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

Mister_G

Interesting update from the BBC

https://www.bbc.co.uk/news/articles/cr5q19geggno

Bendo

14K customers?

Absolutely noone is going to waste money on investing in that.  Tomato is worthless. The only thing that may have some value would be Senapt for the technology platform,  but that's probably worthless too given it's been a year and they still can't get it to work properly. 

There simply isnt an energy market big enough to sell the technology platform into.  The big boys wouldn't touch it and the smaller suppliers wouldn't pay enough and can see what happened to the only reference customer with it. Hardly a glowing advert. 

Doc_N

It’s a great shame. If only because Octopus has now achieved such a commanding position in the market it can exploit that in its pricing. And is.

Newbie_John

Doc_N said:

It’s a great shame. If only because Octopus has now achieved such a commanding position in the market it can exploit that in its pricing. And is.

Octopus isnt doing well financially either, altogether with OVO (and third smaller player..😅) they all failed financial stress test:
https://www.theguardian.com/business/2025/sep/30/future-of-ovo-energy-in-doubt-after-failing-financial-stress-tests

Chrysalis

I expect I wont get my 80 quid, but just in case I will file with the ombudsman later today.  

masonic

Chrysalis said:

I expect I wont get my 80 quid, but just in case I will file with the ombudsman later today.  

Good luck. There is still potentially time for the EO to act before Ofgem does.

bob2302

What's the situation with expiring contracts? IIRC they were extending current contacts pending something or other. 

lohr500

bob2302 said:

What's the situation with expiring contracts? IIRC they were extending current contacts pending something or other. 

From the posts on the Facebook forum, it sounds as though they are just rolling the old contracts forward for the time being.

Newbie_John

bob2302 said:

What's the situation with expiring contracts? IIRC they were extending current contacts pending something or other. 

I've passed one year mark and nothing changed. My understanding is that before 31/01/2026 they will either shut down or reopen with new tarriffs. 

Personally I think there's like 80% chance for them to close down - so happy with any new EV tarrif from any new provider I'll be given, but as there's no serious competition out there - I'm enjoying it while I can. 
If they survive and significantly increase their tarriffs then I'm out though 😎

wakeupalarm

31/01/2026 is the deadline when they and all energy companies have to offer low standing charge tariffs, so they may carry on if they can get some investment.