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

Ildhund

masonic said:

I have my doubts they are capable of pulling index readings from meters yet ...

That would suggest a permissions issue. Only suppliers are permitted to access readings remotely, so perhaps they haven't applied for the appropriate authentication. Is no Tomato customer seeing precise meter readings in their online account (i.e. with at least two or three places of decimals)?

WibbleBaaaaaa

I have only been with TE for a week now, but i am going to give 1 meter reading once a week, just to be on the safe side, but apart from that mywatts is showing me my 30 mins usage and cost, and it is only about 2 hours behind from a live reading.

I do have one of those IHD but it has never worked with my first SM which lasted 6 weeks before failing, then it took OP 6 months to replace with a new one, and the engineer who installed it never linked the IHD to the second meter.......i wonder if TE can link it from their end if i dropped them a line.

TroubledTarts

Is there a sweepstake on Tomato?

Just watched a piece on when avro went bust and they had 600,000 customers in the end with a cost to all of us of £1000 per customer £600 million in total.

How big do we think Tomato will get before they potentially fail?

masonic

Ildhund said:

masonic said:

I have my doubts they are capable of pulling index readings from meters yet ...

That would suggest a permissions issue. Only suppliers are permitted to access readings remotely, so perhaps they haven't applied for the appropriate authentication. Is no Tomato customer seeing precise meter readings in their online account (i.e. with at least two or three places of decimals)?

Possible I suppose. More likely IMHO is that they've focused on building the interface to collect HH data and neglected index readings.

I know that a family member who joined a non-TOU tariff last year has had to submit monthly manual readings despite having a working SMETS2 meter. Most of us are on TOU where index readings are not being used, so recent attempts to collect and display them on MyWatts is just a curiosity for the time being.

masonic

TroubledTarts said:

Is there a sweepstake on Tomato?

Just watched a piece on when avro went bust and they had 600,000 customers in the end with a cost to all of us of £1000 per customer £600 million in total.

How big do we think Tomato will get before they potentially fail?

There was a bit of a sweepstake on how long before they fail. Easter was mentioned. I think they'll survive into the summer and potentially beyond. But I'll be watching closely and jumping ship immediately if things go south.

Much depends on if they can improve their BSC settlement record. That seems to be their biggest existential risk at the moment.

bagand96

TroubledTarts said:

Is there a sweepstake on Tomato?

Just watched a piece on when avro went bust and they had 600,000 customers in the end with a cost to all of us of £1000 per customer £600 million in total.

How big do we think Tomato will get before they potentially fail?

When a supplier collapses, the main costs are protecting the customer's credit balances which are guaranteed by Ofgem to ensure consumers don't lose out.

Tomato don't hold credit balances. They operate variable Direct Debit. They send you your monthly bill, they then take that amount as the DD a few days later.

So in the event they collapse there won't be millions of pounds of to cover customer funds. The only costs would be moving customers to an SoLR. Very different situation to Avro and others.

Still wishing Tomato success, even if that may be against the grain on these boards. 

TroubledTarts

bagand96 said:

TroubledTarts said:

Is there a sweepstake on Tomato?

Just watched a piece on when avro went bust and they had 600,000 customers in the end with a cost to all of us of £1000 per customer £600 million in total.

How big do we think Tomato will get before they potentially fail?

When a supplier collapses, the main costs are protecting the customer's credit balances which are guaranteed by Ofgem to ensure consumers don't lose out.

Tomato don't hold credit balances. They operate variable Direct Debit. They send you your monthly bill, they then take that amount as the DD a few days later.

So in the event they collapse there won't be millions of pounds of to cover customer funds. The only costs would be moving customers to an SoLR. Very different situation to Avro and others.

Still wishing Tomato success, even if that may be against the grain on these boards. 

Are you sure of the piece highlighter in bold?

When Avro Energy collapsed, the final cost to customers was estimated at around £700 million by Ofgem, the energy regulator, with the company owing approximately £90 million to its 580,000 customers at the time of its collapse.

The added complication being tomato's solar panel and battery tariff that might not fit with all suppliers so that could hold things up from an solar process whilst they perform due diligence.

masonic

TroubledTarts said:

bagand96 said:

TroubledTarts said:

Is there a sweepstake on Tomato?

Just watched a piece on when avro went bust and they had 600,000 customers in the end with a cost to all of us of £1000 per customer £600 million in total.

How big do we think Tomato will get before they potentially fail?

When a supplier collapses, the main costs are protecting the customer's credit balances which are guaranteed by Ofgem to ensure consumers don't lose out.

Tomato don't hold credit balances. They operate variable Direct Debit. They send you your monthly bill, they then take that amount as the DD a few days later.

So in the event they collapse there won't be millions of pounds of to cover customer funds. The only costs would be moving customers to an SoLR. Very different situation to Avro and others.

Still wishing Tomato success, even if that may be against the grain on these boards. 

Are you sure of the piece highlighter in bold?

When Avro Energy collapsed, the final cost to customers was estimated at around £700 million by Ofgem, the energy regulator, with the company owing approximately £90 million to its 580,000 customers at the time of its collapse.

The added complication being tomato's solar panel and battery tariff that might not fit with all suppliers so that could hold things up from an solar process whilst they perform due diligence.

The credit balances of the failed supplier's customers are covered by borrowings, which are repaid through a levy on all customers. In Tomato's case, there would be no credit balances as they charge in arrears.

TroubledTarts

masonic said:

TroubledTarts said:

bagand96 said:

TroubledTarts said:

Is there a sweepstake on Tomato?

Just watched a piece on when avro went bust and they had 600,000 customers in the end with a cost to all of us of £1000 per customer £600 million in total.

How big do we think Tomato will get before they potentially fail?

When a supplier collapses, the main costs are protecting the customer's credit balances which are guaranteed by Ofgem to ensure consumers don't lose out.

Tomato don't hold credit balances. They operate variable Direct Debit. They send you your monthly bill, they then take that amount as the DD a few days later.

So in the event they collapse there won't be millions of pounds of to cover customer funds. The only costs would be moving customers to an SoLR. Very different situation to Avro and others.

Still wishing Tomato success, even if that may be against the grain on these boards. 

Are you sure of the piece highlighter in bold?

When Avro Energy collapsed, the final cost to customers was estimated at around £700 million by Ofgem, the energy regulator, with the company owing approximately £90 million to its 580,000 customers at the time of its collapse.

The added complication being tomato's solar panel and battery tariff that might not fit with all suppliers so that could hold things up from an solar process whilst they perform due diligence.

The credit balances of the failed supplier's customers are covered by borrowings, which are repaid through a levy on all customers.

I know that thankyou I was pointing out the balances owed was 90million but the final cost to all of us was 700million which was not made up of mostly of customer balances that's just one part of the overall cost when a supplier goes bust and was just correcting the poster who I replied to.

tlcgrantham

Meanwhile lucky TE customers like me are saving £3 + each day so if they do last to and beyond summer I’ll have saved more than the £300 winter fuel payment I lost.🤗😀