Symbio Energy feedback

Talldave

Swipe said:

Talldave said:

Swipe said:

Just received my bill for £-0.02 due to their silly estimates catching up with them again. Never had one this early before. It'll be interesting to see if they fail to take my DD again as they did the previous time I had a negative bill.

Not taking a payment when you're in credit isn’t a failure, it's the right thing to do. They're effectively repaying you the money they borrowed using their ludicrous estimates. 

I pay a fixed monthly debit based on my EAC so if they don't take it like they didn't last time my bill was negative they'll be two months out of pocket

If you're meant to be on 12 identical payments then that is a bit cranky.

But is your bill still based on the "silly estimates consolidated against actual readings" approach? 

Swipe

Talldave said:

Swipe said:

Talldave said:

Swipe said:

Just received my bill for £-0.02 due to their silly estimates catching up with them again. Never had one this early before. It'll be interesting to see if they fail to take my DD again as they did the previous time I had a negative bill.

Not taking a payment when you're in credit isn’t a failure, it's the right thing to do. They're effectively repaying you the money they borrowed using their ludicrous estimates. 

I pay a fixed monthly debit based on my EAC so if they don't take it like they didn't last time my bill was negative they'll be two months out of pocket

But is your bill still based on the "silly estimates consolidated against actual readings" approach? 

Yes it is. Obviously a flaw in their system. It's in my favour as I did slightly over estimate my EAC when I signed up so will probably break even or just owe them a few pounds. Better that than them owing me money at the end.

Talldave

Swipe said:

Yes it is. Obviously a flaw in their system. It's in my favour as I did slightly over estimate my EAC when I signed up so will probably break even or just owe them a few pounds. Better that than them owing me money at the end.

At least you're fully aware and on top of it!

I don't understand their approach to variable tariffs. The one I signed up to is no longer available and the current offering is more expensive. So if wholesale prices have risen, why hasn't my variable tariff increased? It's like I'm on an informal fix.

rp1974

Talldave said:

So if wholesale prices have risen, why hasn't my variable tariff increased? It's like I'm on an informal fix.

Thats tempting fate,surely.Just got my October bill,being billed based on the renewal quote not on the variable I signed up to using the customer portal.Awaiting a response from them as to why,not overly concerned,all part of being a Symbio customer.

Talldave

rp1974 said:

Talldave said:

So if wholesale prices have risen, why hasn't my variable tariff increased? It's like I'm on an informal fix.

Thats tempting fate,surely.Just got my October bill,being billed based on the renewal quote not on the variable I signed up to using the customer portal.Awaiting a response from them as to why,not overly concerned,all part of being a Symbio customer.

If it wasn't Symbio, probably yes!  But every month I get electricity at 10.9p/kWh is a bonus in my book.  It's the lowest rate I've paid since 2016.

UnclaimedEnergy

https://www.ofgem.gov.uk/publications-and-updates/symbio-energy-limited-final-order-0

Symbio have informed Ofgem that they won't be able to pay their £1m RO bill. If this is indeed the case and they don't pay this bill then they'll have their supply license taken away and will cease to be an energy supplier.

Talldave

We could have a whip round for the £55.80 towards the mutualisation fund ;-)

Stratus

But the £927,870.57 could be more challenging.

CRISPIANNE3

UnclaimedEnergy said:

https://www.ofgem.gov.uk/publications-and-updates/symbio-energy-limited-final-order-0

Symbio have informed Ofgem that they won't be able to pay their £1m RO bill. If this is indeed the case and they don't pay this bill then they'll have their supply license taken away and will cease to be an energy supplier.

1. Symbio owes £927,870.57

 Hence the reason for the bills being generated early for Oct. I thought it was too good to last!

Talldave

Indeed, they've never been so keen before to get bills out so rapidly!  I see on my latest bill they've not updated my EAC to reflect their own very accurate estimate of EAC for the coming year.  But to be fair to them, the estimate for the month ahead is in line with the chart they showed during the renewal tariff sign-up process (that I just happened to screenshot!).

Their bankers might bung them £1m yet if they think the business has legs in the long term.