I'm amazed at the time past since Scottish Power took over. Prior to Extra Energy I was with GB Energy who also went under. I was switched to the Co-Op and the credit was transfered within two months! Like most people here I was £100's in credit with Extra. Scottish power just aren't doing enough to keep people informed !... Off to Uswitch now...
Its unbelieveable. Apart from the email to say they have taken ExEn's customers, I have had nothing from SP whatsoever.
Even after a complaint about various things including the lack of contact (just to put peoples minds at rests that their credit balances are safe), they apologised but did nothing at all to give updates to people. Even 1 email a month saying everyones cash is safe and it's still taking longer than expected.
I initiated a switch and heck, although automated messages, they have sent 4 emails and 1 text message about the switch.
It just shows what a shady company SP is. Doesn't care about customers, doesn't care about putting peoples minds at rest about their hard earned money, yet as soon as they have had enough and switch, SP start sending stuff like 'sorry to see you go' and 'you can contact us to stop the switch if you change your mind'.
Whoopee! Got an email today - says the money that's owed to me has been credited to my account. 'Sorry its taken so long' they say - and so am I!
Would have thought that a small token - just a tenner say - as a gesture to underline the apology would be appropriate. After all they had the benefit of our custom throughout the winter heating season at higher prices than we were paying previously and such a gesture might have persuaded us to stay with them. But we get tiddly squat, just an apology and a smile. Well thanks very much OFGEM + Scottish Power - I'm now going to vote with my feet ahead of autumn - and I'll claim a refund of the cash in our account ahead of that.
@Raymond Just so you know - a proportion of the ExEn credit you've just received HAS been paid by Scottish Power. Not all of it has come from your defunct energy cowboys. And considering you would have got that free handout from SP whether you stayed with them or left at the earliest opportunity last year like so many other people did, shows a marked lack of gratitude in my opinion.
Many, many people left SP as soon as they could, and they'll be getting their ExEn credit - and their free SP cash - back as a cheque, presumably to spend on hats...
That's not my understanding - I may be wrong but I thought that OFGEM underwrite any shortfall in funds when a supplier fails, and the money comes from a levy that is paid by all energy users collected by OFGEM - i.e. OFGEM underwrite the deal. Is that not so?
I can't believe that SP took over responsibility for EE's accounts and agreed to make up any EE shortfall themselves - that would have amounted to an unknown liability.
What I can say with certainty is that I have received a refund of the surplus that was residing in my account when EE pulled out - I have checked my meter readings and my last EE bills and the refund is exactly right. This includes the monthly DD amount paid on the day that EE disappeared. What I am saying is that SP have not paid anything more than I was owed.
Given the undue delay in refunding what was due and the fact that I also made good my account with EE during an expensive winter heating period finding that I was £500 in debt - I am somewhat miffed that we customers have have not been offered something as a gesture of good will.
Just seen also that my tariff reverted to Standard Variable - the most expensive available w.e.f. 1st June - time to be off to a supplier who may appreciate my custom. What's for sure is that SP have done nothing to tempt me or other ex-EE customers to stay with them - so short sighted!
@Raymond You’re partly right, but the levy fund arrangements go deeper than that – in fact the whole SoLR process goes deeper than the words ‘safety net’ suggest.
I’ve been saying for a long time that the real villains in this piece are Ofgem – them and the former ExEn customers who had a debit balance. It’s debateable, I admit, but if ExEn hadn’t had so many customers in debt, they probably wouldn’t have gone bust in the first place.
I suspect the origins of the SoLR process sit in the logistical problems of disconnecting so many customers connected to a national power grid, when those customers are not even geographically related – an issue created by privatisation. If the energy firm has gone bust, who will pay those engineers, for a start? The people who they’re they cutting off? So to pre-empt that, Ofgem allows all customers to continue supply while they basically, put their business out to tender, and of course, a tender means bids of varying offers.
It’s all in Ofgem’s press release of Jan 17th 2019. You can find and read it on their website, it’s all there in the ‘decision letter’ section – ‘Use of the Industry Levy’. Scottish Power’s bid offer not only promised to ‘honour’ existing domestic customers’ credit balances (not repay, mind – ‘honour’) but commercial customers’ too, AND former ExEn customers who had left ExEn before they went bust, but had still not received their refunds, AND customers who subsequently left SP with an ExEn credit balance still owing. Undoubtedly the clincher for Ofgem was that SP also promised:
“Scottish Power proposed to make a substantial contribution toward covering credit balances, thereby claiming the least through the levy overall and minimising costs to all consumers.”
The alternative would have been a higher claim on the levy with a greater impact across the whole sector. Including me, every customer with every other supplier, and everyone who posts on here. The only other alternative to THAT, would have been what usually happens to creditors when a business goes bust. They tend to lose everything.
It’s great that your balance worked out right and that you got it all back – you have PwC to thank for that (and the 6 month wait) – but your credit refund is made up of three elements: a) what little cash of yours was left in ExEn’s accounts when the administrators were finished paying HMRC, b) a contribution from Scottish Power paid out (almost undoubtedly) in a calculated gamble to win 108,000 customers in one fell swoop, and c) a ‘minimised’ top up from the levy.
Yes, if SP hadn’t given you a contribution from their pocket, it would have been made up by a bigger wedge from the levy. But they did. Just because you don’t like it doesn’t make it not true.