@filbert16 I'm hoping that if one good thing comes out of ExEn's collapse it's that people are jolted into taking an active interest in how the businesses they've financially invested in handle themselves. I bet London Capital and Finance creditors wish they had...
Because of the way the energy market is structured in the UK, any credit you had with ExEn HAS to be honoured - that's been made clear by Ofgem and agreed by Scottish Power. As licenced members of Ofgem, ExEn were folded into the group and covered by the safety net everyone's talking about. I can't see how Ofgem could, or WOULD want to squirm their way out of that promise, or let SP slip out. However...
Scottish Power's bid to take ExEn's customer's made a pledge to 'honour' credit balances, not 'repay' or 'refund' - I think that's an important distinction to make. It gives SP the option to repay those credits in cash if they want, or just to apply a credit of their own to on-going bills. There was no time-scale stipulated to 'honour' that I'm aware of either. When you combine that realisation with the cynical outlook that SP's decision to go all-out for ALL ExEn's customers HAS to have been a business decision, (as opposed to a charitable one) you can only come to the conclusion that SP hoped to cover their losses by keeping as many ExEn customers as new SP accounts as possible - but did not have to bank on it, because...
... of the SOLR process, which gives Ofgem the right to impose a levy on ALL energy providers in the group to pass on to the SOLR to cover the losses they would undoubtedly incur by having to take on such a huge number of new customers and credit claims. As SOLR, SP pledged to 'minimise' (another weasel-word) their expectation of Ofgem payment so where else would they be expected to get the money from to cover their inevitable losses? 'Minimise' just means 'as little as possble' - it doesn't mean any specific amount. When Octopus took over Iresa's customers they eventually got £13 million. For every ExEn customer who leaves SP having not contributed to SP's costs, that SOLR payment could go up. That's SP's safety net.
The upshot of it is, SP can't stop you switching to another provider. If you do switch, you still have a claim on your ExEn credit, and will get it, but how much actual value it will be to you depends on how long you're paying those higher tariff rates. You might get a £500 refund cheque (if that's what your credit balance is) in the autumn, but if you don't get on a more appropriate tariff quickly, you may have paid £501 more than you would have in the mean-time. When you get it is likewise, down to when SP deem to pay it - they said they would, but didn't say when. But then, they didn't say when they would apply bill credits either.
I feel exactly the same as everyone and you cannot get a straight answer from SP.
I was always in credit with EE and cannot get the final account from SP despite asking them several times and them promising. The transfer over tariff is poor but I wonder if will it be cheaper in the long run to just move to a cheaper provider and cut your losses but is that what they are hoping after nearly 6 months of waiting
I think SP should make a statement to all EE customers as to when this sorry state of affairs will get resolved
Have decided to cut my losses and switch but have still tried to find out if my finally bill will take into account my credit with EE .SP operater couldn’t give me an answer and tried to persuade me to stay with them no chance he then put me on hold while he said he would try to help 20 mins later I hung up customer service diabolical my new supplier has sent me at least 6 emails keeping me updated what’s happening and if SP charge me for leaving they will reimburse me
I too didn’t print off previous bills as wrongly assumed I would be able to call up past ones stored on line so I can’t be exact on anything that’s owed or even the accuracy of the base line meter readings that SP started from. But I’ve decide to take control and go to a different and cheaper provider and cut my losses. Feels so much better to take charge of it all myself! Shame on you SP.
@borisc @Feduplots I don't know if this would work, but have you considered a Subject Access Request under GDPR2018 directed at either SP or PWC asking for specifically that information? The SAR is straight forward to submit and so long as you don't make any 'unreasonable requests' is supposed to be free to do too.
Look up The Information Comissioner's Office online - there are instructions on there how to submit a SAR and the other company is bound by legal regulations to respond within a month.