Should I stop paying DD to bust energy firm?

[Clarabellawilliamson]

My energy supplier went bust a few months ago and I was transferred to British Gas. I was told several times to keep paying my direct debit to my old company, which I have done and can see it there in my account (nearly £700 now). I know that eventually the money in that account will be transferred to BG but that could take months, and surely BG are going to want paying before then. I can't afford to keep paying my old direct debit AND cover the new bills in the meantime.

Should I cancel the old DD or will this cause problems later on?

Cancel it but keep money aside in a separate account so that when they eventually send you a final bill, you have the cash to had to cover it

Yeah- if I stop paying the direct debit I will have to make sure that money stays unspent!

I had this - our energy company went bust in October/November, we were transferred to Shell.
I left the DD running, in January the credit was moved over to Shell, they asked for a meter reading at around the same time and then automatically set up the DD to move to them. I didnt oay anyone twice in the same month.
I haven't had to call them or sit on hold trying to get through - just logged onto the new online account, submitted my readings and confirmed the new increased DD amount.

Maybe I should sit tight for a bit then? I keep seeing people say what their prices are going to be and I dread to think what ours will be!

My company went bust too and I imagine you, like me, will have been told to keep paying as you currently do.

It took months for me to be transferred over but it all went fine.

You can see the money is accumulating so it’s not in a black hole somewhere so just hold on a bit longer.

Once you are transferred you should get a welcome email telling you that your direct debit has been moved to them, the new company, as has your credit balance.

Meanwhile I’d put by the 50% extra we are all getting told our fuel bills will cost so you have it ready and don’t get into debt.

@Clarabellawilliamson

Maybe I should sit tight for a bit then? I keep seeing people say what their prices are going to be and I dread to think what ours will be!

You'll be put onto the SVR, so if you look at your average usage you should be able to calculate what your likely bill will be under the new price cap.

Well British Gas have just asked for £191 for February, so it looks like they ARE expecting me to pay twice! Good practice for October I suppose....

Now is probably the time to go back to BG and remind them about the large credit that has not yet been transferred over so they can take this into account when setting your DD.

If your old supplier went bust a few months ago (there was a glut around September, was it then?) then it should have all been sorted by now.

We went from Avro to Octopus and it all transferred over well before Christmas. If it's not sorted for you by now, it looks like something has gone wrong along the way.