Symbio Energy feedback

shinytop

I just got my final bill from Symbio just under 7 weeks from switching.  I'm well over £300 in credit and it says I'll be refunded in the next 10 business days.  Fingers crossed but I'm not holding my breath...

Gerry1

matelodave said:

Potentially it could be as a consequence of the price cap having three differnt levels based on payment types

1 - Credit  (probably paying you bill on demand - ie when it's issued which tends to mean that the account is always in arrears
2 - Other - possibly direct debit (but I dont actually know) maybe even if you've got a smart meter or not
3 - Paygo - where they have additional costs in collecting payment 

I've tried to find out but as in most things OFGEM related it's not ever so easy - perhaps someone else has the answer

From the Ofgem letter:-

Inigo_Montoya

shinytop said:

I just got my final bill from Symbio just under 7 weeks from switching.  I'm well over £300 in credit and it says I'll be refunded in the next 10 business days.  Fingers crossed but I'm not holding my breath...

I think its extremely unlikely the liquidators themselves will be handing out refunds now

It will be the SoLR i.e. EON NEXT that sorts it out (eventually)

However expect to wait many months for it to be refunded

neilsedaka

I have received a tweeted reply from E.on Next regarding my question about two NextFlex tariffs showing for me.

"One is for if you pay by direct debit (the cheaper one) and the other is for paying on receipt of bill"

So, I should now be on the cheaper one 20.87p/kWh 24.02p/day.

wittynamegoeshere

I don't think "cheaper" is the right word!  Slightly less more expensive?

yippeekiay

Phew, glad it was the "cheaper" deal for me as I pay by DD. Just this second checked the tariff link given in this thread (thank you) and my new E.on charges came up at 26.46p/day & 20.21p/kWh. I was paying Symbio 19p/day & 13.46p/kWh.

I hate standing charges - I wish they'd (all utility companies) keep it simple and charge a unit rate only, then it would be immediately obvious who actually has the cheaper deal !!!

So my increase means £27.23 more standing charge & £175.50 usage, so basically £200 increase over a year.

So although the new tariff isn't ideal and will be more expensive it won't be double like the quotes I've been checking elsewhere as they all seem to be giving only fixed rates.

tg99

Also just done a price comparison on Cheap Energy Club and Neon Reef v3 fixed 12mths is about £170pa cheaper than the new Eon tariff. Seems like this tariff is still on offer on Neon website….has anyone spoken to them to find out their rationale for still offering a fix at a cost way below all other providers? 

elucidate

tg99 said:

Also just done a price comparison on Cheap Energy Club and Neon Reef v3 fixed 12mths is about £170pa cheaper than the new Eon tariff. Seems like this tariff is still on offer on Neon website….has anyone spoken to them to find out their rationale for still offering a fix at a cost way below all other providers? 

Apparently it's quite difficult to get hold of them right now. It's obviously an exercise in cashflow. 

wittynamegoeshere

I'd hope that Ofgem will be having some serious words with them and will be analysing their business model.  Either that or they're playing golf while waiting for the email from them to say they've just gone bust.

It's illegal to trade while insolvent, so presumably they pre-bought massive amounts of power back when the price was low.  Either that or they have some kind of perpetual motion machine that generates all the electricity they sell.

But there's no need to worry about switching to them, the worst that could happen is that they steal your money then everyone else refunds your losses, they can just bung the bill on next April's capped price rise, along with the mountain of other losses.

I'm thinking about starting an energy company.  Privatise the profits, socialise the losses, everyone's a winner - except everyone.

efpom

Has anyone been suesd by Symbio and the case was struck out because Symbio did not pay the hearing fee?