Neon Reef - any views?

ozuma

paulbounty3 said:

DiseasedBunny said:

That’s another day still going

Pure Planet and Colorado Energy cease trading today, more customers for Neon Reef

I'm surprised Ampoweruk and Goto Energy were not included. Between them they still owe £6million in RO payments.

What about Bulb? I'm surprised they are still going, I thought last Wednesday was D day; no backer, no future. Not heard of any firm backer so far. Must be a difficult decision for any potential backer - take on £200million+ of debt, or wait until Bulb fail and then take on their customers under a SoLR agreement.

Jinglish

If the big man says "DO NOTHING" why on the MSE forum is that message being ignored? Surly he would say on his TV show or this site switch to NF it's the best deal? See if he mentions anything tonight. I'm ex-Symbio ported to EON but a company that operates at way under the cap rate and clawing higher DD's, failed to pay their licence fee on time only a month ago https://www.ofgem.gov.uk/publications/neon-reef-limited-provisional-order, has thousands of negative trust piolet reviews and cannot be contacted rings alarm bells. Yes, I know you are protected by OFGEM but ask yourself this, if OFGEM wouldn't save your skin by porting you over would you switch? This panic switching is adding fuel to the fire just like when the news reported shortages at the fuel station and are now reporting toy shortages for x-mas. All rational seems to go from good minded people.

Ultrasonic

paulbounty3 said:

DiseasedBunny said:

That’s another day still going

Pure Planet and Colorado Energy cease trading today, more customers for Neon Reef

I doubt many would try to make the switch. I'm with PP and certainly won't be. 

petter2

Anyone else missing their latest bill? I usually got my bill around the 27th/28th but it's the 14th now and I am still missing the September bill. Not a good sign

brewerdave

petter2 said:

Anyone else missing their latest bill? I usually got my bill around the 27th/28th but it's the 14th now and I am still missing the September bill. Not a good sign

Had my NR monthly statement on time on the 11th

Petriix

Jinglish said:

If the big man says "DO NOTHING" why on the MSE forum is that message being ignored? Surly he would say on his TV show or this site switch to NF it's the best deal? See if he mentions anything tonight. I'm ex-Symbio ported to EON but a company that operates at way under the cap rate and clawing higher DD's, failed to pay their licence fee on time only a month ago https://www.ofgem.gov.uk/publications/neon-reef-limited-provisional-order, has thousands of negative trust piolet reviews and cannot be contacted rings alarm bells. Yes, I know you are protected by OFGEM but ask yourself this, if OFGEM wouldn't save your skin by porting you over would you switch? This panic switching is adding fuel to the fire just like when the news reported shortages at the fuel station and are now reporting toy shortages for x-mas. All rational seems to go from good minded people.

Your argument is totally irrational. There's no 'shortage' of energy accounts with a given supplier, nor could one be created by 'panic switching'. It's perfectly rational to switch to the cheapest available deal, even if that supplier is likely to go bust. I'm going to use the same electrons whatever supplier I'm with so it makes perfect sense for me to pay as little as possible.

I'm not really sure what I could possibly lose, even if Neon Reef go bust today. I've still benefitted from saving a few pence per unit for a couple of days. They might not go bust, or at least might survive a few more weeks so the savings can only increase. There are no circumstances under which I could actually lose money.

It's no bother to me if I have a trail of SOLRs who all need to figure out how much is owed. I keep detailed records of start/end readings. The worst case is that NR go under just after my DD payment and I have £40 credit, but I'd almost certainly end up owing that to the next SOLR anyway.

Patr100

from today's Guardian:

Andy Harris, consultant to energy company Neon Reef, warned this morning the energy market was in the middle of a “perfect storm”, following the surge in wholesale prices this year.
“I think it is a market that is set up to fail and my confidence in (regulator) Ofgem is somewhat diminished,” he told the BBC’s Today programme.
          “We have a price cap and it’s right that consumers aren’t exposed to extremes and are put in a position where they have bills that they simply cannot afford to pay.

“Unfortunately the solutions that have been put in place by Government and Ofgem are such that all of the risk falls onto the shoulders of suppliers

“By definition then, when you hit a perfect storm as we are in now, it is only the suppliers with the broadest shoulders that are able to absorb those losses.”

The price cap rose at the start of this month, and is expected to jump next spring when it is next updated.

Ultrasonic

Petriix said:

It's no bother to me if I have a trail of SOLRs who all need to figure out how much is owed.

It might be if you find that the first 'answers' that the various energy providers come up with don't match your own calculations, and you then end up having to put time and effort into sorting it out. You may well feel it's worth the risk or you time but it's perfectly sensible for many to stay well clear of this possibility IMHO.

An added complication for many is that Neon Reed is an electricity-only supplier, so as well has having mulitiple potential SOLRs, we're also talking different SOLRs for different fuels.

wittynamegoeshere

I keep thinking that "NR" is Northern Rock.

Foreshadowing!

Let's start a sweepstake, first prize is one million worthless Neon Reef shares.  I'm saying Wednesday 20th.

Farway

brewerdave said:

petter2 said:

Anyone else missing their latest bill? I usually got my bill around the 27th/28th but it's the 14th now and I am still missing the September bill. Not a good sign

Had my NR monthly statement on time on the 11th

Had mine yesterday, 13th