Is Neon Reef worth the risk?

MWT

Petriix said:

I'm not seeing a risk. Just cheap prices until they go bust. The price with whatever SoLR will be the price cap anyway. 

Ultimately this is the bit that needs fixing somehow.

Not blaming you for one minute, but when the system allows predatory pricing with zero risk to those who choose to go there, with the costs of supplier failure being picked up by the rest of the industry and consumers, it allows and even encourages market distorting behaviour and a short-term focus on cash generation rather than building a robust long term sustainable business...

DiseasedBunny

I’d go for it - the doom mongers on here have been predicting NR’s demise for weeks yet they are still there…

tghe-retford

DiseasedBunny said:

I’d go for it - the doom mongers on here have been predicting NR’s demise for weeks yet they are still there…

The same thing was said about Symbio into September.

QrizB

Bionik said:

EssexHebridean said:

is the fix as cheap as a standard variable rate from elsewhere? That seems fairly unlikely at this point - certainly a "fix" quote from them on our use is more than we're currently paying. Regardless though, the smart money does seem to be on them not surviving for much longer, so you could find yourself back with a SoLR sooner rather than later anyway, having wasted time on switching. 

My BG tariff is 24p kwh day rate and the standing charge the same.
Neon is 18p kwh day rate and 17p standing charge.

Being on E7 is a problem, the single-rate tariff would be more like 21p/kWh.

For 2900kWh/yr (the Ofgem average), NR would cost £584/yr vs. ~£700/yr on a single-rate capped tariff. You could save ~£115 if Neon Reef last another 12 months.