 | Home > Off Topic > Energy Companies Going Bust |
 
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018   
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I guess they do have their fingers in a few pies...
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28th Sep 2021 10:04pm |
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| lohr500 Member Since: 14 Sep 2014 Location: Skipton Posts: 1285 
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All eight of them
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28th Sep 2021 11:01pm |
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| What puddle? Member Since: 25 Oct 2013 Location: Reading Posts: 952
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Won't have anything to do with Octopus - very woke company who supported BLM. https://octopus.energy/blog/black-lives-matter/ We're all against racism! But we want an energy company to just supply energy, not get mixed up in left-wing politics. Now left. |
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29th Sep 2021 12:13pm |
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| camelman Member Since: 27 Feb 2013 Location: Peak District Posts: 3321
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3 more gone this afternoon Enstroga, Igloo Energy and Symbio Energy
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29th Sep 2021 3:59pm |
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| scotty38 Member Since: 21 May 2011 Location: Lincolnshire Posts: 571  
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Yep we’re affected now as was with Igloo…..
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29th Sep 2021 5:41pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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I wish the two owners were personally liable for the £600k left owing...
"Symbio Energy: Collapsing company’s crypto venture The founders of an energy company that owed the regulator hundreds of thousands of pounds appear to have used the company Twitter account to promote a new cryptocurrency venture as their firm crumbled. Symbio Energy, which had 48,000 customers, went into administration on Wednesday. It had received a final warning from Ofgem, the regulator, over £600,000 it owed in two mandatory payments for government renewables schemes. The Watford-based company, founded in March 2019, had faced complaints about poor customer service and was consistently placed close to the bottom of rankings. As the company was close to collapse a series of articles about investing in cryptocurrency were posted on its Twitter thread, including one that explicitly promoted a crypto trading company founded by Symbio’s owners Nikunj Vyas, 34, and Vinesh Patel, 30. Companies House records show that the pair set up Carbonyte in September last year. The business claims to let customers manage unregulated investment through a “secured hard wallet” as well as helping people to earn quick money by mining the digital currency." https://www.thetimes.co.uk/article/symbio-...-mjhl758ng |
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2nd Oct 2021 1:00pm |
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| 22900013A Member Since: 23 Dec 2010 Location: Oxfordshire Posts: 3140 
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Yep that's pretty much it. The leccy is generated in wind farms, solar, coal, gas, nuke etc, all goes into the grid, then gets sent to the distribution network and into your house. It is not possible for your leccy to be "green" and your neighbours not, the electrons cannot be traced back. When it comes to billing then yes I'm sure some companies will invest in green ventures of whatever type but it's wrong to claim their electricity is green and others not, it just doesn't work like that unless you have some kind of independent supply. Even with the rise of small generators (eg solar farms) supplying the distribution network you still can't trace your electrons back to source unless you are using a closed off supply. I can imagine in the future a much more green system of small localised networks generated by wind or solar to supply a village, but you lose the faults response capacity then, don't think people would put up with long term power cuts. 2011 110 USW 1973 Series III 1-Ton 1972 Series III 1-Ton Cherrypicker 1969 IIA 1-Ton 1966 IIA 88" |
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2nd Oct 2021 2:42pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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Just reading another 4 have thrown in the towel today, bringing the total to 19 energy suppliers havjng collapsed since the start of August.
The most surprising thing was how few customers they had: "Omni Energy supplies around 6,000 domestic pre-payment customers MA Energy supplies around 300 non-domestic customers Zebra Power Limited supplies around 14,800 domestic customers Ampoweruk Ltd supplies around 600 domestic customers, and around 2000 non-domestic customers." https://www.theguardian.com/business/live/...iness-live Struggling to see how they could have been viable businesses even before the issue with huge increases in wholesale prices. |
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2nd Nov 2021 6:16pm |
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| markb110 Member Since: 22 May 2010 Location: Guildford Posts: 2522 
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Data harvesting then selling that to other business’s as well as selling advertising space on their websites and marketing material.
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2nd Nov 2021 6:40pm |
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| DAZ110 Member Since: 06 Dec 2007 Location: East Sussex Posts: 2003 
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Oh great, and I was a Zebra Power customer.
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2nd Nov 2021 9:44pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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Who's with any of these:
Orbit Energy Simply Your Energy Delta Gas and Power Social Energy Supply Whoop Energy "The energy regulator has threatened to strip five suppliers of their licences after they failed to hand over more than £500,000 collected from customers’ bills to help pay for a renewable energy support scheme." "The suppliers all missed a payment deadline of 10 November and if they fail to comply with the latest order from Ofgem “they could end up having their licences revoked or face a financial penalty”, the regulator said. A struggle to meet industry payment obligations is often viewed by industry experts as an early sign of financial distress, which could ultimately lead a company to collapsing out of the market." https://www.theguardian.com/business/2021/...heme-ofgem |
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12th Nov 2021 8:04pm |
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| jim4244 Member Since: 13 Apr 2014 Location: Bedfordshire Posts: 634 
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Anyone here with Neon Reef?
Jim |
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13th Nov 2021 10:17am |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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They appear to be struggling too, late with their annual FiT payment & now stopped from taking on new customers:
"Neon Reef has failed to make its FIT Year 11 Annual Levelisation Payment of £37,350.76 by the deadline of 17 September 2021. The provisional order requires Neon Reef to pay the outstanding amount forthwith." "On 24 September 2021, the Authority made a Revocation Order in accordance with section 25(7)(c) of the Electricity Act 1989. The Authority decided that the terms of the provisional order were no longer requisite for the purpose of ensuring Neon Reef’s compliance, as Neon Reef paid the outstanding sum on 22 September 2021." https://www.ofgem.gov.uk/publications/neon...onal-order "For both Neon Reef and Orbit Energy, they have been removed from the BSC for failing to sufficiently reduce their Credit Cover Percentage. They follow a number of companies who have defaulted out of the system – which means that they cannot register new customers – with the majority failing shortly after." https://www.current-news.co.uk/news/five-s...lexons-bsc |
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13th Nov 2021 11:14am |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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"Neon Reef Limited and Social Energy Supply Ltd, have today announced they are ceasing to trade. Neon Reef Limited supplies around 30,000 domestic electricity customers, and Social Energy Supply Ltd supplies around 5,500 domestic customers."
https://www.ofgem.gov.uk/publications/ofge...supply-ltd |
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16th Nov 2021 6:33pm |
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