Neon Reef - any views?

ivanleo

Well NR seems to have made it though another day, and still quoting for new customers.

DiseasedBunny

ivanleo said:

Well NR seems to have made it though another day, and still quoting for new customers.

That will upset the doom mongers on here no end…

BigBlueSky

Neon Reef still have people working - Just got an email back from a query I had e-mailed them about setting up a new direct debit. (Around 15 minutes ago).

Shedman

BigBlueSky said:

Neon Reef still have people working - Just got an email back from a query I had e-mailed them about setting up a new direct debit. (Around 15 minutes ago).

Are you saying that you sent an email and 15 mins later they replied (as that would be a record I'm sure) or that it was 15 mins ago you got an email response to an query you sent in some time ago?  

By the way which member of staff was it from if it said (as it would nice to know if James or Sophie are still there as they have been helpful in the past)?

Shedman

Just seen that further BSC notices have been issued for both Neon Reef and Orbit Energy (these were the two of the ones that suspension notices were issued on 4 Nov) to now expel them from the BSC

https://elexonexternal.newsweaver.com/924j6pkkru/1byxlkqji37?lang=en&a=6&p=5207418&t=814254

"The Panel noted that the Defaulting Party is in Default under BSC Section H3.1.1(c)(iii), due to its failure to sufficiently reduce its Credit Cover Percentage over a period of two Working Days (WDs).

The Panel considered this matter and, having regard to its objectives under Section B1.2.1 and to its other obligations under the BSC, resolved as follows:

(a)  Pursuant to Section H3.2.1(e), subject to approval by the Authority, expel the Defaulting Party from the BSC in accordance with the requirements of Section A5.

Section A5 requires the Panel to notify the Authority and each other Party of its intention to expel a Party from the BSC. This notice must be given at least 28 days before the Panel issues an Expulsion Notice, with prior approval from the Authority, to the Defaulting Party. This Circular constitutes the notice to Parties required by Section A5.

Not sure what this all means but really doesn't look good....sounds like they've got 28 days at most to get the house in order or thats curtains.

EDIT. Just found this info which explains the system

https://www.elexon.co.uk/documents/training-guidance/bsc-guidance-notes/defaulting-party-and-failing-supplier-process-section-h/

BigBlueSky

Shedman said:

Are you saying that you sent an email and 15 mins later they replied (as that would be a record I'm sure) or that it was 15 mins ago you got an email response to an query you sent in some time ago?  

By the way which member of staff was it from if it said (as it would nice to know if James or Sophie are still there as they have been helpful in the past)?

No, not that good.

I sent an email on 31st October and they replied today.  I posted here on the forum 15 minutes after they had replied (around 16:25 today).

The previous e-mails from them had been from Sophie (on 31st October) but this time it was from Mirian.

ivanleo

Shedman said:
Not sure what this all means but really doesn't look good....sounds like they've got 28 days at most to get the house in order or thats curtains.

Hmm, 28 days sounds like a long time.

emmajones1976

Dont recall any other of the companies lasting 28 days after being booted.

Shedman

ivanleo said:

Shedman said:
Not sure what this all means but really doesn't look good....sounds like they've got 28 days at most to get the house in order or thats curtains.

Hmm, 28 days sounds like a long time.

I agree but from my reading of the circular the BSC Panel have to give 28 days notice before they can confirm expulsion and that this circular is the deemed notice.  It suggests NR / Orbit can make representations during that 28 day period.    Now as to whether in reality they can keep going 28 days thats another question...unlikely would be my view as who would trade with them now with an expulsion order looming (although clearly I'm hoping I'm wrong).

ivanleo

emmajones1976 said:

Dont recall any other of the companies lasting 28 days after being booted.

But they've not been booted, they've been given notice that they will be booted in 28 days.