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

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  • itchyfeet123
    itchyfeet123 Posts: 480 Forumite
    First Anniversary Name Dropper First Post
    Has anyone contacted the administrators yet? I know there's almost no likelihood of getting what I'm owed (Ombudsman-ordered compensation) but it's worth trying anyway. The Iresa website lists the names of the administrators and their company, and Google brings up a postal address, but I would have thought there was a dedicated email or something?
  • gadgetmind
    gadgetmind Posts: 11,130 Forumite
    First Anniversary First Post Combo Breaker
    Opening readings have to go via a convoluted industry path to be agreed, with various 3rd party checking in place, and new supplier has little more control than you. They can appeal so keep an eye on things.
    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.
  • firsttimemover
    firsttimemover Posts: 149 Forumite
    So I logged into my account last week and found out that the tariff they have put me on is the Economy 7 tariff.

    I have a 2 rate meter, but since moving in 5 years ago, with several different suppliers, I have always been charged at the standard rate, including with Iresa.

    I contacted Octopus to be told that I cannot change tariff until 21st August. I replied last Thursday asking if that is the case, can I be refunded the difference in costs, but they haven't come back to me. So much for award-winning customer service!

    Seen as I use less than 1 unit per day at night, this is going to be a lot more expensive than their already much higher prices (over 10% more on the unit rate and almost 6% more on the standing charge than their own standard rates, which is 50% more on standing charge and 45% more on unit cost compared to Iresa!!!).

    Does anyone know where I stand as they haven't moved me over on a like for like basis?

    Does anyone know if Octopus CAN charge two-rate meters at standard costs - I know some providers can't, or previously couldn't (I thought all providers had to offer this option now, but I might be wrong)? If so, I'm really not happy about being locked into these rates for a minimum of 42 days.
  • Skools_Out
    Skools_Out Posts: 258 Forumite
    First Anniversary Combo Breaker First Post
    firsttimemover wrote: »
    ...
    I have a 2 rate meter, but since moving in 5 years ago, with several different suppliers, I have always been charged at the standard rate, including with Iresa. ...

    Good to hear you managed to contact Iresa to get them to bill you at a single rate - I see you were often moaning that Iresa never responded or were impossible to contact.

    Sounds like it's probably cost you too, as in almost all supply regions with Iresa, E7 was lower cost than a single rate tariff, no matter how much you strived to keep the ratio of low/normal usage as low as possible.:cool:
  • molerat
    molerat Posts: 31,820 Forumite
    Name Dropper Photogenic First Post First Anniversary
    firsttimemover wrote: »
    Does anyone know where I stand as they haven't moved me over on a like for like basis?

    Does anyone know if Octopus CAN charge two-rate meters at standard costs - I know some providers can't, or previously couldn't (I thought all providers had to offer this option now, but I might be wrong)? If so, I'm really not happy about being locked into these rates for a minimum of 42 days.
    You are wrong, E7 is specifically excluded from the The Energy Market Investigation (Restricted Meters) Order 2016 which set out the rules regarding charging single rate for multi rate metering.



    Your meter by default is E7 and the supplier is not obliged to treat it other than that.
  • brewerdave
    brewerdave Posts: 8,507 Forumite
    Name Dropper First Anniversary First Post
    So the "01 AUG 2018Deemed (Settlement Registers) or Estimated (Non-Settlement Registers) reading" has vanished from my Iresa meter reads BUT they have added a credit to the Accounts page to allow for the difference between that mythical reading and my actual reading on the evening of the 31st!!
    They really are creating a mess -and my account is only leccy!
  • molerat
    molerat Posts: 31,820 Forumite
    Name Dropper Photogenic First Post First Anniversary
    edited 14 August 2018 at 10:40AM
    My daughter's deemed read of 64959.8 has changed to a customer read of 64959. The short bill has been calculated from the last read on 31 Jul to that 64959.8 read on 1 Aug and charged for 12.8 units and the SC for 1st. If they use this calculation it will result in an overcharge of around 31p as Octopus will use the 1st, the date they took over supply, to start charging SC and the whole number for the opening read. Along with Octopus dating that supplied read from 1st (as clicked in their drop down box) to the 4th this is turning into a right farce. I have about the same level of confidence in Octopus that I had with Iresa.
  • A.Penny.Saved
    A.Penny.Saved Posts: 1,832 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    I am glad that I jumped ship when I did to spare myself any of this hassle TBH.

    I hope that all who are affected by this can get it sorted out with as little time and effort as possible. Best of luck.
  • brewerdave
    brewerdave Posts: 8,507 Forumite
    Name Dropper First Anniversary First Post
    molerat wrote: »
    My daughter's deemed read of 64959.8 has changed to a customer read of 64959. The short bill has been calculated from the last read on 31 Jul to that 64959.8 read on 1 Aug and charged for 12.8 units and the SC for 1st. If they use this calculation it will result in an overcharge of around 31p as Octopus will use the 1st, the date they took over supply, to start charging SC and the whole number for the opening read. Along with Octopus dating that supplied read from 1st (as clicked in their drop down box) to the 4th this is turning into a right farce. I have about the same level of confidence in Octopus that I had with Iresa.


    My last actual read now appears 4 times on the readings page, twice for 31st and twice for 1st August -all as "customer own read":rotfl:You couldn't make it up!
  • firsttimemover
    firsttimemover Posts: 149 Forumite
    Skools_Out wrote: »
    Good to hear you managed to contact Iresa to get them to bill you at a single rate - I see you were often moaning that Iresa never responded or were impossible to contact.

    Sounds like it's probably cost you too, as in almost all supply regions with Iresa, E7 was lower cost than a single rate tariff, no matter how much you strived to keep the ratio of low/normal usage as low as possible.:cool:

    I'm not sure what I said to warrant the snippy reply! FYI, I never had a problem getting Iresa to move me over to standard rates - I requested standard rates and that is what I was billed at - the only "feedback" I gave on here (what I thought the feedback thread was for - to share feedback!) is that it took a few months to get a bill from them using the readings I provided. All worked out in the end and I don't once recall moaning - it worked in my favour as the credit balance built up and I was paid credit interest for. Other than that, once I started receiving bills, I was pretty happy with Iresa.

    Sorry if my sharing feedback as a way to help others that were in the same boat was seen as moaning.

    If I would have been better off switching to an E7 with Iresa, that's my mistake for not checking that out. I won't lose sleep over it now.

    Anyway, thanks Molerat for your insight, if that's correct, does anyone know if Octopus are a provider that usually offer this? It's a bit annoying that they've switched people onto a non-comparable tariff, but if that's the case, it looks like I might be stuck with it until I can switch away.
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