Neon Reef - any views?

spot1034

wittynamegoeshere said:

It doesn't really make any difference what you or I think or state, if anyone reading this decides not to sign up or to leave them then it actually REDUCES their losses and makes them LESS likely to go bust.  That is the crazy version of reality at the moment and why their behaviour defies any reasonable logic.

I couldn't really claim that I told anyone so if they do go bust, it's widely expected by lots of people who are far better paid and qualified...

https://news.sky.com/story/energy-watchdog-ofgem-braced-for-fresh-wave-of-supplier-collapses-12432354

Analysts named Ampower, Zebra Energy and Neon Reef among those that were potentially at risk of collapse.

Why would any company that was not at risk of collapse not have something to say about these kinds of reports?

They could have said 'observers' rather than analysts. If it's someone who in some way works in the sector, that doesn't necessarily mean they've done a detailed study of Neon Reef's finances but just that they know a bit about this sort of thing and what Neon Reef is doing just just doesn't feel right. It could mean someone who has just looked at what is available via a comparison site, or even someone who reads this forum. It could be any of us!  

[Deleted User]

@MWT So essentially, you seem to be saying that you resent the customers of all the failed companies, for being stupid enough to go with them, and now costing you more money through the mechanism of the support levy, that the clever and sensible companies are forced to contribute to, and take up the slack. Is that fair? 

Who granted the licences in the first place? Should they not be held accountable? Should they not have exercised due diligence? Should we not trust ‘industry experts’? Or were they caught out, like everyone else, by a perfect storm of circumstances? 

QrizB

wittynamegoeshere said:

You'll need to have words with Sky News, ITV, BBC and several newspapers among many others to stop going on about it then, if you want everyone in the world to pretend all is well with this strangely silent company.

"Strangely silent"? Their CIO was on R4 yesterday:
https://forums.moneysavingexpert.com/discussion/6304529/cio-of-neon-reef-on-r4-now

I haven't checked BBC Sounds but there's probably a recording there, if you want to hear what he said.

Edit: This link, from 1:13:30
https://www.bbc.co.uk/sounds/play/m0010f8v

MWT

Deleted_User said:

@MWT So essentially, you seem to be saying that you resent the customers of all the failed companies, for being stupid enough to go with them, and now costing you more money through the mechanism of the support levy, that the clever and sensible companies are forced to contribute to, and take up the slack. Is that fair?

That's a heck of a stretch from 'reasonable vested interest' and 'informing' potential customers to assuming resentment and ascribing consumer choices to being 'stupid'.

No, I certainly don't resent customers of failed companies, nor regard the customers as stupid.

The levy is a part of the structure that we've all had to deal with and company failure is a cost for us all to bear.

The only aspect of this that would cause me particular concern is it if turned out after appropriate and proper investigation that certain business owners and managers had cynically manipulated the safety net provisions to enable them to profit personally from the safety mechanisms and the consumer confidence that they underpin.

That hasn't happened yet, and may never happen, but if it does then yes, that would be a cause of concern.

paulbounty3

This is from Neon Reef 

We are continuing to grow and have no plans to cease trading.

Shedman

Good news if true.  What's the source of that quote?

molerat

Deleted_User said:

Ofgem has just announced British Gas as SOLR for MoneyPlus and PFP in its daily email bulletin.

No mention of Pure Planet or anything else…

Publication date

10 September 2021

......................

bristolleedsfan

Shedman said:

Good news if true.  What's the source of that quote?

16th most recent T.P review as of now, only reply from N.R

Ultrasonic

A source would be good as requested, but realistically a spokesperson for Neon Reef is unlikely to say any different no matter what. Pure Planet were putting out similarly positive statements pretty recently.

Edit: cross-posted!

grandadgolfer

bristolleedsfan said:

Shedman said:

Good news if true.  What's the source of that quote?

16th most recent T.P review as of now, only reply from N.R

Oh well if its via TP it must be true