Neon Reef - any views?

Shedman

GingerTim said:

Neon Reef are now officially at a Level 2 credit default on Elexon (their code is OREG): https://www.bmreports.com/bmrs/?q=balancing/creditdefaultnotice

Some companies have cleared their defaults, others haven't - including NR. That sound you hear may be the bell tolling...

Got past Hallowe'en though didnt they...

GingerTim

Shedman said:

GingerTim said:

Neon Reef are now officially at a Level 2 credit default on Elexon (their code is OREG): https://www.bmreports.com/bmrs/?q=balancing/creditdefaultnotice

Some companies have cleared their defaults, others haven't - including NR. That sound you hear may be the bell tolling...

Got past Hallowe'en though didnt they...

Haha! True - though I've still got my original guess of by Christmas before I have to start turning my shoes into soup.

EssexHebridean

TonySimon said:

So this seems like dowright scare mongering to me.

No it's not  - it would be very surprising to many here if NR stayed afloat for much longer.

When you say you are owed a refund, do you mean you have left them and there is a credit balance for them to physically return to you, or do you mean that you are still with them and currently have a credit balance? either way, you're protected. If the latter then aside from probably finding increased bills due to the new tariff you are moved to being more expensive (but still on a par with what everyone else on a variable tariff will be paying) you're not in any different position than you are right now. If the former, you may have to wait longer than usual for that refund to be processed to you. 

grandadgolfer

I get the impression some people on here wont be happy until NR go bust

Liku

Hoping they go on a bit longer. I really tried to turn the thermostat down a bit but it was going to become dangerous for my health. Although I don't want to, I will have to talk to whoever takes it over and hope I can get the warm home discount. Maybe they will be nice (no chance!)

I just hope I don't end up with Eon Next. They are behaving pretty badly with my mother just as Npower did before. Big credit and they claim they need to put up the payments for winter when she has LPG for heating/hot water so the bills aren't going to go up massively. 

ivanleo

"Omni Energy Limited, MA Energy Limited, Zebra Power Limited, and Ampoweruk Ltd have today announced they are ceasing to trade."

https://www.ofgem.gov.uk/publications/ofgem-protects-customers-omni-energy-limited-ma-energy-limited-zebra-power-limited-and-ampoweruk-ltd

Surely NR must have cleared the 300k or else they'd be on that list?

CRISPIANNE3

Just received another email from Dave at NR advising me to reset up my direct debit so payments can be taken. However this will be the 21st time I have sent through the mandate via their secure link. 

BigBlueSky

CRISPIANNE3 said:

Just received another email from Dave at NR advising me to reset up my direct debit so payments can be taken. However this will be the 21st time I have sent through the mandate via their secure link. 

I'm waiting for them to action mine.  I did chase them up many times, and they have replied to each separate e-mail starting again too.  I think they are trying to work through their backlog of emails.

[Deleted User]

grandadgolfer said:

I get the impression some people on here wont be happy until NR go bust

Which isn’t very community spirited really, is it? A point I have made before, but which fell on deaf ears. 

MWT

ivanleo said:

"Omni Energy Limited, MA Energy Limited, Zebra Power Limited, and Ampoweruk Ltd have today announced they are ceasing to trade."

https://www.ofgem.gov.uk/publications/ofgem-protects-customers-omni-energy-limited-ma-energy-limited-zebra-power-limited-and-ampoweruk-ltd

Surely NR must have cleared the 300k or else they'd be on that list?

No, it doesn't work like that.

This new list is for those who have told Ofgem that they are ceasing to trade, it is perfectly possible for a supplier to have failed to pay up and yet still not have approached Ofgem to get permission to cease trading as required under the license conditions.

Neon and others could still be playing 'chicken' with Ofgem to see if Ofgem will take the steps to force them to cease trading by removing their license rather than deciding to do it for themselves...