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

Options
12467…31

Comments

  • vicki84
    vicki84 Posts: 210 Forumite
    First Anniversary Combo Breaker First Post
    Options
    On Friday I made a transfer to top up my account for the next readings at the end of the month (luckily only £16) do you think this is lost now?

    Thanks
  • beardiedog
    beardiedog Posts: 658 Forumite
    First Post First Anniversary Combo Breaker
    Options
    Avro's dual fuel fixed tariff is looking favourite for me at the moment.

    It's roughly the same monthly cost as Iresa so I'll probably switch to them once it's all sorted.
  • brewerdave
    brewerdave Posts: 8,507 Forumite
    Name Dropper First Anniversary First Post
    Options
    vicki84 wrote: »
    On Friday I made a transfer to top up my account for the next readings at the end of the month (luckily only £16) do you think this is lost now?

    Thanks


    Have a look at your account to check that its showing as a credit:)https://selfservice.iresa.co.uk/selfService/login
  • itchyfeet123
    itchyfeet123 Posts: 480 Forumite
    First Anniversary Name Dropper First Post
    edited 29 July 2018 at 9:17AM
    Options
    So Ofgem is saying credit balances are protected. All well and good, but one of the many issues I have with Iresa is my credit has been calculated incorrectly. Any chance I get the *actual* amount I'm owed, rather than what Iresa says they owe?

    Also, previous ombudsman-ordered credits see to have disappeared from my "finance" tab, and there is another one in the 28 day implementation period. Any chance I'll see this?
  • macman
    macman Posts: 53,098 Forumite
    Name Dropper First Post First Anniversary
    Options
    vicki84 wrote: »
    On Friday I made a transfer to top up my account for the next readings at the end of the month (luckily only £16) do you think this is lost now?

    Thanks

    No, any credit balance is protected and will be applied to your account with the new supplier.
    No free lunch, and no free laptop ;)
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    First Anniversary Name Dropper First Post
    Options
    I've got a just <£80 debit with Iresa. Be interesting to see what happens there...
  • brewerdave
    brewerdave Posts: 8,507 Forumite
    Name Dropper First Anniversary First Post
    Options
    AdrianC wrote: »
    I've got a just <£80 debit with Iresa. Be interesting to see what happens there...


    There are some on here ,who have "escaped" over the last 12 months or so, owing IRESA.....At least one has reported that he has never received a bill or demand for payment - HOWEVER, one suspects that the appointed administrators will prioritise those whose accounts are/were in debit!
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    First Anniversary Name Dropper First Post
    Options
    Oh, I'm happy to pay it - I do owe it. All down to iffy estimated readings.
  • martyp
    martyp Posts: 1,047 Forumite
    First Post First Anniversary Combo Breaker
    Options
    I may have a glimmer of hope as I switched to Flex5 in March and it was the cheapest around but Outfox the Market became cheaper for electric and gas. I'm on a cheap tariff with Bristol Energy for gas which ends in September and they don't have a tariff that is too competitive with the market to switch to at the moment so could switch both gas and electric potentially in September as I can't imagine this new supplier being the cheapest.
  • Alias_Omega
    Alias_Omega Posts: 7,912 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    edited 29 July 2018 at 2:49PM
    Options
    When we first went with IRESA, we calculated the costs ourselves. You dont need to any special websites to tell you this, just pen and paper. Outfox the market as a bit tricky, as they have a monthly charge depending on your usage. This just gets thrown in at the end.


    Its quite easy..


    (Daily Charge x 365, plus, Annual Usage x unit cost).




    As of now, I'm currently £41 in credit for Electricity and £72.56 for Gas.The Gas is so high, as they have not yet managed to validate my meter readings since we changed over to a smart meter in Feb 18. They have been taking the Daily Standing Charge, just leaving usage...


    A good company, very no frills customer service...probably hoped that energy prices would fall, meaning more profit for them. Its a shame this company has closed, whenever ive been stopped in the street and asked about my energy costs, when i mentioned IRESA the sales pitch was ended as they knew they could not match the costs.

    A quick check of companies house shows that the company was just about to start making a profit (£128k). Only financials have been listed for up to 2016 that i can see - https://companycheck.co.uk/director/917152146/ADENIYI-OLUWASEUN-OLADEJI/financials


    If you have access to GlassDoor, you can see the reviews from the staff who have worked there - https://www.glassdoor.co.uk/Reviews/Iresa-Reviews-E1755394.htm

    It appears that lack of staff, might be the cause of the issues here, but this again is consequence of the lack of profit, as £128k would probably only fund 4-5 extra full time staff (plus additional IT costs)....which wont really fix a sinking ship.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards