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

Newbie_John

retailtherapist said:

I am thinking of moving over to TE too and came across this thread. Is anyone coming over on a standard non-smart meter? I only get one tariff option for this. Also what's everyone doing for gas? Keeping it with current provider?

TE is a very new provider with possibility of many problems.
If you don't have a smart meter than your savings are really tiny and I'm not sure if they're worth of all the possible problems? TE won't replace your meter either - so get one with your provider, then move to TE and enjoy savings.

Chrysalis

As others have said, is little point with a legacy meter.

tlcgrantham

retailtherapist said:

I am thinking of moving over to TE too and came across this thread. Is anyone coming over on a standard non-smart meter? I only get one tariff option for this. Also what's everyone doing for gas? Keeping it with current provider?

The tariff you have been offered is 15% below the current price cap tariffs and fixed for a year with no exit fees. If you don’t mind sending meter readings each month and are willing to risk a new supplier it will save you money especially as the price of Electricity is very likely to go up in April.

JKS$(

I've just switched from Octopus to TE Lifestyle Pensioner, & so far, everything has worked very well. Not expecting a bill until the end of Feb, but I can see the d/d ready in my bank account d/d list.

My Watts usage corresponds to Bright App usage (allowing for the previous day's usage time lag in Bright)

My immersion heater should now cost 60p/tank less to heat, & the lower standing charge should save almost £42/year alone. 

Perhaps it is too good to be true?

masonic

JKS$( said:

Perhaps it is too good to be true?

It is too good to last. I am making the most of these prices while they are available. It's a 47% saving for me in January vs the tariff I switched from. For me even a month at these prices is worth the risk of them going pop later in the year, but I suspect they will hang on by the skin of their teeth as they did last time they were in hot water.

Newbie_John

This is interesting topic from 2 years ago about everyone expecting Outfox the Market to collapse:
https://forums.moneysavingexpert.com/discussion/6414240/concern-about-outfox-the-markets-future

They're still up and running, although apparently we're banned by to get new customers for a while. Same here, if TE ever pops it won't be anytime soon, good number of months from now - so enjoy while you can.

For me each winter month is about £100 saved. So far worth every day

GingerTim

Though Outfox weren't issued an Elexon notice, if I recall right, which was essentially the Black Spot for those which received one. 

Hope they cling on.

lohr500

Newbie_John said:

This is interesting topic from 2 years ago about everyone expecting Outfox the Market to collapse:
https://forums.moneysavingexpert.com/discussion/6414240/concern-about-outfox-the-markets-future

They're still up and running, although apparently we're banned by to get new customers for a while. Same here, if TE ever pops it won't be anytime soon, good number of months from now - so enjoy while you can.

For me each winter month is about £100 saved. So far worth every day

I didn't share your confidence and jumped ship on my own terms. They may survive, they may not, but if they fail there will be a hell of a mess to clear up for the administrators with all the outstanding billing and arguments over how to settle what's due when there is no access to half hourly data for some customers. 

I do hope they can grow a sustainable business and succeed, but it wasn't for me.

masonic

GingerTim said:

Though Outfox weren't issued an Elexon notice, if I recall right, which was essentially the Black Spot for those which received one. 

Hope they cling on.

The other companies were immediately expelled from BSC without a prior notice of default being issued, this prevented them from taking on new customers, which drove the final nail into their coffins. Outfox did not receive a notice or expulsion, but was banned from taking on new customers. Tomato received a notice, but wasn't expelled or banned from taking on new customers. So both Outfox and Tomato have followed/are following another path, though it's a precarious one. In Tomato's case, I do not think they will be afforded any further forbearance, so they need to show some rapid improvement in their settlement record.

If you look at their Trustpilot reviews, it's clear they have been aggressively acquiring new customers, probably targeting SMETS2 now they don't offer most of their tariffs to those with SMETS1 meters. I know Newbie_John is of the opinion that this will help them dilute their legacy customer base and he could be spot on with that. Question is, is that enough? It seems even some of these signups have not been without their issues. We won't know until and unless Elexon/Ofgem decide to take further action.

HillStreetBlues

retailtherapist said:

I am thinking of moving over to TE too and came across this thread. Is anyone coming over on a standard non-smart meter? I only get one tariff option for this. Also what's everyone doing for gas? Keeping it with current provider?

I'm also on a standard non-smart meter, I thought how hard can it be! well for TE very.