TOMATO'S CLOSURE & NEW SUPPLIER. OFGEM ONCE AGAIN FAILED.

whitedealer57

As an ex commercial customer of Tomato Energy and having the misfortune to have a half hourly meter despite our total annual consumption being circa 25000kwh  we are now faced with a massive hike in standing charges from new suppliers who are now suggesting around £9.50 per day plus kva charges plus climate levy charges and VAT. This will see our electricity bill rise by circa £3500 per annum how can business in the uk possibly compete!!!!!! 

Chrysalis

A total crap show with all those customers not being billed, put at start on TOU instead of SVR without making sure the meters could be read, and then kept taking on customers before issues were fixed, all that is on tomato energy.

Ofgem's part in this I think they shouldnt be providing exemptions to startups.  So if anything the noose should have been tighter.  Make sure the cash flow is there from day 1.

masonic

Chrysalis said:

A total crap show with all those customers not being billed, put at start on TOU instead of SVR without making sure the meters could be read, and then kept taking on customers before issues were fixed, all that is on tomato energy.

Ofgem's part in this I think they shouldnt be providing exemptions to startups.  So if anything the noose should have been tighter.  Make sure the cash flow is there from day 1.

Expecting a new energy firm to be cashflow positive from the start is not reasonable, but a loss-making startup should have years worth of capital reserves to execute its plan.

Chrysalis

masonic said:

Chrysalis said:

A total crap show with all those customers not being billed, put at start on TOU instead of SVR without making sure the meters could be read, and then kept taking on customers before issues were fixed, all that is on tomato energy.

Ofgem's part in this I think they shouldnt be providing exemptions to startups.  So if anything the noose should have been tighter.  Make sure the cash flow is there from day 1.

Expecting a new energy firm to be cashflow positive from the start is not reasonable, but a loss-making startup should have years worth of capital reserves to execute its plan.

Thats what I meant, working capital.  Sorry if I put into wrong words.  To me I see them as the same thing.