Symbio Energy feedback

spot1034

My tariff details show the correct lower direct debit rates. This might be because there has been some manual intervention in my case as I messaged them via their Facebook page as soon as the account was  set up to ask if I can have my Economy 7 meter readings added together and charged at the single rate. My off-peak usage is too low for the E7 rate to be beneficial. It was all sorted within half an hour and the message I got back included details of my unit rate and daily standing charge.

Mister_G

Back in June, Symbio installed a new SMETS2 smart electricity meter, but failed to commission it.  Therefore I was sending in monthly manual readings.

When Eon took over as SoLR, I sent them a message saying that the meter still hadn't been commissioned.  I've just had a message from Vijay at Eon to say that they have no info on the new meter at all from Symbio (surprise, surprise!).  I have now provided serial nos of both meters, the old meter reading on removal and the current new meter reading.

Just had another message from him to say that they will pass this onto their metering team and arrange for the meter to be commissioned onto the DCC.

Considering I tried for 4 months to get Symbio to do this, at least Eon seem to be on the ball.

How long it will take to get my Symbio refund is another matter!

Lemonjuiced

I have gone on an 18 month tarif for electricity which is about 2p per unit more than nextflex. Given that the cap will soon be shooting up towards 30p per unit this seemed a good move.

emmajones1976

Lemonjuiced said:

I have gone on an 18 month tarif for electricity which is about 2p per unit more than nextflex. Given that the cap will soon be shooting up towards 30p per unit this seemed a good move.

You think the cap will be going up 40% ?

QrizB

emmajones1976 said:

Lemonjuiced said:

I have gone on an 18 month tarif for electricity which is about 2p per unit more than nextflex. Given that the cap will soon be shooting up towards 30p per unit this seemed a good move.

You think the cap will be going up 40% ?

If they continue to calculate it in the same way, it might well do so.

The current cap was based on wholesale prices from Feb to Jul 2021, during which time they averaged around 7p/kWh. The 21p cap is made up of 7p for wholesale costs plus 14p for everything else.

The next cap will be based on prices from Aug 21 to Jan 22. We're 2/3rds of the way through that period and prices have so far averaged around 16p/kWh. If nothing else changes the new cap could be 16p plus 14p, ie. 30p/kWh.

emmajones1976

Would plunge a huge percentage of the population into fuel poverty, be interesting to see if that actually happens.

QrizB

emmajones1976 said:

Would plunge a huge percentage of the population into fuel poverty, be interesting to see if that actually happens.

Well, it seems to me there are broadly two ways this plays out:

1. Ofgem sets the cap according to the rules as they stand. The electricity cap becomes (say) 30p/kWh and gas 7p/kWh. If prices remain as high as they currently are, fuel poverty is headline news (unless benefits rise to cover it; £10/wk on UC and pensions?); but if prices fall, switching becomes viable again.
2. Ofgem changes the rules and the cap stays where it is now. All the other suppliers go bust (there's no point staying in business if you're guaranteed to lose money), more Special Administrators are appointed, more funding comes from BEIS and energy is de facto both nationalised and subsidised by roughly £20Bn pa in taxes.

I'm sure the people in the loop at Ofgem and BEIS can do the same sums and any competent government would be coming up with a cunning plan to deal with this.

emmajones1976

3. The wholesale price collapses.

Well, we can dream.

tghe-retford

4. The price cap is abolished under pressure from the biggest energy providers and the Government gives targeted help for households in poverty. Easier done during the spring/summer period.

QrizB

tghe-retford said:

4. The price cap is abolished under pressure from the biggest energy providers and the Government gives targeted help for households in poverty. Easier done during the spring/summer period.

Seems a lot less likely than keeping the cap but giving the same targeted help, but I'm sure we'll find out in due course.