Neon Reef - any views?

CRISPIANNE3

CRISPIANNE3 said:

MWT said:

CRISPIANNE3 said:

I have tried to contact NR but as usual no response. So who is supplying me at the moment is very much up in the air. 

Check with your DNO to see who they think it is...

Just checked and Neon Reef still shown as my supplier. I understand both parties have to agree this was an  erroneous transfer and if they do the supply is past back to the former supplier. However if Symbio are just going to ignore the request the nothing can be resolved. Ok the problem is my own making in the first place but I thought at the time I was just excerising my rights under the cooling off period.

Also NR have already cancelled my dd.

Since my last posting Neon Reef have not put the new dd in place and despite many emails to them they are just ignoring me now. Also checked with  Western Power and they are still shown as my supplier. 

As I originally did  the switch on the 4 October I would have thought Symbio would have passed Neons Reef request to E.on Next. 

Petriix

Still trading on a Friday = another weekend of cheaper electricity.

elucidate

Surely at some point the government would have to (at least temporarily) form a state-owned energy company to be the SoLR? A bit like the East Coast railway franchise? 

MWT

elucidate said:

Surely at some point the government would have to (at least temporarily) form a state-owned energy company to be the SoLR? A bit like the East Coast railway franchise? 

They have already prepared for this, the team that would run it are picked and ready to go.

The trigger will probably be the failure of a supplier large enough to have no offers to act as SoLR.

DiseasedBunny

Petriix said:

Still trading on a Friday = another weekend of cheaper electricity.

Go NR! Show these other companies how to keep trading over the winter!

MWT

DiseasedBunny said:

Petriix said:

Still trading on a Friday = another weekend of cheaper electricity.

Go NR! Show these other companies how to keep trading over the winter!

There is no particular magic to achieving that, it just requires that they have an investor with sufficiently deep pockets and a willingness to fund the losses.
I'm sure that there will be a lot of interest in the accounts for this period when they are eventually published

wittynamegoeshere

I'd like to think that the directors know all about the risks of trading while insolvent.

They must have a magic money tree that they use to pay all their bills, this is the only possible explanation.

Petriix

MWT said:

elucidate said:

Surely at some point the government would have to (at least temporarily) form a state-owned energy company to be the SoLR? A bit like the East Coast railway franchise? 

They have already prepared for this, the team that would run it are picked and ready to go.

The trigger will probably be the failure of a supplier large enough to have no offers to act as SoLR.

No, the Government have a private company lined up to profit hugely at our expense for doing the work required should a bigger company go bust. There's a significant distinction.

There should be a state energy company which is run to break even and automatically becomes the SoLR. Rather than imposing a price cap on the market, they should just always offer a 'price cap equivalent' tariff which anyone can switch to.

wittynamegoeshere

I understand that the company lined up will be merely administering the running of the failed company.  I doubt that they're just going to hand over the keys and ownership, it will remain in administration and presumably its assets would be sold to raise funds to pay its debts.  There would be nothing to stop the govt taking ownership later.

I really hope that this govt can put its free market principles aside and accept that privatising an absolute monopoly was always a stupid idea.  Hopefully if those who decided it all in the past have retired then we can move on instead of flogging the dead horse that the supposed energy market has become.

WillPS

Petriix said:

MWT said:

elucidate said:

Surely at some point the government would have to (at least temporarily) form a state-owned energy company to be the SoLR? A bit like the East Coast railway franchise? 

They have already prepared for this, the team that would run it are picked and ready to go.

The trigger will probably be the failure of a supplier large enough to have no offers to act as SoLR.

No, the Government have a private company lined up to profit hugely at our expense for doing the work required should a bigger company go bust. There's a significant distinction.

There should be a state energy company which is run to break even and automatically becomes the SoLR. Rather than imposing a price cap on the market, they should just always offer a 'price cap equivalent' tariff which anyone can switch to.

That would entirely defeat the point of the price cap, which was to stop people who don't/can't switch from being jacked.