Green.Energy - 10% extra on top ups - *Extended 1st Feb*

brewerdave

UnclaimedEnergy said:

JonH36 said:

As others have speculated this is surely down to cash flow; it's a tough time for Small/Medium domestic suppliers, especially those with a good growth rate; the cold snap coupled with high system prices will be painful to bear for short positions and imbalance.

Green.Energy will definitely be in the same positions, however they're been active in trying to get customers to invest in them through both online funding (kickstarter maybe? I dunno) and now the 10% credit top ups. Reducing the amount of monetary payouts they would need to do if they do go bust.

I'm just migrating away from Green - no complaints and would have stayed BUT the renewal quote would have added £240 pa.to my electricity bill!! I suspect I won't be alone as the Ampere tariff was exceedingly attractive last Jan/Feb . Wasn't inclined to lend them £1000+ to get the increase down to the competitor's quote !

warmy

brewerdave said:

UnclaimedEnergy said:

JonH36 said:

As others have speculated this is surely down to cash flow; it's a tough time for Small/Medium domestic suppliers, especially those with a good growth rate; the cold snap coupled with high system prices will be painful to bear for short positions and imbalance.

Green.Energy will definitely be in the same positions, however they're been active in trying to get customers to invest in them through both online funding (kickstarter maybe? I dunno) and now the 10% credit top ups. Reducing the amount of monetary payouts they would need to do if they do go bust.

I'm just migrating away from Green - no complaints and would have stayed BUT the renewal quote would have added £240 pa.to my electricity bill!! I suspect I won't be alone as the Ampere tariff was exceedingly attractive last Jan/Feb . Wasn't inclined to lend them £1000+ to get the increase down to the competitor's quote !

Same here I’m now leaving green had a few issues with billing towards the end but apart from that they were ok.
I too was on Ampere and the renewal was quote would of added £200+ to bill didn’t like the sound of paying lots for 10% back if you get it

Farway

I'm yet another leaving Green, would have stayed if the increase was only a few quid but it wasn't.

My assumption is many are leaving & the income is drying up, hence the offer

Haarlem

They have added my top up to my account, but not the 10%.  I added the top up on 25th January.
Does anyone know when they add that the top up?

[Deleted User]

Haarlem said:

They have added my top up to my account, but not the 10%.  I added the top up on 25th January.
Does anyone know when they add that the top up?

Up to 60 days to credit according to the T&C:

2.2 The delivery of the Offer will be added to the Customer Balance within or on 60 days of initially Topping Up.

Inigo_Montoya

still waiting for my 10% extra so I assume they will add it on day 60 now assuming they honour the offer

imaginary_80s

Inigo_Montoya said:

still waiting for my 10% extra so I assume they will add it on day 60 now assuming they honour the offer

Still waiting for mine too, I check every day! By my calculation, the 60th day is 2nd April, so not long now.

imaginary_80s

Well, my 10% bonus has just shown up on my Green account balance today - all £500 of it! Green have said they can refund entire in-credit balances back to customer's bank accounts, with the exception of needing to keep an amount equivalent to one months' direct debit on the account. They say:

"We are able to refund any credit balance for live customers which is over one months' worth of their direct debit. For example, if your credit was £200.00 and your direct debit was £150.00 a month, we could refund £50.00 subject to a few checks on your account.

We need to make sure there is an accurate bill on the account to customer given readings. This makes sure your account balance is accurate before we refund any credit to you.

You can give meter readings and request a refund through LiveChat if you meet these conditions."

So I intend to transfer out as much of the account balance as possible and enjoy my £500 bonus! Not a bad return for a 60-day £5k loan to Green (well, 58 days in the end). 

Bacman

Their Lamont tariff is a 2 year fixed and their prices are worth checking out; plus of course (assuming they stay trading) a 2 year fixed rate...

UnclaimedEnergy

imaginary_80s said:

Well, my 10% bonus has just shown up on my Green account balance today - all £500 of it! Green have said they can refund entire in-credit balances back to customer's bank accounts, with the exception of needing to keep an amount equivalent to one months' direct debit on the account. They say:

Damn that is insane that they're letting customers just refund the credit balances minus maybe £100.

Will be amazing if they now have the on-going cash flow required to do this for everyone who took them up on the offer and maxed out.