Anyone heard of HomeEnergy?

artyboy

Well I'm with them - they are currently priced about 11% below cap rates and frankly I'm pretty hardened to the SoLR process so while it's cheap and still trading, I'm all good.

mbl19700

Did you find out if they are a reputable supplier? I’m thinking of switching to them too. 

Makemydeal

Just searched for tariffs, and "Home Energy, Duel Fuel" was my cheapest quote. Think I'll switch to them. OFGEM regulated, Direct debit guaranteed, Price Capped. Variable rate is 12% lower for me.

Gerry1

Makemydeal said:

Just searched for tariffs, and "Home Energy, Duel Fuel" was my cheapest quote.

Hope it doesn't end that way !

Spoonie_Turtle

dealdudeuk said:

Personally I'd avoid them like the plague!

Their address is just a registered address along with 27 other businesses at a very ropey house in Leicester (11 Granville Rd, Leicester LE1 7RU)

They appear to be in significant debt of £437,000 and only £18,000 of assets. No staff

Would you trust them with your home energy supply and your personal details including bank account etc…? 

Not Me, Not worth the risk in my opinion

Google street view shows it looking a rather nice building converted to offices, presumably an accountants.  A similar manner in which vast numbers of legitimate small companies are registered.

[However the rest of the details certainly aren't those of a business I'd trust to reliably supply our electricity.]

Scot_39

dealdudeuk said:

Personally I'd avoid them like the plague!

Their address is just a registered address along with 27 other businesses at a very ropey house in Leicester (11 Granville Rd, Leicester LE1 7RU)

They appear to be in significant debt of £437,000 and only £18,000 of assets. No staff

Would you trust them with your home energy supply and your personal details including bank account etc…? 

Not Me, Not worth the risk in my opinion

Sound more like a typical sole trader small  business  type setup than a serious / medium to large supplier.

As many "directors" do register with accountants address rather than home  - as it is an open register at companies house.

And with even the big 6 in debt - was it £3bn - perhaps debt not the best metric.

Ofgem have tightened some of the rules - and proposed others like on ringfencing of CCB - but those don't come in until next year now iirc.

If attracted by rates - might even be possible to join them prepay or mvdd - if they allow it - if at cheaper rates cf others, to minimise your financial exposure if worried.

Plenty of people were benefitting from cheap rates at other suplliers who failed - the injustice was all had to pay for the failures of many of them and Ofgem as regulator - despite never saving on energy with them.

born_again

Makemydeal said:

Just searched for tariffs, and "Home Energy, Duel Fuel" was my cheapest quote. Think I'll switch to them. OFGEM regulated, Direct debit guaranteed, Price Capped. Variable rate is 12% lower for me.

Aside from a old thread.

Which bit of DD guarantee are you thinking protects you?

Makemydeal

artyboy said:

Well I'm with them - they are currently priced about 11% below cap rates and frankly I'm pretty hardened to the SoLR process so while it's cheap and still trading, I'm all good.

Had similar experience in the past with suppliers going bust. I never lost any money and my lights stayed on.

Chrysalis

Interesting.

https://www.leicestermercury.co.uk/news/leicester-news/fraud-aggressive-sales-allegations-dropped-7649427

Octree

I switched away from them several weeks ago. Still awaiting my refund of over £800 credit. Contacted them today and they have "internal issues" which are preventing them generating a final bill. Reassured me that due to the lateness they have to add £30 compensation as per Ofgem regulations. Said it would be done by the end of the week but then would be up to 10 working days to receive the refund.

I sense a sinking ship. Hopefully everything works out but at least my credit is protected I suppose.