Tulo Energy UK Cheapest Energy

MattyB1980

Hi All

New to the forum just wanted to know if anyone has used a company Tulo Energy. A friend of mine told me they've launched a Tracker tariff at £1999 so below the price cap

I've been on the site and the only way to get the price seems to be with a code my friend gave me (Removed by Forum Team)

Has anyone used this company before? - seems from what I can see to be the cheapest deal for energy currently

Thanks

Matt

[Deleted User]

A quick look at Companies House shows 3 employees (as at 2022). The company was previously Square 1. 

Tulo Tracker also appears to be a fixed term contract and there is absolutely no information on the website as to what the tariff actually tracks.

All new suppliers tend to make losses as they build a customer base: that said, offering a tariff c.20% below the Cap (if that is the case) is a high-risk strategy imho.If it looks too good to be true………

The_Green_Hornet

Tulo Energy Limited was incorporated on 7 July 2023 and falls under Tulo Group Holdings Limited which in turn has significant control of a company called Square 1 Energy Limited.

Square1 Energy Limited is licensed by Ofgem and is one of many energy companies associated with Dyball Associates Ltd.

Another company associated with Dyball Associated Ltd. was Neon Reef Limited which ceased trading on 16 November 2021 with customers transferred to British Gas.

I am sure that Ofgem has done their usual due diligence.

[Deleted User]

Another company associated with Dyball Associated Ltd. was Neon Reef Limited which ceased trading on 16 November 2021 with customers transferred to British Gas.

And according to this article, a few other companies known to people on this forum:

https://www.dailymail.co.uk/news/article-10028689/The-man-whos-fortune-helping-set-SEVEN-collapsed-energy-suppliers.html

This was Dyball’s response:

https://www.dyballassociates.co.uk/dyball-s-statement-regarding-media-reports

MattyB1980

I dont think its 20% cheaper according to Ofgems website Price cap is £2074 so its £75 cheaper for average households

Its not fixed for any period I think its variable so prices may fall or rise as it tracks the actual market price

Seems a good deal to me just wondered if anyone has any experience with the company 

MattyB1980

You need a promo code to get a quote but looks like forum moderators have removed it from my original post 

GingerTim

MattyB1980 said:

You need a promo code to get a quote but looks like forum moderators have removed it from my original post 

That's because referral codes aren't allowed on the forum.

[Deleted User]

Seems a good deal to me just wondered if anyone has any experience with the company 

Given that Tulo Holdings only took on an ‘interest’ a week ago that might be a challenge. 

What makes you think that is variable? I am seeing this when I look at the website:

Variable tariffs do not usually have a contract end date. I can see nothing in the ts and cs.

MattyB1980

That's the information my friend gave me who works as a broker for SMEs. It doesn't look like its has a duration or exit fee looking at your screenshot

[Deleted User]

MattyB1980 said:

That's the information my friend gave me who works as a broker for SMEs. It doesn't look like its has a duration or exit fee looking at your screenshot

No exit fee but there is a contract END DATE of 12th July 2024. My reading of that is if the cap was to increase in October; January or April, then the rates offered would not be changed. I am not sure that I would sign up to anything on the advice of a friend without doing my own form of due diligence first. Sadly, the website is a bit short on detail.

Having said that, Tulo is probably a perfectly legitimate new energy supply company: hoping to be the next Octopus. I am familiar with their business premises (I used to walk past twice a day on my way to and from work). Granta Lodge in Malvern is the home of a very reputable accountancy firm.

MattyB1980

[Deleted User] said:

MattyB1980 said:

That's the information my friend gave me who works as a broker for SMEs. It doesn't look like its has a duration or exit fee looking at your screenshot

No exit fee but there is a contract END DATE of 12th July 2024. My reading of that is if the cap was to increase in October; January or April, then the rates offered would not be changed. I am not sure that I would sign up to anything on the advice of a friend without doing my own form of due diligence first. Sadly, the website is a bit short on detail.

Having said that, Tulo is probably a perfectly legitimate new energy supply company: hoping to be the next Octopus. I am familiar with their business premises (I used to walk past twice a day on my way to and from work). Granta Lodge in Malvern is the home of a very reputable accountancy firm.

Dont Octopus owe the taxpayer like £3 Billion I read?

Just spoke to someone on the chat and they said its variable and they think the end date thing is a mistake on their site. The tariff tracks the market so if it falls they will reduce rates and increase if the opposite happens but you still get the protection of the price cap. He also told me they've been going since 2017 just recently rebranded