Neon Reef - any views?

elucidate

QrizB said:

Deleted_User said:

Interesting to note that, as per today's Ofgem bulletin, despite the current climate (pun intended), there are still companies out there applying for energy supply licences, namely Alaska Energy Ltd, registered in Leicester.  

Hmm, yet another energy company named after a US state, to go along with Colorado Energy (now bust), Mississippi Energy, Idaho Energy and all the other Dyball Associates companies (which include Neon Reef - previously Oregon Energy).

But I'm sure you noticed that, which is why we're discussing it in the Neon Reef thread

Mind. Blown. 

[Deleted User]

Mine too, now. I hadn’t actually clicked on the Dyball link before. I’ll be keeping a keen eye out for Dodo Energy in particular…

Jinglish

All looks very suspicious, hope OFGEM can actually tie the links

MWT

Jinglish said:

All looks very suspicious, hope OFGEM can actually tie the links

I would be more interested in the views of the Administrators of the failed entities as they review the dealing between the loosely related companies and their various directors...

Jinglish

I mean tie the links when issuing a new licence

MWT

Jinglish said:

I mean tie the links when issuing a new licence

Within their current remit I don't think it makes a difference if they do or not, the concept of the 'supplier in a box' does not break any rules AFAIK, so although fully aware of the links, they would not be able to reject the application.

elucidate

I've been wondering how Colorado Energy even got its name. Now I've understood it was originally meant to be a holding name.

Jinglish

So someone can buy an "Off-the Shelf" energy supply business from Dyball, get a licence from OFGEM and operate how they like? Just like Neon Reef are doing and the folded COLORADO/AVRO/GREEN/UP from the same group. Seems to me like a hole of exploitation, alarms bells should ring for another "state" company entering the market at this time. Perhaps OFGEM should put new licences on HOLD until this blows over.

dbks

Jinglish said:

So someone can buy an "Off-the Shelf" energy supply business from Dyball, get a licence from OFGEM and operate how they like? Just like Neon Reef are doing and the folded COLORADO/AVRO/GREEN/UP from the same group. Seems to me like a hole of exploitation, alarms bells should ring for another "state" company entering the market at this time. Perhaps OFGEM should put new licences on HOLD until this blows over.

Yes, or they could just start their own company for £20 and get a licence from Ofgem. Probably a lot of work to do going that way, and lots of possibilities of getting it wrong.
Don't know how much Dyball charge for a company properly set up to sell energy, but I bet it's a lot more than £20.

This was discussed here.
https://forums.moneysavingexpert.com/discussion/comment/78651610#Comment_78651610

[Deleted User]

@Jinglish So a bit like buying web domains and addresses? I could buy up anything related to 'Jinglish', and then try to sell it to you at a premium.