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

QrizB

MeteredOut said

Other that the outstanding bills, and probably office equipment, I doubt TE have any other assets 

Tomato is owed significant sums of money by the other companies in the group that it made loans to.

Those are "assets".

MWT

QrizB said:

MeteredOut said

Other that the outstanding bills, and probably office equipment, I doubt TE have any other assets 

Tomato is owed significant sums of money by the other companies in the group that it made loans to.

Those are "assets".

If only we had accounts more recent than Dec '23 to see exactly what has been loaned, but I'd bet that all the money sent to Senapt itself was invoiced as fees, not a loan.

The large loan to Northern Gas Services was, according to their accounts, converted into stock of solar PV and related equipment which was presumably intended to be installed as part of the Tomatopia scheme which resulted in those systems being leased with ownership of the leases in Senapt Assets Limited. 

Going to be fun extracting the cash back from that lot...

GSV3MIAC2

Not going to be much fun for folks with tomatopia kit on their roof and unpaid export. Nor for whoever has to untangle the unbilled tou tariff stuff.. Afaik no tou supplier has failed before, where hh meter data should have been used (and probably exists, even if tomato were unable to get it.  I bet Hildebrand/Bright could). And then there are the discount and write off promises. Is big mess. 

JohnPo

Noticed a later intention to appoint administrators case has been filed on Friday 24/10/25 case number CR-2025-LDS-001064 https://caseboard.io/cases/4053eebc-8a6c-4bec-8a84-83f8aacf15fe.  So this is dragging on and the case was lodged subsequent to notice of default by Elexon, buying them another 10 working days from the 24/10

masonic

JohnPo said:

Noticed a later intention to appoint administrators case has been filed on Friday 24/10/25 case number CR-2025-LDS-001064 https://caseboard.io/cases/4053eebc-8a6c-4bec-8a84-83f8aacf15fe.  So this is dragging on and the case was lodged subsequent to notice of default by Elexon, buying them another 10 working days from the 24/10

A second NOI is not unheard of, but they won't be permitted to keep doing it. It seems unlikely this extra time is genuinely needed to figure out the next steps.

MWT

masonic said:

JohnPo said:

Noticed a later intention to appoint administrators case has been filed on Friday 24/10/25 case number CR-2025-LDS-001064 https://caseboard.io/cases/4053eebc-8a6c-4bec-8a84-83f8aacf15fe.  So this is dragging on and the case was lodged subsequent to notice of default by Elexon, buying them another 10 working days from the 24/10

A second NOI is not unheard of, but they won't be permitted to keep doing it. It seems unlikely this extra time is genuinely needed to figure out the next steps.

They will have had to show some evidence of a pending deal or other justification, but yes, another extension is highly unlikely without some very solid signs of an immanent solution given the Elexon action.

grandadgolfer

This is like a slow death we all know it’s coming we just don’t know when

NormalNorman

grandadgolfer said:

This is like a slow death we all know it’s coming we just don’t know when

Are you still with them? My switch went through a week ago but final bill outstanding. Mind you it took octopus over a year to wind up my account which they couldn’t bill for but lied and tried…

born_again

MWT said:

masonic said:

JohnPo said:

Noticed a later intention to appoint administrators case has been filed on Friday 24/10/25 case number CR-2025-LDS-001064 https://caseboard.io/cases/4053eebc-8a6c-4bec-8a84-83f8aacf15fe.  So this is dragging on and the case was lodged subsequent to notice of default by Elexon, buying them another 10 working days from the 24/10

A second NOI is not unheard of, but they won't be permitted to keep doing it. It seems unlikely this extra time is genuinely needed to figure out the next steps.

They will have had to show some evidence of a pending deal or other justification, but yes, another extension is highly unlikely without some very solid signs of an immanent solution given the Elexon action.

Being cynical, you could say that they are using the time to offload funds & valuables to the other companies in the group.

grandadgolfer

NormalNorman said:

grandadgolfer said:

This is like a slow death we all know it’s coming we just don’t know when

Are you still with them? My switch went through a week ago but final bill outstanding. Mind you it took octopus over a year to wind up my account which they couldn’t bill for but lied and tried…

Got out few weeks ago on the MSE BG tariff as I think the end is nigh