Symbio Energy feedback

[Deleted User]

Those who believe that Ofgem should produce a list of suppliers who are struggling might wish to take note!

merchcon55

Symbio had advised OFGEM that they were going to pay the £450K FIT payment on 3 September. Any way of finding out if they did pay??

From Utilty Week:

Liquidity has become ‘primary concern’ for energy suppliers

Rising pressures in the energy retail market such as soaring wholesale costs have meant that liquidity has become a "primary concern" for many businesses in the sector, an industry expert has warned. Andrew Stone, managing director at Interpath Advisory and joint administrator for recently failed supplier Hub Energy, spoke to Utility Week prior to Ofgem's announcement that this year will once again see a shortfall in renewables obligation certificates (ROCs).

devondiver

Dolor said:

Those who believe that Ofgem should produce a list of suppliers who are struggling might wish to take note!

Well, it might have been useful to have had an inkling that PFP were about to fold! Just found this in my spam folder, dated yesterday:

"Hello Recently PFP Energy stopped trading and Ofgem, the industry regulator, asked us to take over the supply of energy to your home. As of 10th September you became our customer, welcome to the British Gas family. Don’t worry, you’re in safe hands. We’ll take care of everything and there’ll be no interruption to your supply. We’ll be back in touch within the next few days, and you can visit our FAQs if you’d like more information now:"

Question now is whether to try to initiate a switch immediately or to endure the "two or three months" for BG to "take over my account" - at a possibly punitive temporary BG tariff.

I suppose a possible saving grace for PFP is that they didn't go through the ridiculous death-throes shenanigans characteristic of SE - although I had started to wonder when they claimed that Ofgem regulations required them to hold at least two months of credit on my account! Actually I was just about to pull them up on this with a view to cancelling my DD - as my existing credit would just take me to the end of my fixed contract period (end of November).

Still, all fun and games eh? I wonder how many other suppliers are about to crumble (almost) out of the blue.

niktheguru

devondiver said:

Dolor said:

Those who believe that Ofgem should produce a list of suppliers who are struggling might wish to take note!

I suppose a possible saving grace for PFP is that they didn't go through the ridiculous death-throes shenanigans characteristic of SE - although I had started to wonder when they claimed that Ofgem regulations required them to hold at least two months of credit on my account! Actually I was just about to pull them up on this with a view to cancelling my DD - as my existing credit would just take me to the end of my fixed contract period (end of November).

At least you managed to get the near full year at the cheaper tariff, so the effects of PFPs demise will be less severe, considering you'd have had to take the increased prices for energy hit in November anyway. I'm sure you're right and a few more small suppliers will be biting the dust in the next few months.

greenguppie

devondiver said:

Dolor said:

Those who believe that Ofgem should produce a list of suppliers who are struggling might wish to take note!

...Question now is whether to try to initiate a switch immediately or to endure the "two or three months" for BG to "take over my account" - at a possibly punitive temporary BG tariff.

...

Allow me to re-write that for you.

Question now is whether to try to initiate a switch immediately or ... follow the advice I have alreday received from my old supplier, my new supplier, the energy regulator , and (last and possibly least in this case) MSE.

Decisions, decisions....

Especially as those in the past who failed to follow the advice they were given in similar situations often then filled these boards with their tales of woe they then experienced.


Just to let you know, and no promises, but the experinces I am aware of very recently from British Gas were when they took over all of RHE accounts (including all their white label names).
That was admittedly not a SoLR matter (it seemed to be a pre pack administration agreement) but otherwise the same with even more customers accounts having to be switched than in this instance.
I think British Gas managed to switch almost all accounts within 3 weeks - the normal maximum time allowed for a switch to occur.
In fact I know somone who's account didn't switch within that time (I think it took an extra week for theirs) and BG wrote to them unprompted, apologised for the delay they were experiencing and paid them £30 as a goodwill gesture i.e. the same compo as would be paid if a supplier fails to switch you within 3 weeks under normal circumstances.

As for new tariff price, you can be assured it will be no more than the BG default tariff, and who knows, they may be especially generous and give you an even better rate.

Actually the BG default tariff (in common with many suppliers default tariffs) is actually not too bad at present due to the massive rise in wholesale prices. It's actually quite difficult to beat, and then not by much, as it is capped by Ofgem.
- unless you are planning to switch to a loss leading introductory tariff by a loss making supplier who seem to have their own financial difficulties at present.

All fun and games indeed.

devondiver

greenguppie said:

devondiver said:

Dolor said:

Those who believe that Ofgem should produce a list of suppliers who are struggling might wish to take note!

...Question now is whether to try to initiate a switch immediately or to endure the "two or three months" for BG to "take over my account" - at a possibly punitive temporary BG tariff.

...

Allow me to re-write that for you.

Question now is whether to try to initiate a switch immediately or ... follow the advice I have alreday received from my old supplier, my new supplier, the energy regulator , and (last and possibly least in this case) MSE.

Thanks BG - er sorry, GG.

Fine, if one is gullible enough to believe that the advice of which you speak is sincerely aimed entirely at bettering the lot of the consumer. I just wonder how many who had a good outcome after taking an alternative route came back to moan on the forums. Surely, if we were averse to taking a punt in order to get a good deal we would probably already be with BG, or similar, and probably wouldn't be posting on this forum trying to find ways of saving spondoolies.

As you say, decisions, decisions. 

greenguppie

devondiver said:

greenguppie said:

devondiver said:

Dolor said:

Those who believe that Ofgem should produce a list of suppliers who are struggling might wish to take note!

...Question now is whether to try to initiate a switch immediately or to endure the "two or three months" for BG to "take over my account" - at a possibly punitive temporary BG tariff.

...

Allow me to re-write that for you.

Question now is whether to try to initiate a switch immediately or ... follow the advice I have alreday received from my old supplier, my new supplier, the energy regulator , and (last and possibly least in this case) MSE.

Thanks BG - er sorry, GG.

Fine, if one is gullible enough to believe that the advice of which you speak is sincerely aimed entirely at bettering the lot of the consumer....

If you have evidence to the contrary, it would be a fragrant breach of MSe's own editorial code.

"2. MoneySavingExpert.com's editorial independence and strategy of "helping the consumer" first shall prevail. The editorial stance shall remain independent from commercial objectives"

devondiver

greenguppie said:

devondiver said:

greenguppie said:

devondiver said:

Dolor said:

Those who believe that Ofgem should produce a list of suppliers who are struggling might wish to take note!

...Question now is whether to try to initiate a switch immediately or to endure the "two or three months" for BG to "take over my account" - at a possibly punitive temporary BG tariff.

...

Allow me to re-write that for you.

Question now is whether to try to initiate a switch immediately or ... follow the advice I have alreday received from my old supplier, my new supplier, the energy regulator , and (last and possibly least in this case) MSE.

Thanks BG - er sorry, GG.

Fine, if one is gullible enough to believe that the advice of which you speak is sincerely aimed entirely at bettering the lot of the consumer....

If you have evidence to the contrary, it would be a fragrant breach of MSe's own editorial code.

"2. MoneySavingExpert.com's editorial independence and strategy of "helping the consumer" first shall prevail. The editorial stance shall remain independent from commercial objectives"

MSE excepted - obviously. Doh!

SPOWER

Yet again, more lies from this company.  Chased a refund/final bill despite having their smart meter only installed a month ago, he said they are changing banks.  I said you are not changing bank because you said that before.  He said, that is what we are told to say sir.

niktheguru

SPOWER said:

Yet again, more lies from this company.  Chased a refund/final bill despite having their smart meter only installed a month ago, he said they are changing banks.  I said you are not changing bank because you said that before.  He said, that is what we are told to say sir.

What has having their smart meter a month ago got anything to do with getting your refund, final bill.
Get a complaint in ASAP, so you can then count the clock down for contacting the ombudsman to get your money back.....if they're still here by then.