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

masonic

Newbie_John said:
"The longer they last the more every other customer has to pay" - I don't see that as a worry.. a lot of businesses work that way - look at Premium Bonds - quite popular product here, who pays for the £1mln prizes? Every other saver who didn't win more than 4% in each year. Amazon Prime, those who use the service less actually pay for those who use it more.

There are a couple of flaws with that logic.

The first is assuming that TE customers are directly benefiting from TE's debt delinquency. Poor cashflow and problem debts are usually more costly to a business or individual than prudent financial management. Late payments often come with additional costs. A poor credit rating means future borrowings are more costly. Not to mention the time and cost associated with regulatory action prompted by the problem debts. It seems unlikely there will be any dividend from running a business in such a manner.

The second is that people can choose not to buy premium bonds or shop at Amazon, thereby opting out of the cross-subsidisation. There is no opt out of costs added to energy standing charges.

So consumer anger at a supplier breaching regulatory and legal obligations, when the ultimate cost will unavoidably be picked up by consumers, is quite justifiable.

tlcgrantham

     Has anyone had their Energy Statement for June yet?  I’ve not received mine. Unusual for Tomato who are normally very prompt in sending out Bills and collecting the DD.

MWT

Newbie_John said:

@MWT, at least two wind up petition mentioned here were paid - so that proves they pay their bills

I feel sure you understand the difference between paying on time and paying on receiving a winding-up petition

Ofgem certainly understand that, and it is why Tomato are where they are at the moment...

A regulated, interdependent industry like energy supply depends on all participants meeting their obligations in a timely manner.

Nothing wrong with being a disruptor with an innovative pricing structure, as long as you can collect what your customers owe you and pay what you owe to everyone else.

Failures on both sides of that and a general lack of capital is what has brought Senapt/Tomato to the current situation.

I hope they succeed though, as I don't want to end up paying for another failure. 

crumpet_man

tlcgrantham said:

     Has anyone had their Energy Statement for June yet?  I’ve not received mine. Unusual for Tomato who are normally very prompt in sending out Bills and collecting the DD.

Received mine 2nd July.

Scot_39

Newbie_John said:

but this is a MSE, the longer they last the more we save.

Somethings are more important than savings for a few.

Like standards of behaviour in business.

After over £100 in SoLR costs for everyone, not just those saving at past failures.  Ofgem should have learnt its lesson.  And been far more careful about who it let's into the domestic  energy market.

Would you be as happy if they owed you money.

Because - when they owe/owed the tax man, they owe/owed us all.

Some may be happy dealing with dubious firms that dont pay their bills until court petitions force term to, others choose not to.

And the longer they last - well maybe that just means the more they may cost the rest of us when fail.

masonic

tlcgrantham said:

     Has anyone had their Energy Statement for June yet?  I’ve not received mine. Unusual for Tomato who are normally very prompt in sending out Bills and collecting the DD.

I had one bill that was delayed while I was with them. Don't know why but it turned up a bit later in the month without issue.

HillStreetBlues

tlcgrantham said:

     Has anyone had their Energy Statement for June yet?  I’ve not received mine. Unusual for Tomato who are normally very prompt in sending out Bills and collecting the DD.

For me they issued one bill on 3rd July for Sep-Apr that I've already paid! Nothing for either May or June.

Newbie_John

Scot_39 said:

Newbie_John said:

but this is a MSE, the longer they last the more we save.

Somethings are more important than savings for a few.

Like standards of behaviour in business.

After over £100 in SoLR costs for everyone, not just those saving at past failures.  Ofgem should have learnt its lesson.  And been far more careful about who it let's into the domestic  energy market.

Would you be as happy if they owed you money.

Because - when they owe/owed the tax man, they owe/owed us all.

Some may be happy dealing with dubious firms that dont pay their bills until court petitions force term to, others choose not to.

And the longer they last - well maybe that just means the more they may cost the rest of us when fail.

Name a company that has no flaws?

Regarding the bill, arrived on 3/07/2025, DD some time next week.

masonic

Newbie_John said:

Name a company that has no flaws?

Isn't that the motto of the Enron appreciation society?

chuckie851

tlcgrantham said:

     Has anyone had their Energy Statement for June yet?  I’ve not received mine. Unusual for Tomato who are normally very prompt in sending out Bills and collecting the DD.

 

My bill for May three weeks late.  They only sent it when I asked for it.
I have a more serious problem now. Mywatts is only showing half-hourly readings for one or two days a week since June 1st, and they're showing as estimated for last Sunday and Monday.  My HH readings had been rock solid until this happened.