MSE News: Energy firm Iresa ceases trading - here's what it means for customers

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  • gardner1
    gardner1 Posts: 3,154 Forumite
    edited 28 July 2018 at 1:55AM
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    Agreed Cookie .. no problems for me either

    Same here 2 yrs electric only and no problems
  • Limara
    Limara Posts: 237 Forumite
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    I only had problems at start up, since then they have failed to add the meter readings several times but being on monthly dd they catch up in the end, and then didn't raise my dd just took some balance from the electric account to pay the gas where other companies have treated them as two seperate accounts. Im sorry to see them go nothing I have found can come any where near the prices they charged
  • Mr_K
    Mr_K Posts: 1,171 Forumite
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    edited 27 July 2018 at 6:17PM
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    Cripes, this is the second time this has happened to me! Being a cheapskate I was with GB Energy before that went under too ! I wouldn't panic/switch - on that occasion the co-op took over the accounts and honoured the tariff. As soon as the tariff finished, I switched. Suspect something similar will happen.

    Surprised at the poor customer service reports, I've never had any problems. Always best to ensure you don't build up a credit balance despite what suppliers say.
  • Daytona
    Daytona Posts: 71 Forumite
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    Given that the OFGEM Safety Net means that I wont lose money on bankruptcy, I've always chosen the supplier offering best value for money. I have no interest in the quality of the customer service because I don't use it.

    IRESA did what they said they would, when they said they would at the cheapest price on the market :)

    Publicising MSEs Cheap Energy Club on the back of this is a joke - I've never received a competitive quote from them.
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
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    MSE claim their cheap energy club is whole of market, so I'm interesting in why you should be able to do better elsewhere.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • poppellerant
    poppellerant Posts: 1,936 Forumite
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    Well it was only a matter of time before they had to shut shop. It was just a question of when.

    After my many hours on the phone to them, I can't say that I'm sorry to see them go. I'm just glad I switched suppliers when I did.

    Does nobody else find it suspicious Iresa ceased trading at this time of the year? Typically at this time of the year, a lot of customers accounts are bound to be in credit due to the warm weather and therefore low energy consumption.
  • molerat
    molerat Posts: 31,866 Forumite
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    gadgetmind wrote: »
    MSE claim their cheap energy club is whole of market, so I'm interesting in why you should be able to do better elsewhere.
    MSECEC can claim what they want, doesn't alter the fact it is not true. There are several suppliers on other comparison sites that do not appear on the CEC.
  • martyp
    martyp Posts: 1,047 Forumite
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    edited 27 July 2018 at 11:40PM
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    I had a nice 16 months of cheap bills and interest monthly on my credit balance which was better than many savings accounts out there. My credit balance kept going up as they never adjusted it and so did the interest accordingly. I didn't really have much reason to contact them but tended to use Facebook and it worked fine. I guess I'm one of the lucky ones not to have any problems but things were going smoothly. They were only small so couldn't expect too much for the customer service but when I did speak to them you knew they were in the UK and probably all in the same building so could interact with each other easier.
    Guess I'll be going over to some company where I pay extra for loads of call centres, probably abroad, so that my call gets answered quickly by people that are often clueless and bounce me around from pillar to post...that's if I even need to contact them. I had much worse experiences being with three of the big six.
    Personally I liked saving the money but all good things must come to an end it seems...
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
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    molerat wrote: »
    MSECEC can claim what they want, doesn't alter the fact it is not true. There are several suppliers on other comparison sites that do not appear on the CEC.

    If they are new entrants, then they may be choosing not to appear on some switching sites to make sure they are onboarding customers at a rate they can handle. Moneysupermarket/CEC (same underlying data) are one of the largest along with uswitch, so any supplier with a competitive tariff that's on these could get swamped in the early stages.

    If it's more established companies, then I have no explanation!
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • bxboards
    bxboards Posts: 1,711 Forumite
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    Daytona wrote: »

    Publicising MSEs Cheap Energy Club on the back of this is a joke - I've never received a competitive quote from them.

    I've always found it utterly useless - the cynical side of me says that MSE tends to benefit from the commision they are paid far more than most users of the tool.

    Everytime I can easily beat their best quotes for dual fuel by going with separate suppliers - in this case Zog for gas, and Utility Point for electricity.
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