Symbio Energy feedback

JeffMinter

They say

That said, we have unique processes which confused many customers. The purpose of this communication is to change Symbio processes to reduce confusion.

Then go on to write some long winded rubbish which does more to confuse than any bill they've had in the past. This must be intentional. Surely it is illegal for this sort of deceptive malpractice?

Jeremy_Klein

The email is poorly worded and poorly presented.  It looks like a knee-jerk reaction to avoid trouble from Ofgem.  There can't have been much quality control of this email and everything about it smacks of amateurism. 

It is also odd in that it does not include a personalised statement of the charges they expect to levy each account holder.

The example they give of a £550 annual bill actually has people paying 6x£53.63+6x£65.65 = £733 which is 30% above the £550, not 20%.  They say that there could be £100 extra on the account but 20% of £550 is £110. Assuming they do pay 5% interest then it would work out on average 5% of on an average of £55 over the year, ie £2.75.

As with the current estimated forward consumption, a lot depends on having a transparent process for calculating the estimate and a process for challenging the estimate if you disagree.  Their email provides neither transparency nor a challenge process.

That said, the principle of having an amount on account which earns interest is better than the present system in which people  overpay and receive no interest.  In effect they are borrowing from their customers at a rate of 5% which is probably better than they can achieve in the markets

Tallerdave

I almost slipped in to a coma before getting even halfway through the biggest pile of meaningless garbage I've ever seen! They talk about increased consumption like it's evil - most companies love it when their customers want more of what they sell.

Their enthusiasm for meter readings might help monthly billing reconciliation,  but when it comes to estimates it appears to make no difference whether you've supplied 1 reading or 100, they take NO account of your ACTUAL consumption in setting either your EAC or your monthly estimates. 

I shall be sticking with their "unique process that confuses some customers" but will still be taking them to the Ombudsman if they don't correct my EAC.

Jeremy_Klein

Just noticed.  There is an inconsistency in their email.  

"Any amount over your billed amount will attract 5% interest and in the event that the company is holding more than 20% of your annual bill, it will be automatically refunded."

"If the amount collected on a monthly basis results in Symbio holding an amount greater than 15% over your billed amount, it will automatically return the extra amount into your account in line with Ofgem best practice."

So they do not seem to know whether they are refunding amounts above 15% or above 20%.

That's Symbio for you ...

Reed_Richards

Positives:

• You get £5 if you agree to switch
• 5% interest on 'surplus' funds
• No more old confusing billing system
• Free exit from fixed-term contracts if you wish to leave

Negatives

• New, possibly even more confusing billing system
• New system will not necessarily believe readings you submit
• You have to be 20% (more than 2 months) over what Symbio thinks your bill should be to get a refund.
• Might imply that Symbio are in such straights it would cost them more than 5% interest to borrow money.

spot1034

Out of interest, is it known how many customers Symbio have? 

payless

In fairness, whilst the current billing was complex and lead to building up a surplus, but once I figured out the way they calculated I was able to confirm it was correct , I can’t say this about all other providers.   For a standard single tariff they are miles cheaper than others.  I would assume regulators have told them to send an apology, but hands up to them.

people who are not happy have the penalty waiver to move.

CRISPIANNE3

Tallerdave said:

I almost slipped in to a coma before getting even halfway through the biggest pile of meaningless garbage I've ever seen! They talk about increased consumption like it's evil - most companies love it when their customers want more of what they sell.

Their enthusiasm for meter readings might help monthly billing reconciliation,  but when it comes to estimates it appears to make no difference whether you've supplied 1 reading or 100, they take NO account of your ACTUAL consumption in setting either your EAC or your monthly estimates. 

I shall be sticking with their "unique process that confuses some customers" but will still be taking them to the Ombudsman if they don't correct my EAC.

They advised me the EAC is reviewed every quarter and they told me that in January 21.  Well if that was the case the EAC would have been decreased because they are over estimating my usage by about 60 percent a month. As we know they take no notice of actual readings even if you send them a screen shot. However the good news is they are allowing customers to leave penalty free in the next month. As our usage has dropped dramatically it is time for me to move on. Freedom day has arrived for me.

Tallerdave

People need to remember that Symbio's idea of your annual spend is probably about 100% over what you actually spend. They ignore reality in order to set arbitrary consumption/spend figures and bill against that.

The 5% interest (per month, year, millennium?) Is so far detached from reality that it sounds like an unsustainable pyramid scheme. 

I'd love to see the maths behind the £50,000,000 they've apparently saved their customers. They probably meant rupees not pounds!

cannugec5

I have just consented to the change and am now worried what I have agreed to. With hindsight I realise there was no mention in the email, of prices! ( ie pence per KWH ). My direct debit to date was £65 per month. Fixed and more than enough to cover usage. As you will see above, if I am reading this correctly it will increase to £94 for the remainder of the summer, then £114 for the winter. But I don’t know if my actual rate has changed .. or rather by how much. 

As it says in the screenshot the bill in July will reflect the breakdown of charges. 

For those who have not yet pressed the click here button, it simply takes you to a page that says accept or reject. No further detail is given. 

The above is a screenshot of the email received AFTER I pressed accept. 

This, I guess is why the first email was not personalised with detail.