Add your feedback on energy supplier Robin Hood Energy

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Robin Hood Energy

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Ceamys

I was very nervous about switching my gas & electricity but decided to phone Robin Hood Energy (since there were no reviews) to see how they dealt with my call. The person I spoke to was very helpful and patient and talked me through the whole process. Apparently Robin Hood has only just opened to the general public. They normally would adjust my direct debit every 6 months but agreed to allowing me to have a fixed DD for the year(unless my usage goes up dramatically) which I prefer. So here's hoping it all works out ok! I'm due to start on 20th Sept so will keep you informed of progress.

thozza

From yesterdays Guardian:

http://www.theguardian.com/environment/2015/sep/07/robin-hood-energy-nottingham-council-launches-not-for-profit-energy-company

savemoney

Its worth reminding people that they not part of the warm front scheme so if your eligible for warm front its a saving off £140 this year

snedger

Hello
Just moved home and really have had it with the big suppliers, so took a chance with Robin Hood.
Very straight forward, friendly UK based call centre - not plumbed in with Internet yet, so online registration on phone was not something I fancied.
Excellent low tariff - especially compared to properties' current {and in 3 weeks outgoing} supplier Eon.
Very happy with signup and love idea of not for profit utility supply - profits should be invested in the utility infrastructure and not go to share holders.
Cheers

footyguy

snedger wrote: »

Hello
Just moved home and really have had it with the big suppliers, so took a chance with Robin Hood.
Very straight forward, friendly UK based call centre - not plumbed in with Internet yet, so online registration on phone was not something I fancied.
Excellent low tariff - especially compared to properties' current {and in 3 weeks outgoing} supplier Eon.
Very happy with signup and love idea of not for profit utility supply - profits should be invested in the utility infrastructure and not go to share holders.
Cheers

Not sure I fully understand this post...:think:

If you have just moved home, how come Eon will not be your supplier for another 3 weeks?

If you mean you will be moving in 3 weeks time, why have you attempted to switch supplier already? Have you already registered an account with Eon?

Anyway, I've done a quick comparison. I don't think Robin Hood is the most comeptitive for gas (if you have that)

For electricity, Eon's best deals are currently with those that are collective switch tariffs. MSE recently had one, and uSwitch have one until early next month (I know EHL & Quidco/Energylinx both have collective switches coming out this month too, but no details yet)

Anyway, looking at East Midlands region as an example, the Eon collective tariff for electricity via uSwitch (based on 3100kWh p.a) is cheaper than Robin Hood.

The details are as follows

Eon
standing charge: 16.42p/day
unit charge: 9.629p/kWh
(less £5 per year for paperless billing)

Robin Hood
standing charge: 19.98p/day
unit charge: 10.650p/kWh
(less £22.50 per year for online management)

Prices will vary slightly by region, but you may want to double check what you have done. Just because the company operates on a not for profit basis, it does not mean it is cheapest.


Actually looking into Robin Hood Energy Limited (Reg no. 08053212) further, I'm not convinced it is a not-for-profit company. It appears to me to be a normal private company limited by shares. It currently has 3 directors, of which at least 2 are councillors (and possibly the 3rd too) who are presumably paid a salary by their council. The company itself can also pay its directors renumeration (in any form) and pay reasonable expenses to attend company meetings or perform other duties in connection with the company.

The company shares have attached to them full voting, dividend and capital distribution rights (including on winding up).
There is currently just one shareholder, Nottingham City Council, who owns the single share issued.

The company can also declare dividend payments (which by definition are a distribution of profits)

The only truth appears to be that there are no private shareholders (currently) because the only issued share is currently held by Nottingham City Council, who will therefore be the recipient of any profits distributed, (i.e. it will not invested in utilty infrastucture).

Edit: It may be that Nottingham City Council have waived their right as a shareholder to receive any distribution of profits, but that would simply mean that the company would retain any profits generated in its balance sheet (as Nottingham City Council are the only shareholder), and Nottingham City Council owns the company anyway as the sole shareholder.

chanz4

and a numpty that used to be a manger at npower is running it

snedger

footyguy wrote: »

Not sure I fully understand this post...:think:

If you have just moved home, how come Eon will not be your supplier for another 3 weeks?

If you mean you will be moving in 3 weeks time, why have you attempted to switch supplier already? Have you already registered an account with Eon?

Anyway, I've done a quick comparison. I don't think Robin Hood is the most comeptitive for gas (if you have that)

For electricity, Eon's best deals are currently with those that are collective switch tariffs. MSE recently had one, and uSwitch have one until early next month (I know EHL & Quidco/Energylinx both have collective switches coming out this month too, but no details yet)

Anyway, looking at East Midlands region as an example, the Eon collective tariff for electricity via uSwitch (based on 3100kWh p.a) is cheaper than Robin Hood.

The details are as follows

Eon
standing charge: 16.42p/day
unit charge: 9.629p/kWh
(less £5 per year for paperless billing)

Robin Hood
standing charge: 19.98p/day
unit charge: 10.650p/kWh
(less £22.50 per year for online management)

Prices will vary slightly by region, but you may want to double check what you have done. Just because the company operates on a not for profit basis, it does not mean it is cheapest.


Actually looking into Robin Hood Energy Limited (Reg no. 08053212) further, I'm not convinced it is a not-for-profit company. It appears to me to be a normal private company limited by shares. It currently has 3 directors, of which at least 2 are councillors (and possibly the 3rd too) who are presumably paid a salary by their council. The company itself can also pay its directors renumeration (in any form) and pay reasonable expenses to attend company meetings or perform other duties in connection with the company.

The company shares have attached to them full voting, dividend and capital distribution rights (including on winding up).
There is currently just one shareholder, Nottingham City Council, who owns the single share issued.

The company can also declare dividend payments (which by definition are a distribution of profits)

The only truth appears to be that there are no private shareholders (currently) because the only issued share is currently held by Nottingham City Council, who will therefore be the recipient of any profits distributed, (i.e. it will not invested in utilty infrastucture).

Edit: It may be that Nottingham City Council have waived their right as a shareholder to receive any distribution of profits, but that would simply mean that the company would retain any profits generated in its balance sheet (as Nottingham City Council are the only shareholder), and Nottingham City Council owns the company anyway as the sole shareholder.

I used the MSE Cheap Energy Club comparison and Robin Hood energy came out better than British Gas and Eon for an Economy 7 tariff - if the MSE Cheap Energy Club have got it wrong, then I'll consider switching again later in the year.
I've reread my post and it makes sense to me - the current supplier at the property that I've moved to in to is Eon and in 3 weeks time Robin Hood Energy will take over.
I did the usual google research on Robin Hood Energy - your post is the only thing anywhere I can find that casts doubt on whether Robin Hood Energy is really a not for profit company - my reason for choosing a not for profit company was not primarily to save money, but because I find it disgusting that utility companies make a profit and pay shareholders dividends for selling essential products such electricity; gas and water.

thozza

Robin Hood Energy state that they are a 'not for profit company' prominently on their website, and that they are wholly owned by Nottingham City Council.

'Not for profit' generally means that the organisation does not distribute any profits to owners, it does not mean that they cannot make a profit.

Quoting from a BBC report:

Robin Hood Energy was a not-for-profit business, said the council. It said the directors were not paid a salary and other employees did not receive bonuses.

footyguy

snedger wrote: »

I used the MSE Cheap Energy Club comparison and Robin Hood energy came out better than British Gas and Eon for an Economy 7 tariff - if the MSE Cheap Energy Club have got it wrong, then I'll consider switching again later in the year.

I'm sure the MSE CEC has not got anything wrong, but have you looked at what it said carefully?
e.g.Did you check the cost of separate suppliers compared to dual fuel?

Also, a collective switch tariff is only available through the specific third party that it has been done in conjunction with.

So you won't find a uSwitch collective switch tariff offered anywhere else than on uSwitch - even the supplier themself cannot offer it to you directly.

snedger wrote: »

I did the usual google research on Robin Hood Energy - your post is the only thing anywhere I can find that casts doubt on whether Robin Hood Energy is really a not for profit company - my reason for choosing a not for profit company was not primarily to save money, but because I find it disgusting that utility companies make a profit and pay shareholders dividends for selling essential products such electricity; gas and water.

That is why I posted this information I have uncovered - I hope you find it useful

footyguy

thozza wrote: »

Robin Hood Energy state that they are a 'not for profit company' prominently on their website, and that they are wholly owned by Nottingham City Council.

'Not for profit' generally means that the organisation does not distribute any profits to owners, it does not mean that they cannot make a profit.

Quoting from a BBC report:

Robin Hood Energy was a not-for-profit business, said the council. It said the directors were not paid a salary and other employees did not receive bonuses.

The BBC are only reporting what they have been told by the owner.
The facts do not appear support that claim by the owner.

Accountingweb.co.uk says a not for profit company

...needs its articles amended but this time to state that the company is a ‘NFP’ company such that should any surplus profit be made then the profit is to be reinvested back into the company or social purpose for which the company was created rather than distributed as dividends (which is the reason why these companies are usually limited by guarantee)...

Compare to Ebico - the UK's first not-for-profit energy supplier
(just a shame they buy their energy from, and have their energy suppllied to their customers by their supply partner, SSE, which is a with profit supplier)
However, Ebico is set up that prohibits any profit going to it's members, and even if it were to ever close, the assets are still prohibited from going to it's members, but rather must pass to a similar organisation with similar aims.