Tomato Energy (Electric Only Supplier) - Too Good To Be True ?

MWT

Newbie_John said:

For those already on board - that's good news really - if they found them struggling with money they would be shut down, but they just continue preventing their growth until they fix their underlying issues - which is very expected.

Ofgem already found they were 'struggling with money' and stopped them from taking on new customers while they dug into the concerns.

Now Elexon have also blocked them from doing anything new for reasons beyond just money, and that continues to bring the overall management capability into question.

The odds of Ofgem deciding to let them continue will have reduced after this decision.

Newbie_John

QrizB said:

Newbie_John said:

So nothing really changes, all it says no new customers any time soon?

Elecon could kick them out of the market, which would precipitate their failure.

They could. But they haven't, and there's a reason for that - they have some hope.

For an existing customer - nothing really changes.

debitcardmayhem

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Ildhund

MWT said:
The odds ... will have reduced after this decision.

<pedant_alert>
When odds change, they are either lengthened or shortened. Lengthening indicates the event is less likely to happen, shortening more likely. Since reduce ('make smaller') is more akin to shorten than lengthen, I suspect that what you wrote is the opposite of what you meant 🙂
</pedant_alert>

masonic

Newbie_John said:

QrizB said:

Newbie_John said:

So nothing really changes, all it says no new customers any time soon?

Elecon could kick them out of the market, which would precipitate their failure.

They could. But they haven't, and there's a reason for that - they have some hope.

For an existing customer - nothing really changes.

A process has been kicked off by Ofgem. It is very likely that Elexon will work in tandem with Ofgem to see this through via the Provisional Order. The Elexon meeting on the 8th May coincided with the deadline Ofgem imposed for the issues raised by Ofgem to be resolved. We now know that as at 8th May there was continuing evidence that TE is failing in its legal and regulatory obligations. This makes it very likely indeed that the Provisional Order will be confirmed and a notice to rectify will be issued, likely based upon Elexon's milestones and anything arising from the independent report they (presumably) turned in by the 1st May deadline.

But you are right that for an existing customer, nothing changes, as the threat of expulsion from the BSC existed since the first notice of default was issued.

It looks like it will cost me £4 not to remain a TE customer through May. I think I can live with that. If things do get sorted out I was always open to rejoining for some substantial winter savings. However, this now seems vanishingly unlikely.

MWT

Ildhund said:

MWT said:
The odds ... will have reduced after this decision.

<pedant_alert>
When odds change, they are either lengthened or shortened. Lengthening indicates the event is less likely to happen, shortening more likely. Since reduce ('make smaller') is more akin to shorten than lengthen, I suspect that what you wrote is the opposite of what you meant 🙂
</pedant_alert>

The odds expressed as an implied probability percentage have reduced.... happy now?

HillStreetBlues

MWT said:

Ildhund said:

MWT said:
The odds ... will have reduced after this decision.

<pedant_alert>
When odds change, they are either lengthened or shortened. Lengthening indicates the event is less likely to happen, shortening more likely. Since reduce ('make smaller') is more akin to shorten than lengthen, I suspect that what you wrote is the opposite of what you meant 🙂
</pedant_alert>

The odds expressed as an implied probability percentage have reduced.... happy now?

Good save

Newbie_John

masonic said:

Newbie_John said:

QrizB said:

Newbie_John said:

So nothing really changes, all it says no new customers any time soon?

Elecon could kick them out of the market, which would precipitate their failure.

They could. But they haven't, and there's a reason for that - they have some hope.

For an existing customer - nothing really changes.

 I think I can live with that. If things do get sorted out I was always open to rejoining for some substantial winter savings. However, this now seems vanishingly unlikely.

The only things that fail in this thread are predictions when tomato will shut down. We've seen some many of them - most notable Easter a month ago. Same as exaggerating SOLR.

None of that is based on any recent examples.
Take a look at outmarket the fox, they've been banned for 2 years till they were allowed to get more customers on board.
Take a look at Rebels SOLR process - all smooth.

MWT

Newbie_John said:

masonic said:

Newbie_John said:

QrizB said:

Newbie_John said:

So nothing really changes, all it says no new customers any time soon?

Elecon could kick them out of the market, which would precipitate their failure.

They could. But they haven't, and there's a reason for that - they have some hope.

For an existing customer - nothing really changes.

 I think I can live with that. If things do get sorted out I was always open to rejoining for some substantial winter savings. However, this now seems vanishingly unlikely.

The only things that fail in this thread are predictions when tomato will shut down. We've seen some many of them - most notable Easter a month ago. Same as exaggerating SOLR.

None of that is based on any recent examples.
Take a look at outmarket the fox, they've been banned for 2 years till they were allowed to get more customers on board.
Take a look at Rebels SOLR process - all smooth.

I admire the unbounded optimism, but the concerns about what would happen in a SoLR situation are real, as there has not yet been a supplier failure involving half-hour based tariffs, so that is unknown territory.

For the rest, we just have to wait and see if they can get their finances back in compliance or not, and the recent Elexon decision doesn't suggest they were on track to do that, but there is still a little time left if Tomato are going to take this seriously...

masonic

Newbie_John said:

masonic said:

Newbie_John said:

QrizB said:

Newbie_John said:

So nothing really changes, all it says no new customers any time soon?

Elecon could kick them out of the market, which would precipitate their failure.

They could. But they haven't, and there's a reason for that - they have some hope.

For an existing customer - nothing really changes.

 I think I can live with that. If things do get sorted out I was always open to rejoining for some substantial winter savings. However, this now seems vanishingly unlikely.

The only things that fail in this thread are predictions when tomato will shut down. We've seen some many of them - most notable Easter a month ago. Same as exaggerating SOLR.

None of that is based on any recent examples.
Take a look at outmarket the fox, they've been banned for 2 years till they were allowed to get more customers on board.
Take a look at Rebels SOLR process - all smooth.

I think it's been pointed out before, but Rebel weren't offering TOU tariffs, and there were not a cohort of customers who were failing to be billed as a result of historic missing data, holding on to the hope of it being written off in time. I don't think we have any precedent for HHDC and SoLR. All previous failures have involved traditional NHHDC tariffs. With HHDC all customers would be expected to have a gap between the data TE has at the point of failure and the meter reading they provide SoLR. Contractually, it looks like all missing data including any gaps within the last 12 months would be billed at TE's Prime rate. Not a problem if it is just half a day or so at the end, and a few missing HH here and there.

Still, even without TOU, there have been some issues ex-Rebel customers have faced. For example, being in dispute with Rebel over the opening meter reading used (an issue many of us have had with TE, including me).

Whereas Outfox's ban, IIRC was over customer service failings. A very different kettle of fish.

I'm not saying SoLR will necessarily be horrible, but may come with a burden of additional admin dealing with a third party who will likely follow the letter of the contract and be disinclined to take any responsibility for mistakes that may have been made by the incumbent.

For me the decision was simple, pay a few quid extra per month over the summer and watch how things play out from the sidelines. As it happens, TE have only one more working day to issue my final bill before they owe me £40, perhaps they will owe me another £40 a couple of weeks later if they don't realise. So that ought to cover my costs elsewhere, though I didn't bank on that when I made the decision to jump ship.

Of course, if they follow the trajectory of Outfox and stay banned for 2 years, but able to continue supplying existing customers while thumbing their nose at Ofgem and Elexon, I might feel a little different when the cold weather sets in. But that would reflect very poorly on regulation and the market in general and I think it is less likely than TE sorting themselves out and reopening to new customer registrations, or not sorting themselves out and losing their licence.