say they have sent it. After sending numerous daily emails to both companies without satisfaction, should I now expedite my issues to the Ombudsman? I don't know what else I can do; I am stuck in the middle!

oldernonethewiser

How long have you been waiting for the refund?

NYCCP

2 weeks so far but it is frustrating that our new supolier say they have sent the COS final reading to Octopus abd Octopus keep saying they have nit received it - so frustrating

NYCCP

https://forums.moneysavingexpert.com/discussion/comment/82131709#Comment_82131709

2 weeks which is within the 'guidelines' we know but it is frustrating that our new supplier say they have sent the final reading to Octopus but Octopus say they haven't received it. Who do we believe?

tfhnota

Didn't Octopus have a system crash a week or two ago so may have disappeared into the ether.

Swipe

Octopus have 6 weeks to produce your final bill and then another 10 days after that to refund you any owed credit. You are completely jumping the gun on this.

oldernonethewiser

https://forums.moneysavingexpert.com/discussion/comment/82131729#Comment_82131729

Took 5 weeks from me leaving Octopus to refund being in my bank account.

mac.d

I got my final gas bill immediately when switching away from Octopus, no electric for some reason. Waited a few weeks then contacted them, supplied a photo of the meter reading I'd submitted as my opening reading and a photo of a bill showing that reading used by gaining supplier. Within 10 days they had provided my closing bill and the refund is in my bank. No bother at all.

Scot_39

https://forums.moneysavingexpert.com/discussion/6682790/energy-refund-heartache

your still around 4 weeks on final bill and 6 weeks on refund early before can even start a complaint about missing refund.

As Ofgem allows 6 weeks to produce tge final bill - so another 4 weeks remaining - before any comp due for late final bill and then 10 working days after final bill to refund.

Octopus are therefore not "withholding" anything under their license terms - you were just expecting something that in reality they have no obligation to provide - a near instant refund.

Even if they sent money today, you wouldnt get it for 3 working days assuming via BACS - maybe longer via reverse DD - often 3 but upto 7 working days - so would be Monday at earliest, Thursday latest.

And emotive terms like "heartache" just wont wash once you do get as far as Ombudsman - and your months away from that formal stage. As 4 weeks before can really enter complaint mode with Octopus, 8 weeks after that before can go to Ombudsman if they fail to resolve and x months for them to seek Octopus evidence and then adjudicate.

All you can do is as you have check they are trying to progress it.

And be warned if can and often does run late, you certainly wont be the only person leaving Octopus to hit the 6 weeks and get £40 late comp - or worse multiples thereof - added to final refund when it finally arrives.

PS For future reference its often far slower - subject to min fund retention levels on annualised DD - to get a refund once leave than the 3 weeks max at many for an in service refund. So often better to ask for refund if significant funds then leave.

RelievedSheff

Why the heartache?

Octopus are still well within the timescales that they have to provide you with their final bill and the refund of credit.