Symbio Energy feedback

tk47

Stratus said:

Another over inflated estimate for March but not as ridiculous as January.
Jan estimate EAC/12 +89%
Feb estimate EAC/12 +32%
March estimate EAC/12 +61%

My figures:
Jan estimate EAC/12 +25% (was 86% before correction mid-month)
Feb estimate EAC/12 +38%
March estimate EAC/12 +54%

So as anticipated, they are simply applying an ever increasing percentage over EAC/12 to ensure the money keeps rolling in (as they otherwise reconcile the overcharge at the end of the month)

brewerdave

OFGEM have banned Symbio from taking new customers.
https://www.ofgem.gov.uk/publications-and-updates/ofgem-issues-five-suppliers-final-orders-become-dcc-users?utm_source=twitter&utm_medium=fivesupplierdcc&utm_campaign=pressrelease

tk47

Swipe said:

It'll be very interesting to see how much they underestimate in the Spring/Summer.

According to their email of 01-Dec-2019, they said:

The software system has been using spring/summer estimated meter reads as opposed to the much higher winter consumption actual amounts. ...

Our system has unfortunately applied summer estimates and as a result, the October and November estimated bills were significantly lower than the actual energy supplied by Symbio Energy to our customers....

Up to and including Nov 2019, they were using EAC/12. (albeit for those on E7, at an assumed 42% low rate usage, irrespective of the figures provided by the customer). Whether they return to EAC/12, we'll presumably find out next month.

I'm rather thinking that, as they will presumably also be banned from taking on new customers by then unless thay have become DCC compliant, I would be expecting an Ofgem annoucement.

Edit: Too late!
https://www.ofgem.gov.uk/system/files/docs/2020/03/symbio_final_order_-_6_march_2020.pdf

Though how Ofgem can introduce the ban almost 1 month before the previously stated deadline, I'm not so sure

Edit2: This document explains Ofgem's decision.
https://www.ofgem.gov.uk/system/files/docs/2020/03/symbio_notice_of_reasons_for_a_final_order_-_6_march_2020.pdf

Sounds like it could be limited to only a 3-4 week ban.

3.19. The Authority notes that Symbio is close to becoming a DCC User, but the fact remains that Symbio is not currently a DCC User.

The Authority remains of the opinion that it is requisite in all the circumstances of this case to make the FO to ensure that Symbio will remain focused on completion of the DCC User Entry Process to become a DCC User as quickly as possible. The imposition of the FO with a date for compliance by 31 March 2020 should enable Symbio to meet this requirement.

As soon as the Authority is satisfied that Symbio has become a DCC User, the sales ban will no longer apply and the Authority will begin the process of revoking the final order.

But it then goes onto confusingly state:

3.22. In particular, the Authority: ...
iii. is not satisfied that Symbio has agreed to take and is taking all such steps as it appears to the Authority for the time being to be appropriate for Symbio to take for the purpose of securing or facilitating compliance with the Relevant Condition;

Swipe

Just glad they've had me on a fixed direct debit since my sign up mid December.

griffb

brewerdave said:

OFGEM have banned Symbio from taking new customers.

People are still joining them?????

tk47

Loving the current Symbio Energy About Us page
https://www.symbioenergy.co.uk/about-us/

Now you know where we've all gone wrong. We all believed they were an electricity supplier, but it seems they are actually Business Consulting Solutions, or Finance solutions designed to help you organize and manage your Banking.

tk47

Their FAQ's are looking equally impressive....
https://www.symbioenergy.co.uk/faq/

e.g.

Do you have delivery system?
Where Are Your Consultants Based?
How Quickly Can I Intiate A Project?
Do you license to startup companies?
Do you advise or fund companies?
Where can I find more information?

tk47

And here's their pricing strategy.
https://www.symbioenergy.co.uk/pricing/

[Deleted User]

I am watching all the above, have a look at me post regarding making money, if they don't get approval then can legitimately close company, i am off tomorrow!!

Boohoo

Interesting bit on the BBC website.
Not sure if this id a recent article.
https://www.bbc.co.uk/news/live/business-51679907