CIO of Neon Reef on R4 Now!

gsmh

The Chief Information Officer of Neon Reef, Andy Harris, is on Radio 4 right now (0715). He's talking about the SOLR and how all smaller suppliers are facing similar problems. He didn't say much of substance, but he certainly wasn't announcing the demise of his company.

MABLE

The question is what are they doing differently to other small companies. How can they afford to sell electricity so cheaply.  

MWT

CIO, not CEO

gsmh

MWT said:

CIO, not CEO

That's what I said!

MWT

gsmh said:

MWT said:

CIO, not CEO

That's what I said!

The thread title still says 'CEO'

Edit: ... and now fixed, thanks.

ozuma

MABLE said:

The question is what are they doing differently to other small companies. How can they afford to sell electricity so cheaply.  

They only sell electricity.
They are not particularly cheap (but are competitive which they need to be if they are to attract customers from other suppliers)

e.g. we pay 17.3p /kWh for our electriciity (as part of a 12 month fix, dual fuel tariff with no exit fee, and no seasonal billing, tariff ends Sept 2022.)

Neon Reef could cost us 16.5p /kWh based on a 12month fix, early exit fees apply, and 6up/6down billing
Or they would charge us 18.5p /kWh based on a 12month fix, early exit fees apply, and 6up/6down billing comparison site exclusive tariff
Or they would charge us 18.5p /kWh based on a variable tariff, no early exit fee
Or they would charge us 20.5p /kWh based on a 24 month fix, early exit fees apply, and 6up/6down billing for initial 12 months

ozuma

Also, another possible reason could be that following the mass exodus from NR that was reported in the NR thread, (when everyone was said to have switched to Symbio at 12p/kWh or less)   then perhaps NR has an excess of forward purchased electricity to offload.

It's then a commercial decision as to whether to offload such forward purchase (for profit at today's prices) or take that opportunity to recover some of the lost custom that they experienced in the mass exodus we were all led to believe took place.