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

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  • brewerdave
    brewerdave Posts: 8,499
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    I suspect that the directors of Octopus will be getting quite depressed today - the email that they have sent out to Iresa customers gives 4 options for your future utility arrangements - any bets that the vast majority will plump for options 3 and 4? ie move away from Octoplus as soon as possible:)
  • AdrianC
    AdrianC Posts: 42,189
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    TBH, even if they retain a quarter - 25k customers - they're probably happy.

    They're far from the cheapest for me, but in the top few. Given that I'm looking at a hefty price hike anyway, I could be tempted...
  • brewerdave
    brewerdave Posts: 8,499
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    edited 2 August 2018 at 8:35AM
    AdrianC wrote: »
    TBH, even if they retain a quarter - 25k customers - they're probably happy.

    They're far from the cheapest for me, but in the top few. Given that I'm looking at a hefty price hike anyway, I could be tempted...


    Since the vast majority of Iresa's customers were only with them for rock bottom prices,I would be VERY surprised if Octopus keep more than a few hundred after the dust settles; I was only with Iresa for electricity but Octopus's tariff would see increases of ~ £160pa :eek:.
    Just hope some of the current (much)cheaper tariffs are around when they confirm my "switch" is complete.
    The timescales given in the email from Octoplus are frankly outrageous - being stuck with them for a month is ~ £14 down the drain!!:mad:
  • darren72
    darren72 Posts: 1,288
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    I have also today (2nd August) received an e-mail from Iresa stating:

    "This is to inform you that we have now received your final meter reading for ELECTRICITY supply. This reading will also be your opening read with your new supplier."

    This must be tied in with the error as it was already finalised in December when we left.
  • castle96
    castle96 Posts: 2,882
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    GB (£41) to Iresa £41 to Octo!!!!! (was to be £54).

    Tried switching sites, but best site seems to be
    https://energycompare.citizensadvice.org.uk/

    totally independent and whole of market !
    Outfoxthemarket - £41


    small set up again, but who knows the future. Will wait til Oct sort things out then switch
  • macman
    macman Posts: 53,008
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    jazzy wrote: »
    Looking for advice?
    I took the plunge and found a new electricity supplier soon as I received the news Iresa had stopped trading. I was in credit with Iresa by just a few pounds and there were only a few months left with my Iresa contract.

    My new supplier is Enstroga and they have arranged for my new contract to start from the 20 August and I have set up a direct debit account for the payments. Reading the information from Octupus Energy is suggesting that any new contracts with alternative suppliers will fail, is this correct? If so should I contact Enstroga and cancel the contract that I have set up? and if so will I be subject to an exit fee?

    No, because you are still in the cooling-off period. Cancel and wait to be switched to Octopus.
    No free lunch, and no free laptop ;)
  • macman
    macman Posts: 53,008
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    darren72 wrote: »
    We've received the e-mail saying that we are being switched to Octopus from Iresa, but we switched away from Iresa at the beginning of December (8 months ago).

    I assume they are not going to try and switch us from our current supplier ?

    I'm guessing that this is down to errors in the database from Iresa that Octopus are working from.
    No free lunch, and no free laptop ;)
  • macman
    macman Posts: 53,008
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    brewerdave wrote: »
    Since the vast majority of Iresa's customers were only with them for rock bottom prices,I would be VERY surprised if Octopus keep more than a few hundred after the dust settles; I was only with Iresa for electricity but Octopus's tariff would see increases of ~ £160pa :eek:.
    Just hope some of the current (much)cheaper tariffs are around when they confirm my "switch" is complete.
    The timescales given in the email from Octoplus are frankly outrageous - being stuck with them for a month is ~ £14 down the drain!!:mad:

    Given the undoubted mess that Iresa's accounts and admin were in, I think they've achieved quite a lot in 4 days. Assuming that much of Mr Oladeji's data has been filed behind the radiators, 3/4 weeks to transfer everything over seems a tad optimistic, and I believe that Octopus have no more than 20 staff working on it.
    No free lunch, and no free laptop ;)
  • AdrianC
    AdrianC Posts: 42,189
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    castle96 wrote: »
    Tried switching sites, but best site seems to be
    https://energycompare.citizensadvice.org.uk/
    I'd not come across that one, thanks. We have a new leader - the Co-op... Only 10% above Iresa for me...
  • gadgetmind
    gadgetmind Posts: 11,130
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    A lot of the switching sites are dropping the whole of market, which Ofgem now allows as long as they link to the Citizen's Advice site. That site really does need promoting more heavily!
    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.
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