Symbio Energy feedback

Simoncello

I cancelled my DD to Symbio today, after having head enough. Same as everyone else's story:

- inexplicable EAC price rises
- cynical attempts on their part to switch me to higher tariffs
- waiting an eternity on hold trying - and failing - to speak to Customer Services
- no response to emails, calls or messages
- more than doubling my bill from one month to the next
- and so on

Is there any reason I shouldn't just switch supplier immediately, or must I wait for Symbio to respond? 

I'm on their 'Low Fair & Green 2020 Variable' tariff.

Talldave

Streaky_Bacon said:

Talldave said:

I would imagine they pay in arrears for actual consumption. Even if they have to buy in advance, they know we aren't using the estimated amounts - they'll use our EACs for that, which can be confirmed by the anonymous industry meter reading organisation. 

The ludicrous over estimates are simply a total fiction between Symbio and us in order to get a positive cash amount in their bank account for 7-8 months of the year. Nobody's using that amount so there's no need for them to order or pay for it from the generators.

But is there a way for the network to measure actual consumption for a supplier? There is no way for the network to ever actually know how much Mr. Smith has used, is there? The only way to ever really know is by reading the meter. I doubt that the networks only bill the suppliers when there is a confirmed meter reading. What about customer who hardly ever read their meters and get months and years of estimated bills?

I don't know the ins and outs of the process, but the only workable system would seem to be for the network to bill the supplier for the same amount of kWh that the supplier bills their customers (whether estimated or actual).

In terms of timescales, I read something recently that Ofgem were trying to push the networks to accept payments from suppliers in 3 months arrears, so it is currently, presumably, much less than that.

Symbio get their monthly readings from customers so they know what's really used. For any customer that doesn't give readings they have the industry body to get estimates from. After all, if a customer leaves, it's that industry body that ultimately decides the final reading, not the customer or Symbio. 

The crucial thing to understand is that these "estimates" we get from Symbio aren't estimates at all. An estimate would be EAC/12 plus a bit for winter,  not EAC/12 plus 70% more. Symbio are deliberately faking consumption values greater than we've ever used, simply so they can get that extra cash in the bank. They know they have to give the money back in June/July when our near zero, or even negative, bills arrive, but they can't borrow massive amounts of cash interest free anywhere else can they?

Although I've always said they're incompetent, this method of borrowing interest free is genius.

Streaky_Bacon

Simoncello said:

Is there any reason I shouldn't just switch supplier immediately, or must I wait for Symbio to respond? 

I'm on their 'Low Fair & Green 2020 Variable' tariff.

Absolutely no reason why you shouldn't begin a switch immediately.

I personally am switching to Green. They have released an "Elm" variable tariff which is almost exactly what I am currently paying with Symbio.

rp1974

Simoncello said:

I cancelled my DD to Symbio today, after having head enough. Same as everyone else's story:

- inexplicable EAC price rises
- cynical attempts on their part to switch me to higher tariffs
- waiting an eternity on hold trying - and failing - to speak to Customer Services
- no response to emails, calls or messages
- more than doubling my bill from one month to the next
- and so on

Is there any reason I shouldn't just switch supplier immediately, or must I wait for Symbio to respond? 

I'm on their 'Low Fair & Green 2020 Variable' tariff.

Anybody is able to stay or leave Symbio,or any other supplier by giving the agreed notice as per terms and conditions they signed up to.
I prefer to stay as the way I view things is I'm not paying more over the year,it's a minor annoyance to me in the scheme of things really.
Totally understand why it hacks people off though.Fully expect this to happen again this time next year though.

devondiver

rp1974 said:

Anybody is able to stay or leave Symbio,or any other supplier by giving the agreed notice as per terms and conditions they signed up to.
I prefer to stay as the way I view things is I'm not paying more over the year,it's a minor annoyance to me in the scheme of things really.
Totally understand why it hacks people off though.Fully expect this to happen again this time next year though.

You mean you seriously don't believe that SE are about to fold? Really??
As regards switching now I'm sure I read somewhere that Ofgem's advice is, in effect, to sit tight and wait for the regulator sort out the mess, hence my earlier query - what happens now? and when?
Anyone??

Talldave

devondiver said:

rp1974 said:

Anybody is able to stay or leave Symbio,or any other supplier by giving the agreed notice as per terms and conditions they signed up to.
I prefer to stay as the way I view things is I'm not paying more over the year,it's a minor annoyance to me in the scheme of things really.
Totally understand why it hacks people off though.Fully expect this to happen again this time next year though.

You mean you seriously don't believe that SE are about to fold? Really??
As regards switching now I'm sure I read somewhere that Ofgem's advice is, in effect, to sit tight and wait for the regulator sort out the mess, hence my earlier query - what happens now? and when?
Anyone??

Nobody can know, so why are you so sure? If they have around 20k or more customers, this month's "loan" from customers will cover the Ofgem problem, and they've got a further 6 months before they have to repay us. And that's assuming that they simply weren't paying because they disagreed with the figures. 

devondiver

Talldave said:

Nobody can know, so why are you so sure?  

Not sure. Just a question. Somebody knows.
Much as I do not wish it, the writing on the wall seems very plain. Defaulting on huge payment due; customer portal down (temporarily); crazy bill demands ignoring meter readings; not contactable; not a peep on social media; shall I go on. To all intents and purposes the birds have fled the roost. Surely there must be an insider that knows something? I'm not a betting man but . . . . .

rp1974

devondiver said:

rp1974 said:

Anybody is able to stay or leave Symbio,or any other supplier by giving the agreed notice as per terms and conditions they signed up to.
I prefer to stay as the way I view things is I'm not paying more over the year,it's a minor annoyance to me in the scheme of things really.
Totally understand why it hacks people off though.Fully expect this to happen again this time next year though.

You mean you seriously don't believe that SE are about to fold? Really??
As regards switching now I'm sure I read somewhere that Ofgem's advice is, in effect, to sit tight and wait for the regulator sort out the mess, hence my earlier query - what happens now? and when?
Anyone??

Dont know where your getting that from,do carry on though.
They dont owe me anything financially that would outweigh leaving,at present the saving that I'd be loosing by going elsewhere and paying more.
Other than their rank and file employees I dont have the slightest interest if they folded tomorrow,next week,month etc.
If they do go south then as per any other supplier theres Ofgem processes in place to deal with that,again not that concerned if it happens.
As previously stated it's a minor annoyance,if it bothered me that much I'd leave,as can anybody else that it does bother.

devondiver

rp1974 said:

Fully expect this to happen again this time next year though.

Perhaps I misunderstood? You seem to imply that you expect them to still be in business for some time.

Stratus

I don’t think they can have a long term future.

Looking back at my records, every electricity supplier I have had since 2015 has gone bust. The whole domestic energy market is seriously flawed. A market that only has a single differential (price) is doomed by an inevitable race to the bottom. I feel lucky to have had almost 12 months cheap electricity from Symbio and relieved to have escaped before they go under. 

Historically, there has been no real problem with a SOLR and then shopping around again but with the collapse of Eversmart and appointment of Utilita as SOLR last year, things appear to be changing. It is looking increasingly like there is no competition among suppliers to bid for customers of collapsed companies anymore. Utilita was the only company volunteering to OFGEM to take on Eversmart customers. We have no knowledge of the records available to the SOLR from the failed company and there appear to have been problems when Eversmart went under. Utilita’s opening readings were more creative then anything Symbio could ever imagine. It needed correct, dated readings from me to get things accurately billed. All this took time and this can quickly become quite expensive. 

OFGEM advises customers to sit tight while a SOLR is appointed. Then the SOLR has to set up your account. Then they have to sort out outstanding balances with the failed company. At this time it is very difficult to switch and you are invariably on a crucifying rate. Even when you can switch away, that process takes a few additional weeks. You can quite easily spend an additional 15%+ of your entire annual expenditure in the time it takes to sort out.

The costs involved can quickly dwarf any early exit penalty that might apply. I suppose the issue is simply, how lucky do you feel?