Neon Reef Variable Tariff

greyteam1959

Thinking of switching to Neon Reef.
But the variable tariff concerns me.
It could go up massively could it not ??

brewerdave

But if its variable, you can leave without penalty if you find a cheaper deal.

rp1974

Yes,it could.Think Neon Reef are missing out on customers by not offering a fixed tariff.

brewerdave

rp1974 said:

Yes,it could.Think Neon Reef are missing out on customers by not offering a fixed tariff.

But massively reducing their risk - I suspect that many of the supplier failures over the past 2.5 years have been down to rock bottom pricing on 1 and 2 year fixes.

greyteam1959

Thanks for the comments 
My Utility Point dual fuel deal is up for renewal & their standing charges are getting silly now.
I'm thinking of 2 separate suppliers now but worried about getting twice the problems by doing so 

Talldave

greyteam1959 said:

Thinking of switching to Neon Reef.
But the variable tariff concerns me.
It could go up massively could it not ??

Yes.  It could go up an incy wincy bit too, or go down.  That's the gamble you take in passing on fixes and staying variable.  If prices start to rise, you'll have missed the best fixed rate deals.  But every month you stay at the lower price is a bonus, and there's no penalty for bottling out onto a fix at any point in the future.

Gerry1

Neon Reef have withdrawn their Aqua 1 variable tariff.  It's been replaced by Reef 1 which is a more expensive fixed tariff with a £36 exit fee.

No word about existing customers: my account still shows I'm on Aqua 1 at the original prices.

Wonder how long it will last, and whether the CEC will now list them?

rp1974

Was considering going to Neon Reef variable,they pulled it on 14/10/20 so stayed with Symbio instead.Dont see why Neon Reef couldnt offer one fixed,one variable though.

Hasbeen

Neon Reef now to expensive for me now. Reef 1.

 Aqua1 was a few pounds more at the time.
Stayed with symbio variable.

See what happens? All my electric suppliers eventually go bust though. 

UnclaimedEnergy

Hasbeen said:

See what happens? All my electric suppliers eventually go bust though. 

Their variable tariff will just be unavailable for new customers and you'll stay on it until they decide to close the tariff down. You'll probably see a price increase at some point in the near future though to just about their fixed, therefore encouraging people to move onto the fixed

If you always go for the cheapest supplier then they will all end up going bust.

Most of these suppliers are pricing £100+ below cost and the directors are only bothered about filling their pockets while running the company into the ground.

If that's who you want to give your money to then that's your decision.