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  • FIRST POST
    • MSE Guy
    • By MSE Guy 5th Aug 10, 10:46 AM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: At Cost Energy collapses as directors resign
    • #1
    • 5th Aug 10, 10:46 AM
    MSE News: At Cost Energy collapses as directors resign 5th Aug 10 at 10:46 AM
    This is the discussion thread for the following MSE News Story:

    "A company that promised to sell power without adding a profit margin is set to fold without ever getting off the ground ..."

Page 1
    • GetRealBabe
    • By GetRealBabe 5th Aug 10, 10:59 AM
    • 2,193 Posts
    • 2,421 Thanks
    GetRealBabe
    • #2
    • 5th Aug 10, 10:59 AM
    • #2
    • 5th Aug 10, 10:59 AM
    Hi

    Is anyone really surprised? As the story asks, what happens to the details of the 18,000 who signed up? So glad I didn't,

    GRB
    Sealed Pot Challenge No 014-Finally got a signature.

  • Premier
    • #3
    • 5th Aug 10, 11:24 AM
    • #3
    • 5th Aug 10, 11:24 AM
    Let me get this timeline straight.

    You had an interview with the company on Monday (26th) or possibly Tuesday morning.
    (you say in the earlier article " We met with its commercial director Cedric Clarke and director Paul Keightley this week..")
    In that interview they confirmed they would be starting to sell gas to customers in October this year.

    You published your report 27th July (Tuesday)

    Wednesday, the company on it's blog on it's website posted a response to your article. In it they say:

    ...we are asking people for a bit of trust and faith when we ask them to sign up. 18,000 have done just that and we thank them for it...

    ...
    Starting an energy company is, to be frank, bloody difficult! It’s taken some time, but we’re getting there. We have, after all, confirmed that we will be supplying gas in October....

    ...What we have always aimed for, more than anything, is honesty. ...

    We think customers will appreciate transparency....
    http://www.atcostenergy.com/our-response-to-the-money-saving-expert-interview-p16.aspx

    On the same day they issued a press release regarding British Gas profits (which were only issued on the Wednesday) where they reconfirmed:
    ...At Cost Energy will start supplying gas at cost price in autumn this year.

    Everything is in place for the supply to start, with only an exact date yet to be confirmed...
    http://www.journalism.co.uk/66/articles/539829.php

    This all on the same day it emerges all the directors resigned.


    Can't trust some people as far as you can throw them, did someone say?
    Last edited by Premier; 05-08-2010 at 12:18 PM. Reason: URL revised & press release added
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
  • Premier
    • #4
    • 5th Aug 10, 11:59 AM
    • #4
    • 5th Aug 10, 11:59 AM
    Stockdale says: ...
    "I have never stopped believing that consumer energy costs can be driven down by buying from the wholesale market and once I have fully recovered, I will continue to investigate ways to deliver an alternative method of buying energy."
    I hadn't noticed previously, but it appears Stockdale has registered quite a few "At cost..." company names.
    As well as at cost energy, it appears he's also registered:

    at cost banking
    at cost credit card
    at cost fuel
    at cost holidays
    at cost homephone
    at cost insurance
    at cost internet
    at cost loans
    at cost mobile phones
    at cost mortgages
    at cost petrol
    at cost water

    to name just those I've identified so far.

    Look out for his latest adventure soon!
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
    • penrhyn
    • By penrhyn 5th Aug 10, 12:04 PM
    • 15,006 Posts
    • 8,056 Thanks
    penrhyn
    • #5
    • 5th Aug 10, 12:04 PM
    • #5
    • 5th Aug 10, 12:04 PM
    Wot no At Cost Receivers?
    That gum you like is coming back in style.
    • Poppycat
    • By Poppycat 5th Aug 10, 12:15 PM
    • 12,645 Posts
    • 9,571 Thanks
    Poppycat
    • #6
    • 5th Aug 10, 12:15 PM
    • #6
    • 5th Aug 10, 12:15 PM
    Sounds like another wannbe Richard Branson only he knows how to run a business

    I hadn't noticed previously, but it appears Stockdale has registered quite a few "At cost..." company names.
    As well as at cost energy, it appears he's also registered:

    at cost banking
    at cost credit card
    at cost fuel
    at cost holidays
    at cost homephone
    at cost insurance
    at cost internet
    at cost loans
    at cost mobile phones
    at cost mortgages
    at cost petrol
    at cost water

    to name just those I've identified so far.

    Look out for his latest adventure soon!
    Originally posted by Premier

  • Plushchris
    • #7
    • 5th Aug 10, 4:22 PM
    • #7
    • 5th Aug 10, 4:22 PM
    Oh my god!!

    What a shock, I'm so amazed this never got off the ground!!



    /sarcasm
    Missing Tesco R&R since Feb '07 & now a "Tesco veteran" apparently!
    • Antispam
    • By Antispam 5th Aug 10, 4:28 PM
    • 3,935 Posts
    • 3,466 Thanks
    Antispam
    • #8
    • 5th Aug 10, 4:28 PM
    • #8
    • 5th Aug 10, 4:28 PM
    Yes a lot of disappointed people out there

    Always thought pigs might fly

    Oh my god!!

    What a shock, I'm so amazed this never got off the ground!!



    /sarcasm
    Originally posted by Plushchris
  • Plushchris
    • #9
    • 5th Aug 10, 4:32 PM
    • #9
    • 5th Aug 10, 4:32 PM
    Wonder if the company folded before or after they sold on that list of 18,000 people?
    Missing Tesco R&R since Feb '07 & now a "Tesco veteran" apparently!
    • billbennett
    • By billbennett 6th Aug 10, 8:48 AM
    • 2,270 Posts
    • 1,623 Thanks
    billbennett
    Sounds like that Pipeline Card crud to me.
    In "Monopoly", what makes the "Super Tax" so super?
  • private12
    This guy is a scumbag, he has left a trail of debt behind him and peoples jobs at risk, I know because my job is at risk because of him. It's sad, he came across very genuine when he was in my office but surprise surprise he got us to do a lot of work as recent as a month ago then doesn't pay up. Matt if you are reading this, enjoy your holiday in USA when you fly first class today, I'll go home and worry about how to pay my mortgage this month. Thanks Matt, you really a star!!!!!
  • badgermanRocks
    is it a coincidence that Mr Stockdale's illness has become more and more reported on the run up to the collapse of the company? could this be the ultimate exit strategy?
    • switchoffthelights
    • By switchoffthelights 9th Sep 10, 5:30 PM
    • 2 Posts
    • 0 Thanks
    switchoffthelights
    How let down by Atcost Energy
    I signed up. I told all my family,friends,colleagues how good they were going to be. I joined the Group on Facebook along with many others.

    Thought things had gone quiet and then found out only this week that all the Directors had resigned and the company was going into administration (apparently).

    How much of a fool do I feel? Possibly like lots of others especially in the Group on Facebook.

    What I am annoyed about is that At Cost Energy did not notify me out of courtesy that things were going awry and that there might be some delays possibly until they sort out the internal challenges at the company. I find this kind of attitude appalling.

    If any of the Senior Management from At Cost Energy read this post then you should be ASHAMED at yourselves with regard to Customer Relationship Management. You also missed a trick. We all knew the etihics behind the company and that is why everyone was so keen to sign up.Obviously as well it was too get cheaper energy for your home. If the company had cash problems why did you not ask for 'donations' from people who wanted to be customers to give you some cashflow and then turn the company into "The People's Energy Company." You coudl have aslo run the company as a 'charity' saving huge amounts of corporation tax.

    Matt Stockdale. You need to step up on this one. 18,000 people who you made promises to are not very happy. You need to give some answers to people. If you have run away then you are not the man I thought you were. Have you run away?
    • Cardew
    • By Cardew 9th Sep 10, 5:41 PM
    • 27,828 Posts
    • 13,696 Thanks
    Cardew
    We all knew the etihics behind the company and that is why everyone was so keen to sign up.Obviously as well it was too get cheaper energy for your home. If the company had cash problems why did you not ask for 'donations' from people who wanted to be customers to give you some cashflow and then turn the company into "The People's Energy Company." You coudl have aslo run the company as a 'charity' saving huge amounts of corporation tax.
    Originally posted by switchoffthelights
    Ethics? A Charity? The self proclaimed millionaire Matt Stockdale?

    Send donations? The self proclaimed millionaire Matt Stockdale?

    Perhaps you will have the opportunity in future to send donations to these 'charities' see post #4
    at cost banking
    at cost credit card
    at cost fuel
    at cost holidays
    at cost homephone
    at cost insurance
    at cost internet
    at cost loans
    at cost mobile phones
    at cost mortgages
    at cost petrol
    at cost water
    Mmmm

    P.S. Welcome to the forum.
    Last edited by Cardew; 09-09-2010 at 5:43 PM.
    • switchoffthelights
    • By switchoffthelights 20th Sep 10, 11:50 AM
    • 2 Posts
    • 0 Thanks
    switchoffthelights
    I see your point. Perhaps he has delusions of jumping from oven cleaning pads to running the next Virgin Group.
    I still feel like a complete idiot for telling people how great it was going to be.
    BUT what I find most galling still is that they did not email the people who signed up to say things were not going as planned.. Really bad business practice.
    The moral of the exercise-avoid any buisness venture that involves Matt Stockdale unless it is something that cleans items in your kitchen. Apparently he is good at this but obviously not at any other business where cleaning stuff is not involved.

    Thank you for your welcome to the Forum!!!!!
  • DVardysShadow

    Always thought pigs might fly
    Originally posted by Antispam
    Oh, they do. It blddy hurts if you are flying one when it crash lands.
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