Gas And Electricity

[jennyjoan]

I know a person who is about £1,000 credit with above. What happens if these companies fold up. mad I know.

[calmck]

The money will be transferred to the account with the new company

[jennyjoan]

thanks Cal - that's good to know.

[Hopkirk]

£1000 in credit? Madness.

[Buenchico]

Info for Jennyjoan:
https://www.ofgem.gov.uk/information-consumers/energy-advice-households/what-happens-if-your-energy-supplier-goes-bust

>>> £1000 in credit? Madness

I like to build up a really big credit balance around this time of the year, Hopkirk. It means that, if it gets really cold during the winter, I can turn my heating up without having to worry about whether I'll have enough money to pay for it.

[Hopkirk]

I wouldn't build one that big though, particularly with a small vulnerable company.

I know they say you get it back, but I wouldn't trust the system to deliver.

[youngmafbog]

I'm over 1K in credit with mine. It's not madness as firstly its my buffer built up from the summer and secondly they pay me far morem interest than the Bank

[Hopkirk]

I didn't know any of them paid interest. I still wouldn't risk it

[Bobbisox1]

I’m in credit with mine but how on Earth can anyone be £1,000 in credit, ???

[jennyjoan]

mad as a bloody hatter Bobbs.

[Bobbisox1]

Did they use any appliances like washing machine or cooker ? The only reason I’m in credit is with the heating as we’ve had a relatively warm if not sunny Summer

[jennyjoan]

that;s probably why it did build up - not a cooker and absolutely no washing machine - beats me too!!! but keeps on paying every week even tho there is enough on the account. I know what I would do with £1000

[Bobbisox1]

Me too,I’d go back to my second happy place ,Lanzarote JJ :0))

[jennyjoan]

Last time I was abroad was in Fuerteventura and never again will I be back, that was 2008. I slipped on water, broke two teeth, my shoulder and an ankle. Plus I hated Fuerty - apartment was stinking.

[Bobbisox1]

Ohh not good, I’ve never been there although I could go via a ferry trip from Lanzarote but I’ve never fancied it JJ