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Symbio Energy feedback

edited 4 February 2019 at 8:00PM in Energy
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waveletswavelets Forumite
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edited 4 February 2019 at 8:00PM in Energy
Anyone have any feedback on Symbio Energy?

They seem to be a new supplier; electric only at this time.
I think they launched 01-Dec-2018.

They are suddenly appearing on a comparison site with quite a competitive price, at least for the Eastern region. (I've not checked other supply regions yet)

Here is their website

https://symbioenergy.co.uk/

Oddly, there is no way to get a quote or switch via their website ; it says you have to call or email them (see their FAQ page, found under Support)

They are currently 100% owned by Dispensary Holdings Limited
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Replies

  • brewerdavebrewerdave Forumite
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    I did a comparison this morning and they suddenly appeared with an extremely competitive quote for leccy only (I'm in South Wales) - I'd be a bit worried about their prospects - their p/kwh is less than Iresa's rate -who went bust last July owing £6m I believe:eek:
  • edited 5 February 2019 at 6:48PM
    waveletswavelets Forumite
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    edited 5 February 2019 at 6:48PM
    brewerdave wrote: »
    I did a comparison this morning and they suddenly appeared with an extremely competitive quote for leccy only (I'm in South Wales) - I'd be a bit worried about their prospects - their p/kwh is less than Iresa's rate -who went bust last July owing £6m I believe:eek:

    £6m - ist that all? Bulb already owe £26m :eek:

    You may want to double check the tariff.

    Iresa Flex 5, which was their latest and more expensive than Flex 4 that many were on, charged the following according to my records for the South Wales supply region

    12.432p/kWh & 17.682p/day

    Symbio will charge:

    12.882/kWh & 16.234p/day

    Powershop (nPower) , even without their special Power Pack prices, charge:

    13.251p/kWh & 19.352p/day,

    so not that much more expensive than Symbio.
  • brewerdavebrewerdave Forumite
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    wavelets wrote: »
    £6m - ist that all? Bulb already owe £26m :eek:

    You may want to double check the tariff.

    Iresa Flex 5, which was their latest and more expensive than Flex 4 that many were on, charged the following according to my records for the South Wales supply region

    11.84p/kWh & 16.84p/day

    Symbio will charge:

    12.882/kWh & 16.234p/day

    Powershop (nPower) , even without their special Power Pack prices, charge:

    13.251p/kWh & 19.352p/day,

    so not that much more expensive than Symbio.


    My final bill from Iresa showed 12.43p/kwh inc VAT on Flex 5 - I think the Symbio quote I got this morning showed 12.28p/kwh via Energylynx site and lower stding charge than Iresa HOWEVER not risking a switch to them anyway:)
  • waveletswavelets Forumite
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    Sorry, I forgot to include the VAT on the Iresa prices. Now updated :)
    Symbio & Powershop prices came from energylinx and already included VAT
  • edited 5 February 2019 at 8:45PM
    PennineAcutePennineAcute Forumite
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    edited 5 February 2019 at 8:45PM
    From Northwest, they are competitive and cheaper than the renewal rates of my current small supplier.
  • Be very interested to hear any feedback, suprised there hasn't more discussion over them to be honest.

    Cheapest for me on any comparison site (even cheaper than Utility Point) & @wavelets you can now get a quote on the symbio website :)

    No exit fees & a free phone 0800 number.

    All seems too good to be true...
  • fewkestefewkeste Forumite
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    No exit fees & a free phone 0800 number.

    All seems too good to be true...

    1. Contact OFGEM and ask them what Due Diligence checks they have actually carried out (as opposed to just reading an application form filled in by Symbio.)

    2. Check out the history of directors of the companies that are involved including the holding company.

    I'm absolutely NOT saying or suggesting anything is wrong - it's just that when I started to search I became a little concerned - nothing concrete - just my instincts are to watch and wait at present.

    I always trust my instincts.

    I was ready to initiate a move away from Powershop to Yorkshire Energy within the next month and then Symbio Energy popped up with a very competitive price.

    Having followed the Iresa debacle as an interested observer, I'm not about to jump to a new supplier just because they are cheap.

    One thing that caught my eye (and made me take a sharp intake of breath) was the tariff where you have to prepay 2 months worth of electric at the start of your contract. :eek:

    Now, being with Powershop where to do this sort of thing is not unusual - in fact it's the norm (you buy discounted packs of power in advance to get a good discount) but, with a new untried supplier, I might be somewhat concerned about that level of financial commitment up front.

    Look up llp partnerships.

    I'll await developments with interest. :D
  • fewkeste wrote: »
    I'll await developments with interest. :D

    I've been awaiting & watching for developments about 6 weeks now :rotfl:

    They were initially only showing on energylinx, but over the past few days have popped up on a few other price comparison sites.

    Very little information to be found. One Trustpilot review & this thread basically.

    I decided to give them a call the other day with the intention of biting the bullet & switching to them. Not a great first impression. A man answered the phone, spoke quietly and I could barely understand him. It sounded like he was pottering about in his house tbh & I could hear a mobile phone ringing in the background.

    Every question I asked, there was like a 5 second delay while he was thinking of the answer. I felt like I was having to help him answer my questions...

    Anyway I queried the 2 months advanced payment tariff, I thought it would possibly be a one-off card payment. Then 10 direct debits maybe??? But NO, from what I could gather from him, they take the 2 months advance together with the first month, then you pay your next 11 monthly direct debits, then they give you the 2 months advance payment back at the end... kind of like a bond...??? But it doesn't act as a credit on your account :huh:

    I really don't think he had a clue what he was saying to be honest.

    Unconvinced, lost the will & all faith by this point, I put the phone down.

    Due to imminent price rises from my current supplier, I was banking on switching to Symbio. But I guess its back to the drawing board now.
  • fewkestefewkeste Forumite
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    Due to imminent price rises from my current supplier, I was banking on switching to Symbio. But I guess its back to the drawing board now.

    Very useful feedback - useful but disturbing!

    Yorkshire Energy is very competitive for me (East Midlands) - any good for you?
  • edited 22 March 2019 at 12:48PM
    MABLEMABLE Forumite
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    edited 22 March 2019 at 12:48PM
    I have just spoken to them on the phone and spoke to a foreign sounding lady. She explained you can apply online now but they are in the process of setting up online facilities for customers to send in their meter reads. Also she explained they do not take payments in advance except on the two months fixed tariff.

    The one I would be interested in having is the 12 months fix, no exit fee and the price per kw is 13.40 and daily charge 15.20. Also the figures quoted include vat.

    Seems a better deal for me than Bulb.

    The issue for me is do I have confidence in this new start up.
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