Symbio Energy feedback

tk47

wavelets said:

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

Just been doing some research, and this company certainly has an interesting past with some creative book-keeping involved..

You were  incorrect that, at the time of your post (04-Feb-2019) were 100% owned by Dispensary Holdings Limited; ownerhip had already passed to GEOELECTRIC TECHNOLOGIES LIMITED

Here's a brief history.
SYMBIO ENERGY (Formally known as SYMBIO POWER) 07999360 was originally incorporated  21 March 2012
It was formally owned by:
GOLD NUTS LIMITED 05984266 incorporated 31 October 2006

However they passed ownership of the company to:
DISPENSARY HOLDINGS LIMITED 06239971 which was incorporated 8 May 2007
The transfer took place on 22 March 2018. In the process, GOLD NUTS LIMITED elected to write off a £12million+ loss that was owed to them by Symbio Energy.

This was despite the fact SYMBIO ENERGY valued itself in part based on £4.8m goodwill value @ 31/12/2017.
(Goodwill value can essentially be described as a premium a buyer might be expected to pay for a business over and above its underlying assets/liabilities)
SYMBIO ENERGY had increased it's estimated Goodwill value to £5.8m by 31/12/2018

GOLD NUTS LIMITED itself was then petitioned for bankruptcy on 15 Oct 2018 by KIMBERLEY PEER VENTURES ONE LTD 10596106 incorporated 01-Feb-2017, and a winding up order finally made on 11-Oct-2019 by The High Court of Justice

(Looking into Kimberly Peer Ventures One Ltd makes for some interesting reading too, but I won't venture down that path any further here, for fear of possible distraction)

DISPENSARY HOLDINGS LIMITED 06239971 actually passed ownership of Symbio Energy to a newly formed company, GEOELECTRIC TECHNOLOGIES LIMITED 11723156  on 2 January 2019.
GEOELECTRIC TECHNOLOGIES LIMITED  was actually only incorporated a few days before, on 12 December 2018 with £100 share capital. That share capital was raised to £200 also on 2 January 2019.
(Dispensary Holdings appear to have acquired 1.5% of the £200 business at the time of the share allocation)

DISPENSARY HOLDINGS LIMITED was then voluntarily struck off & dissolved on 03-Sep-2019, before publishing any accounts for the period they owned Symbio Energy.
(or indeed their latter small share in Geoelectric Technologies)

Similarly, no accounts have yet had to be filed by GEOELECTRIC TECHNOLOGIES LIMITED, the latest owner of Symbio Energy.

Of course, as you would expect, all the same familiar names are/have been associated with running Symbio Energy, Gold Nuts, Dispensary Holdings and now Geoelectric Technologies.

Swipe

Monthly Symbio Stats:

March estimate 361

March actual: 254

EAC: 2700/12 = 225

Talldave

My March stats:

March estimate: 653

March actual: 408

EAC/12: 417

tk47

CRISPIANNE3 said:

tk47 said:

CRISPIANNE3 said:

Tafrock said:

How long before your green tariff goes live 

Trying to avoid further issues I have spoken to Green online and they will delay my application a few days so the switch takes place on the 1st March.  Also my next task is to go down Symbio's official complaints route and see what happens. I have cancelled the dd for Symbio. I am advising them I will pay for this months estimated usage by bank transfer today but dispute the outstanding amount now standing at £27.00. Give them 8 weeks to resolve and if not Ombudsman.  Feeling more positive today!

Which version of their complaints procedure will you be using?

Remember the freepost address given on their website is not recognised. I'm not sure either of the two emails provided there work either.

But if you look back in this thread, you will find a list of emails addresses for symbio I posted. I would urge you to 'send to all' .

If not, following section W of their online terms and conditions should work - no guarantee of the timings they indicate though. Problem is, the ombudsman may ask you to prove you have followed their complaint procedure if you later ask them to assist. But which one?

Looking at their latest bill first stage is customers service and if still not resolved quality assurance. However cannot get anything right the email address is spelt like this qualityassuarance@ etc etc. 

Just looking on their website. There's yet another alternative for you to try now:
qaulityassuarance@ etc etc.


Source: https://www.symbioenergy.co.uk/tariff-info/ [PG2]

CRISPIANNE3

I notice they have disappeared from the cheap Money energy site again. Perhaps because the price of oil has fallen a lot they may be bringing out some new deals. I just can't wait!

merchcon55

They are showing on Uswitch - make sure you are looking at "electricity only" suppliers - as the default will always bring up dual fuel suppliers.

Kitchen_Sink

CRISPIANNE3 said:

I notice they have disappeared from the cheap Money energy site again. Perhaps because the price of oil has fallen a lot they may be bringing out some new deals. I just can't wait!

Are you sure they were reinstated after being banned from taking on new customers. That ban wasn't lifted until 25/03. I think MSE employees are working from home currently, and probably on more pressing matters.

rags58

Just rec'd my bill for April and Symbio are still over inflating the estimated consumption. In my case by about 110-130 units. You have to wonder if its a deliberate ploy to hold on to as much of my money as possible. They have had monthly meter reads, they know my consumption history, yet rather than adjust, they continue to ignore the monthly consumption readings and inflate their estimates for the forthcoming month.

Tafrock

It's simple. Without the money up front which they are getting by deliberate overbilling symbio will cease to exist. If a senior customer service rep is heard to literally beg me to withdraw my claim for a mere 30 quid (which he admitted they were obliged to pay) then things  are dire at symbio. Oh by the way I still haven't received the payment we agreed on. Though given the current situation with India and its lockdown that's acceptable really 

Talldave

April bill received and still the crazy over-estimates continue, for me this month it's 153.7% of (EAC/12). I don't understand why they estimate to 2 decimal places.

Free kWh still continuing, running total is 5.1% free kWh.

@Tafrock may have a point.  Although my bill is less than it would be for EAC/12, it would be £25 less if they'd used an estimate of EAC/12.  So it does look as if they're trying to hold on to cash even though winter is done and dusted.  Alternatively, they're so incompetent that they don't know how to set the estimating algorithm back to EAC/12?