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    • MSE Andrew
      Verified User verified user
    • By MSE Andrew Verified User verified user 14th Mar 18, 11:06 AM
    • 94Posts
    • 26Thanks
    MSE Andrew
    Add your feedback on energy supplier Usio Energy
    • #1
    • 14th Mar 18, 11:06 AM
    Add your feedback on energy supplier Usio Energy 14th Mar 18 at 11:06 AM
    This is a feedback thread on energy supplier

    Usio Energy Supply

    Please share your experience with other MoneySavers. Click reply to take part
    • Did your switch go smoothly?
    • Have you had problems since?
    • Is it easy to contact?
    The feedback comes as part of the

    Click reply below to discuss. If you havenít already, join the forum to reply.
Page 3
    • spike274
    • By spike274 15th Oct 18, 3:25 PM
    • 30 Posts
    • 14 Thanks
    spike274
    From Ofgem: "We’ll make a decision on a new supplier as soon as possible and will announce these details on our website. We’ll ask suppliers to bid to become the new supplier, so we can try and get the best possible deal for you in the circumstances. After we’ve chosen them, you will be moved onto a new contract with the new supplier. It should only take us a few days to appoint a new supplier. During this time, our advice is to sit tight, don’t switch and wait until your new supplier contacts you. This will make sure the process is as hassle free as possible for you, including securing the return of any outstanding credit balance you may have. Once you have been contacted by your new supplier, you should ask them to put you on their cheapest deal or shop around if you are not happy with them. You won’t be charged exit fees."

    From last weeks MSE email: "Let me be blunt. It's too late to bag this winter's cheapest energy deals. We've constantly nagged about cheap switcher tariffs being pulled, mostly on the back of big oil price rises. In early Sep, someone with typical use could lock in a cheap fix for £867/yr, now it's £1,005/yr - an unprecedented 16% monthly rise."

    Just checked www.energyhelpline.com and the current cheapest deal is over £140 more that our deal with Usio
    • The_Bloodster
    • By The_Bloodster 15th Oct 18, 3:56 PM
    • 316 Posts
    • 267 Thanks
    The_Bloodster
    Another one bites the dust. Usio have gone under.

    My DD was jut cancelled, so quickly checked their website to get in touch to find out why, and saw this...

    USIO energy supply limited has ceased to trade. Ofgem, the energy regulator, is appointing a new supplier for its customers. Customers need not worry, their supplies are secure and credit balances are protected. Ofgem's advice is not to switch, but to sit tight and wait until the new supplier has been appointed. This will help make sure that the process of handing customers over to a new supplier, and honouring credit balances, is as hassle free for customers as possible. Customers can find support and advice on the Ofgem website. Or alternatively if they need additional support they can call Citizens Advice on 03454 04 05 06 or email them via webform, or get in touch through Ofgem's facebook or twitter feed @ofgem
    Originally posted by theyiddo

    Yeh I just the exact same thing. I checked my email and saw an email it said my subscription had been cancelled so I thought better check the website as I thought it was a mess up as I had just moved to them on 23rd Sep. There I found the same message as you.


    I might be a curse. I was only with GB Energy a month before they went bust too.
    Last edited by The_Bloodster; 15-10-2018 at 3:57 PM. Reason: Missed detail

    • The_Bloodster
    • By The_Bloodster 15th Oct 18, 3:59 PM
    • 316 Posts
    • 267 Thanks
    The_Bloodster
    Just checked www.energyhelpline.com and the current cheapest deal is over £140 more that our deal with Usio
    Originally posted by spike274

    I was with GB Energy last year and when Co-op energy took over the customers they honoured the deals that customers were on so hopefully it will be the same in this case

    • gadgetmind
    • By gadgetmind 15th Oct 18, 4:39 PM
    • 10,872 Posts
    • 8,790 Thanks
    gadgetmind
    7k customers will have been unlikely to have been covering their fixed costs even if they ran a very tight ship.

    But it's odd they've gone at this time of year rather than after a bad winter, and also odd as after their pulled crowd funding they said they had a financial backer.

    I'll try and do some digging.
    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.
    • Rose Crow
    • By Rose Crow 15th Oct 18, 4:52 PM
    • 381 Posts
    • 1,173 Thanks
    Rose Crow
    Also joined Usio a couple of months ago. Due a smart meter fitting on Weds so not sure whether to cancel it? Not used a small company for energy before and this has put me off somewhat.
    • paulpa66
    • By paulpa66 15th Oct 18, 5:09 PM
    • 50 Posts
    • 6 Thanks
    paulpa66
    Photograph your meter readings today so you have proof of it
    • paulpa66
    • By paulpa66 15th Oct 18, 5:10 PM
    • 50 Posts
    • 6 Thanks
    paulpa66
    7k customers will have been unlikely to have been covering their fixed costs even if they ran a very tight ship.

    But it's odd they've gone at this time of year rather than after a bad winter, and also odd as after their pulled crowd funding they said they had a financial backer.

    I'll try and do some digging.
    Originally posted by gadgetmind
    But usio had no fixed contract, i doubt they will honor those prices
    • gadgetmind
    • By gadgetmind 15th Oct 18, 6:30 PM
    • 10,872 Posts
    • 8,790 Thanks
    gadgetmind
    But usio had no fixed contract, i doubt they will honor those prices
    Originally posted by paulpa66
    Sorry, by fixed costs I meant all of their overheads, such as software, staff, rent, and much much more.

    But assuming they charged customers a fixed amount per month on direct debit, at this time of year they should have been rolling in it due to people having paid more than their consumption would consume for many months.

    Anyway, let's see.
    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.
    • beefturnmail
    • By beefturnmail 15th Oct 18, 9:14 PM
    • 757 Posts
    • 241 Thanks
    beefturnmail
    Just found this out having received an e-mail to say my dd had been cancelled. Taken a photo of both meters and in shot a phone showing today's headline and date. I too can't understand how this can have happened at this time of year - they should have loads of cash especially as the take the dd in advance. I'm about £110 in credit.


    Can anyone here who's had experience of this comment on what happens next - did you get all your money back and how long did it take? For how long a period were you billed at an unfavourable rate (I presume that in the interim we will all be put on a 'standard' tariff (not sure of correct terminology), similar to when you move into a new property?
    • blazer666_uk
    • By blazer666_uk 16th Oct 18, 7:20 AM
    • 18 Posts
    • 0 Thanks
    blazer666_uk
    I am a USIO customer I have yet to have the smart meter installed, so what happens to me? I have been waiting nearly 3 months for the install. How do they know what my previous readings were?

    Also do I change suppliers myself or wait as OFGEN has said?
    • wavelets
    • By wavelets 16th Oct 18, 7:49 AM
    • 693 Posts
    • 290 Thanks
    wavelets
    Just found this out having received an e-mail to say my dd had been cancelled. Taken a photo of both meters and in shot a phone showing today's headline and date. I too can't understand how this can have happened at this time of year - they should have loads of cash especially as the take the dd in advance. I'm about £110 in credit.


    Can anyone here who's had experience of this comment on what happens next - did you get all your money back and how long did it take? For how long a period were you billed at an unfavourable rate (I presume that in the interim we will all be put on a 'standard' tariff (not sure of correct terminology), similar to when you move into a new property?
    Originally posted by beefturnmail
    Don't worry, your money is safe

    Ofgem will identify a new supplier as soon as possible - it should only take a few days. I would fully expect news on this by the weekend if not before.

    The new supplier will contact you shortly thereafter. You will be on a deemed tariff i.e. one you have not expressly agreed to. It will have no early exit fees.
    The deemed tariff may or may not be the usual deemed tariff of the supplier selected, which would typically be their standard variable tariff.

    Ofgem will announce when you officially become a customer of the new supplier. Watch this space as I'm sure it will also be posted on here

    Once you are contacted by the supplier, who will give ytou details of the tariff you are on, you can either ask them to put you on another tariff they have (if any - beware as anoy=ther tariff may incur early exit fees) or you can then switch to another supplier & tariff .

    A transfer of tariff with the same supplier can often be done whilst you are on the phone to them, or within 24hrs at the longest. It may be that if you contact the supplier at the earliest opportunity, they may even backdate the requested tariff to the day you officially join them.

    A switch of supplier will take at least 17 days from application, and may take as long as 5 weeks.

    However, the difference in price for say 6 weeks at worst (allowing 1 week to be informed of new supplier) is probably going to be negligible and may be sweetened by cashback for switching

    The hit will be the loss of the favourable rates Usio customers were previously on.
    • wavelets
    • By wavelets 16th Oct 18, 7:55 AM
    • 693 Posts
    • 290 Thanks
    wavelets
    I am a USIO customer I have yet to have the smart meter installed, so what happens to me? I have been waiting nearly 3 months for the install. How do they know what my previous readings were?

    Also do I change suppliers myself or wait as OFGEN has said?
    Originally posted by blazer666_uk
    https://forums.moneysavingexpert.com/showpost.php?p=74780609&postcount=279

    You would have supplied meter readings to Usio when you joined them (or if you didn't, they would have already been estimated)

    I suspect you won't be getting the smart meters you were expecting Usio to arrange installation of. (which is probably a good thing as they probably wouldn't work as smart meters with your new supplier anyway ) If you still want smart meters, you will need to ask your new supplier.

    You are aware of the advice Ofgem has provided
    Last edited by wavelets; 16-10-2018 at 8:17 AM.
    • theyiddo
    • By theyiddo 16th Oct 18, 8:22 AM
    • 68 Posts
    • 36 Thanks
    theyiddo

    Just checked www.energyhelpline.com and the current cheapest deal is over £140 more that our deal with Usio
    Originally posted by spike274

    I wish...mine is set to increase by at least £260!

    • wavelets
    • By wavelets 16th Oct 18, 8:43 AM
    • 693 Posts
    • 290 Thanks
    wavelets
    I wish...mine is set to increase by at least £260!

    Originally posted by theyiddo
    Of course, any price difference will depned on your supply region, how much you use, and what tariff you are currently on.

    If you are on a fixed traiff you agreed sometime ago, it may cost you £260 per year more, but you must remember that you probably wouldn't have 12 months left to run on the tariff.

    Looking at a recently available tariff, such as Smart 5.4 with an expiry of October 2019, then there are currently tariffs available that are very closely matched to those costs.
    • theyiddo
    • By theyiddo 16th Oct 18, 9:19 AM
    • 68 Posts
    • 36 Thanks
    theyiddo
    Of course, any price difference will depned on your supply region, how much you use, and what tariff you are currently on.

    If you are on a fixed traiff you agreed sometime ago, it may cost you £260 per year more, but you must remember that you probably wouldn't have 12 months left to run on the tariff.

    Looking at a recently available tariff, such as Smart 5.4 with an expiry of October 2019, then there are currently tariffs available that are very closely matched to those costs.
    Originally posted by wavelets

    ...afraid not for me. Just double checked mine - as I keep a spreadsheet of available tariffs to work out the best for me - and the cheapest (British Gas of all people!) is £232 a year more than my tariff with Usio. So yes, I would still have expect to pay more anyway in 7mths or so at current rates- but who knows what the tariffs would be in 7mths time. So at the very least I'll be paying £135 more just for those remaining 7mths of my contract.
    Last edited by theyiddo; 16-10-2018 at 9:23 AM.
    • beefturnmail
    • By beefturnmail 16th Oct 18, 9:37 AM
    • 757 Posts
    • 241 Thanks
    beefturnmail
    Will we be billed at the Usio rate up to the point they went bust? I joined in July, and have never had a bill from them, just supplied an opening reading when switching
    • wavelets
    • By wavelets 16th Oct 18, 12:27 PM
    • 693 Posts
    • 290 Thanks
    wavelets
    Will we be billed at the Usio rate up to the point they went bust? I joined in July, and have never had a bill from them, just supplied an opening reading when switching
    Originally posted by beefturnmail
    Yes, you can expect to pay the rates you contractually agreed with Usio for the energy Usio supplied you.
    • beefturnmail
    • By beefturnmail 16th Oct 18, 12:32 PM
    • 757 Posts
    • 241 Thanks
    beefturnmail
    Thanks all,

    It's annoying, but I suppose no more of a financial hit then if they had simply raised their prices (which they could have done as I didn't take a fixed rate deal)
    • wavelets
    • By wavelets 16th Oct 18, 12:38 PM
    • 693 Posts
    • 290 Thanks
    wavelets
    ...afraid not for me. ...
    . So yes, I would still have expect to pay more anyway in 7mths or so ...
    Originally posted by theyiddo
    I'm sorry. I'm confused.
    Which part of my post that you quoted were you saying "...afraid not for me."


    but who knows what the tariffs would be in 7mths time. ....
    Originally posted by theyiddo
    No one knows for sure, but prices are generally on the up at the moment.
    MSE suggest people even grab a fix at this late stage (although most of the cheap deals have already been removed). Based on the recent MSE collectives switches, MSE even suggests fixing for longer than 12 months (i.e. 18 months or longer), which probably signifies where they think the market will be in 12 months time, let alone in just 7 months time.
    • Shelley84
    • By Shelley84 16th Oct 18, 8:29 PM
    • 235 Posts
    • 262 Thanks
    Shelley84
    I understand the advice to current customers, however I am mid switch from Eon to Usio. I started the process at the end of September and my first DD is due on the 29th Oct. I think they officially start being my supplier on that day.
    I'm not technically a customer of theirs yet. Will the new supplier still carry on switching me over to them? Or do I look for another provider?
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