Green Network Energy - ?

rosiege
rosiege Posts: 6
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edited 24 August 2017 at 10:01AM in Energy
Has anyone had any experience of Green Network Energy to provide gas and electricity? they have a very good deal but I'm a bit concerned that they don't appear on any of the comparison sites I've seen - apart from one which only supported one of their tariffs. they seem to have very good reviews.



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Hi, if you're joining the Forum from Google you may also like to read this dedicated Green Network Energy discussion.
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  • I would check the history of this company at Companies House
    https://beta.companieshouse.gov.uk/company/09523066/filing-history

    Company liabilities are MINUS £263,666 and they have only filed 1 return.
    Number of shares issued is 1 with a value of £1
  • footyguy
    footyguy Posts: 4,157
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    gsmlnx wrote: »
    I would check the history of this company at Companies House
    https://beta.companieshouse.gov.uk/company/09523066/filing-history

    Company liabilities are MINUS £263,666 and they have only filed 1 return.
    Number of shares issued is 1 with a value of £1

    To be fair, the last accounts filed were made up to 30-Apr-2016.

    I don't think they launched in the UK until December 2016
  • System
    System Posts: 178,077
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    gsmlnx wrote: »
    I would check the history of this company at Companies House
    https://beta.companieshouse.gov.uk/company/09523066/filing-history

    Company liabilities are MINUS £263,666 and they have only filed 1 return.
    Number of shares issued is 1 with a value of £1

    I think that they have an influential and significant backer.

    Green Network Energy, the British subsidiary of the Green Network Group, and BP Gas Marketing Limited have signed an exclusive collaboration agreement governing the U.K. market. BP plc, formerly British Petroleum, is a British oil and gas multinational operating in the field of energy. BP is one of the world’s seven oil and gas "supermajors", a vertically integrated enterprise, operating in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation, trading and renewable energy. BP is present in over 70 countries, it produces about 3.3 million barrels of oil equivalent per day and owns proved reserves of 17.180 million barrels of oil equivalent.

    No worries there then except for the fact that they are not the cheapest on the market (accepting differences in usage and postcode).
  • footyguy
    footyguy Posts: 4,157
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    edited 12 February 2017 at 7:23PM
    rosiege wrote: »
    Has anyone had any experience of Green Network Energy to provide gas and electricity? they have a very good deal but I'm a bit concerned that they don't appear on any of the comparison sites I've seen - apart from one which only supported one of their tariffs. they seem to have very good reviews.

    Welcome to MSE :hello:

    Where have you seen the "very good reviews"?

    Where did you see the "very good deal" if not on a comparison site?
    Be careful of their own website which seems somewhat 'flakey'

    When I do a dual fuel comparison on their site, I cannot enter my existing gas supplier (Zog) for some reason (but they are there if I do a single fuel comparison)

    When I look at the standing charges and unit charges, they seem similar, but slightly higher, than a Scottish Power tariff

    Then I need to take into account the discounts.
    I think Scottish Power offer a total of about £15 (dual fuel & online)

    If I give this supplier the benefit of the doubt and allow £31.50 dual fuel discount (£15.75 per fuel)

    So lets say, at best, they would be £15 cheaper than SP

    So, I was somewhat confused how they are offering an indicated annual price £50 cheaper than SP

    I've tried working out the price myself based on their tariff, and I calculate it's actually £60 more than they are quoting, which is £10 more than the SP tariff.
    (I have taken the SP cost from the CEC comparison site)

    I suggest if you are interested in this supplier, do your own calculation of the anticipated annual cost (and hence the monthly DD payment) based on their tariff as advertised - you may not find it as cheap as they suggest.
  • Thanks for your replies, this doesn't encourage me very much. To be honest the good reviews were on their website (!), which I agree is not as slick as some, but seemed genuine. but doesn't everything?!

    I saw the deal when I searched using the Energy Helpline, which is also used by the Telegraph and Guardian and approved by Ofgem. It was the first on the list and offers a saving of £146 p.a., slightly higher than GNE's website. They listed three different tariffs by GNE but only allowed access to one of them which was a bit more expensive.

    It's true, I should probably work out the exact cost, if I'm able to do that using the tariff - I'll give it a try. Thanks so much that's really useful..:)
  • Maybe I'm being stupid or not very up on these things, but what is the CEC comparison site?
  • Raxiel
    Raxiel Posts: 1,398
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    rosiege wrote: »
    Maybe I'm being stupid or not very up on these things, but what is the CEC comparison site?

    That's Money Saving Expert's own 'Cheap Energy Club'

    https://www.moneysavingexpert.com/cheapenergyclub
    3.6 kW PV in the Midlands - 9x Sharp 400W black panels - 6x facing SE and 3x facing SW, Solaredge Optimisers and Inverter. 400W Derril Water (one day). Octopus Flux
  • Ah, thank you, of course! I will have another look at that.
  • rosiege wrote: »
    Thanks for your replies, this doesn't encourage me very much. To be honest the good reviews were on their website (!), which I agree is not as slick as some, but seemed genuine. but doesn't everything?!
    I saw the deal when I searched using the Energy Helpline, which is also used by the Telegraph and Guardian and approved by Ofgem. It was the first on the list and offers a saving of £146 p.a., slightly higher than GNE's website. They listed three different tariffs by GNE but only allowed access to one of them which was a bit more expensive.
    It's true, I should probably work out the exact cost, if I'm able to do that using the tariff - I'll give it a try. Thanks so much that's really useful..:)

    I also put their tariff data into a spreadsheet for comparison with others and came to contradictory results. In fairness it was possibly my fault for confusing two different tariffs, of which for me the most favourable one The Italian Touch was not available via the Energyhelpline switch. And the fact that I omitted the dual fuel discount 2 x £25 by mistake / ignorance. I am now inclining towards taking the TIT from GNE direct unless some unfavourable reports come to light.
    Telegraph Sam
  • jimroy
    jimroy Posts: 151
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    edited 10 April 2017 at 12:31PM
    I'm seriously thinking of switching to these guys in a month's time.
    I'm a CEC member also and they're currently the cheapest supplier for me to switch to. I'll be keeping tabs if that's still the same in a month obviously.
    I'll be paying £7 more per month with them. But I'll be paying double that more a month when my fixed tariff ends with my current supplier.
    Anyway, I've been researching Green Network Energy and came across this link today:
    [I've been awarded a 2 year badge and still can't post links?!]
    If you do a search for 'Cerved Rating Agency S.p.A. has confirmed the B1.1 public rating for Green Network S.p.A.' it gives an indication of how healthy this company is going forward. It was posted five months ago I gather; so pretty recent.
    I'm currently with GB Energy Supply (cough) and it's all gone relatively smoothly since they went bust and now controlled by Co-op Energy.
    But if Green Network Energy went bust would we customers be covered similarly by the regulators considering they're an Italian based company?
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