Economy Energy
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Very poor, unlawful and dishonest...
Joined in May 18, smooth cutover process. As a result of the 2month pre pay was running a high credit balance by August, tried calling to refund however was refused on the ground that they will only return money if your credit balance was 4x direct debit amount. Mine was about 3.8x. Received email 40minutes after midnight on the day direct debit for September was taken increasing unit rates by 43%. Called to question and also raised credit balance, was advised my only route to return credit balance was to switch suppliers. Did this days later and cancelled direct debit with bank. This left me with large credit balance to be refunded. They called me a few days before cutover asking for a meter reading stating this would make final bill easier, I duly provided. I later discovered this had the opposite effect, this resets the billing cycle clock and the result was six weeks delay to provide final bill during which period the account is frozen (no refund). On completion of final bill (6weeks after leaving) I called to request refund, was told this takes 28 days, no reason for this was provided. 28 days passed and despite tens of calls before and after no refund was received. Wrote letters, sent emails, threatened court action. Eventually frequent email complaints to social at economyenergy.co.uk resulted in refund being paid 3months after service end date. I conclude economy energy are on the verge of collapse, their unlawful practices couldn't surely be the basis of a functioning business model in a supposed regulated industry. I note today's news that they are now prevented from taking on new customers or raising addtional cash through dd increases. Unfortunately although good news for unsuspecting potential customers I think this is bad news for those awaiting refunds, without the ability to raise income and a well known cash flow shortage I don't think EE will last much longer.