Economy Energy stops trading - MSE News

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  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    stevenpc wrote: »
    . . . I did read somewhere that said credit refunds for those that aplied b4 the 4th january had to be paid by the 18th.My switch started early october
    The regulator directed EE to refund as above but they went into administration before complying.

    I suspect most will have to wait until Ovo gets round to it and that might be a while yet.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • stevenpc
    stevenpc Posts: 139 Forumite
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    Consumerist wrote: »
    The regulator directed EE to refund as above but they went into administration before complying.

    I suspect most will have to wait until Ovo gets round to it and that might be a while yet.


    hope its not like ee fast track or ill have to amend my will so people will know who owes me money.
  • jk0
    jk0 Posts: 3,479 Forumite
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    I think OVO are taking the mick with their prices. (And expecting us to swallow them until they get their act together.) I am switching to a two year fix with EDF which is £168 pa cheaper than OVO simpler tariff, and will live with any refund delay it causes.
  • stevenpc
    stevenpc Posts: 139 Forumite
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    jk0 wrote: »
    I think OVO are taking the mick with their prices. (And expecting us to swallow them until they get their act together.) I am switching to a two year fix with EDF which is £168 pa cheaper than OVO simpler tariff, and will live with any refund delay it causes.


    and they might do an ee and hold on to the credit owed to people while they recover enough from those that transfer there to pay for it
    perhaps ofgem should stipulate how quick credit repayments should be paid.They owe me 2 weeks pension.Lots of people are worse off.
  • gt94sss2
    gt94sss2 Posts: 5,626 Forumite
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    stevenpc wrote: »
    and they might do an ee and hold on to the credit owed to people while they recover enough from those that transfer there to pay for it

    They won't - they have no need to do so. Ultimately, Ovo will be sending a bill to Ofcom asking for all the costs incurred (including staff costs and interest on any money they borrowed) to refund to ex-EE customers.

    However, like all firms who take over others which have collapsed, they will prioritise existing EE customers and sort out their migration/billing to them before dealing with refunds for those customers who had already left EE before they collapsed.
  • worn_out
    worn_out Posts: 161 Forumite
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    I too have seen the new OVO tariffs, 32% higher than EE...so I've switched to EDF 2 year deal and will leave them to sort out the mess with OVO. I'm approx £150 in credit with EE but the last 'statement' from EE shows me £140 overspent due to their ridiculous estimates of my usage. I have kept a record of my meter readings at the key dates so hopefully all will be sorted.


    One question though - do we assume that from 7th january OVO will be charging us for any consumption from that date (at their higher rates) until such time as we all transfer to a cheaper supplier ? I was told by EDF it could be 3 weeks before they can switch so that'll be mid February I suppose. Will I get a short bill from OVO before I start getting bills from EDF ? Is this how it works ?
  • jk0
    jk0 Posts: 3,479 Forumite
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    worn_out wrote: »
    I too have seen the new OVO tariffs, 32% higher than EE...so I've switched to EDF 2 year deal and will leave them to sort out the mess with OVO. I'm approx £150 in credit with EE but the last 'statement' from EE shows me £140 overspent due to their ridiculous estimates of my usage. I have kept a record of my meter readings at the key dates so hopefully all will be sorted.


    One question though - do we assume that from 7th january OVO will be charging us for any consumption from that date (at their higher rates) until such time as we all transfer to a cheaper supplier ? I was told by EDF it could be 3 weeks before they can switch so that'll be mid February I suppose. Will I get a short bill from OVO before I start getting bills from EDF ? Is this how it works ?


    I don't know.


    I have a nasty feeling that OVO will be setting their meter readings way before the 8th January ones in order to recoup the credit they have to repay to EE's customers.
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    edited 20 January 2019 at 1:48PM
    worn_out wrote: »
    . . . One question though - do we assume that from 7th january OVO will be charging us for any consumption from that date (at their higher rates) until such time as we all transfer to a cheaper supplier ? I was told by EDF it could be 3 weeks before they can switch so that'll be mid February I suppose. Will I get a short bill from OVO before I start getting bills from EDF ? Is this how it works ?
    The normal procedure would be that EDF will send your opening meter readings for verification and then the verified readings would be passed to Ovo to close their account. Ovo will charge for the period between the transfer from EE until the switch date.

    The problem which I foresee is that if the closing readings sent from EE to Ovo have been "tweeked" then it is possible that verification may fail and industry-based estimated readings may be used instead.

    In the circumstances, I would suggest that sending meter snapshots to EDF might be a good idea.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • worn_out
    worn_out Posts: 161 Forumite
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    Ok...Now I have been asked by Ovo for the final meter readings by 31 january 2019. This will be before they realise I've already switched to EDF , which will take another 2 weeks yet.


    Now, given the price of Ovo energy..and the possible difficulty in getting any credit balances back from EE I am going to fiddle these readings so that my final balance with EE will be zero..for both gas and electric.

    One question though, given EE went bust on 7th january..and Ovo asking for readings by 31 january, what happens to those days in between..ok i'll give them my estimated meter readings but what about the daily fixed charge..will those remaining 24 days of january be charged by EE or by Ovo ?


    I am assuming the meter readings I'm giving are to be used to calculate the final EE bill, so they can work out what is owed to them...and where Ovo start from (they do ask 'opening' readings)...which is why i'm fiddling the readings to my advantage...is it safe to assume the daily charge will be included up to 31 jan, or 7th jan ?


    thanks
  • jk0
    jk0 Posts: 3,479 Forumite
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    Ah, you're on a hiding to nothing trying that. If the readings don't look roughly right, there's an inquisition into them that takes longer still.


    Just put down what they really are IIWY.
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