kanga wrote:Former VP Gore's company is investing in Octopus
Miscellaneous wrote:I'd rather not have the need to call and if I do, the phone is answered with the enquiry being dealt with without the need for lengthy holds. Remember those days?
Our big message though is DON’T PANIC… this shouldn't be a hassle, your gas and electricity will stay on and any credit balance you have is safe.
Here's how the process works and what you need to do:
1. Take a meter reading. This is so your new supplier knows how much you used with your old supplier. Take a photo of it so you have evidence, if needed.
2. You will be automatically moved to a new supplier. Energy regulator Ofgem will now choose a 'supplier of last resort' to take over your account in the next few days, and it should port you across as soon as possible. In recent times, people have been moved to big firms including Octopus, British Gas, EDF and Shell.
3. Don't switch to a new provider (yet). While it is possible, Ofgem says you should wait until you've been contacted by the new supplier and your new account has been set up, so you avoid the risk of getting stuck between databases and left in the cracks.
4. You'll likely be moved to a tariff that follows the energy price cap. While this is likely more than you have been paying, right now there are no meaningfully cheaper deals you could switch to. And if you did want to switch, you'll be paying a premium of about 25% over the price cap if you want a fix. This cap will last until 1 April 2022, so view it as a six-month fixed rate, which you have the freedom to leave whenever you want (hopefully because cheaper deals return).
Any credit is protected, and any debt still needs to be paid
You will be able to get your credit back from the new supplier, and equally if you're in debt, you'll still need to pay that – either to the new supplier, or an administrator if one is appointed.
You don't need to cancel your direct debit
Ofgem says there's no need. The new supplier will contact you shortly to discuss your current direct debit arrangements, and exactly how it will take on your account. However, you can cancel your direct debit now if you want, as you'll be able to set up a new direct debit with the new supplier.
PeteSpencer wrote:I have vowed never to switch suppliers again unless forced into it by circumstances such as the present .
Colonel Panic wrote:Within ~60 minutes of submitting a meter reading to Green.energy I received a "welcome" email from the profoundly un-green Shell Energy saying that I was now a customer of theirs, and had been put on their standard variable rate. I was surprised at how quickly it all happened.
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