Tomato Energy

[JonnyG]

Not looking great :-

Tomato Energy Limited: Provisional Order

On 10 April 2025 the Authority issued a Provisional Order to Tomato Energy Limited.

www.ofgem.gov.uk

I really hope they can keep going !

I've had my first bill for February but not for March yet.

I notice there are a few missing half hours in the MyWatts graphs and downloads on a couple of days . Very strange as all OK in Bright app and Hugo app. I wonder if that's delaying my March bill. Nothing to worry about anyway

 

[johnb80]

Not looking great :-

Tomato Energy Limited: Provisional Order

On 10 April 2025 the Authority issued a Provisional Order to Tomato Energy Limited.

www.ofgem.gov.uk

I really hope they can keep going !

I've had my first bill for February but not for March yet.

I notice there are a few missing half hours in the MyWatts graphs and downloads on a couple of days . Very strange as all OK in Bright app and Hugo app. I wonder if that's delaying my March bill. Nothing to worry about anyway

The last paragraph is important

“The opening of an investigation does not imply that Ofgem has made any findings about non-compliance.”

Hopefully this will be the case.

 

[Everest]

Let's hope that you have all been billed and paid for your cheap rate leccy.

If Tomato go under it is likely Ofgem will move you to a new supplier and a new tariff which may be more expensive than your previous one (but within Ofgem's price cap).

So push to pay for that cheap energy now if Tomato haven't already billed you.

 

[Susanna]

@Everest - according to what I have read, your energy ‘debt’ will not be transferred to a new supplier if this happens. You will, however, be required to pay whatever you owe to a supplier, even if it has ceased trading.
I am happy to just wait and see.

 

[johnb80]

Let's hope that you have all been billed and paid for your cheap rate leccy.

Yep, all good and up to date just as it has been for the last 8 months

If Tomato go under it is likely Ofgem will move you to a new supplier and a new tariff which may be more expensive than your previous one (but within Ofgem's price cap).

All tariffs would be more expensive, theres no 'may' about it, Tomato are the lowest tariff of all.

So push to pay for that cheap energy now if Tomato haven't already billed you.

From what the CEO of Tomato has said, he's confident theyre going from strength to strength.

 

[Everest]

All tariffs would be more expensive, theres no 'may' about it, Tomato are the lowest tariff of all.

Doh!... of course

 

[johnb80]

Not looking great :-

Tomato Energy Limited: Provisional Order

On 10 April 2025 the Authority issued a Provisional Order to Tomato Energy Limited.

www.ofgem.gov.uk

Just posted from Farouk (the CEO)

 

[MG Madness]

What’s the best way of getting in touch with them? I tried phoning and email and their CS is awful. I joined in Feb and I’ve still not been charged for anything.

 

[Susanna]

What’s the best way of getting in touch with them? I tried phoning and email and their CS is awful. I joined in Feb and I’ve still not been charged for anything.

I joined last September, and despite having a DD set up, they have yet to bill me or take any money from my bank. I contacted them to state this (a few months ago), but still nothing has been actioned.

 

[johnb80]

I joined last September, and despite having a DD set up, they have yet to bill me or take any money from my bank. I contacted them to state this (a few months ago), but still nothing has been actioned.

Youre in line for 50% discount then if I remember correctly.

 

[johnb80]

What’s the best way of getting in touch with them? I tried phoning and email and their CS is awful. I joined in Feb and I’ve still not been charged for anything.

Keep quiet, enjoy the discounted energy.

 

[MG Madness]

Keep quiet, enjoy the discounted energy.

I’d rather pay now to be honest rather then getting a huge bill down the line.

 

[Gomev]

Just posted from Farouk (the CEO)

View attachment 36164

Andy Hornby CEO of HBOS kept saying much the same in 2008 - We are a strong bank and have a solid balance sheet.

 

[Everest]

Whilst I hope Tomato keep afloat (or we'll all end up paying for their failure), something doesn't seem right to me

I can fully understand companies having 'growing' issues when they get a huge demand for their services, exceeding their predictions.

But how can a company not bill customers for over 6 months, despite having DD's etc. all set up? I don't see how they are going to "settle their late payments" if they don't have the income stream.

Anyone could quickly build up a company with a large customer base if they started selling £1 coins for 50p each.

 

[johnb80]

Andy Hornby CEO of HBOS kept saying much the same in 2008 - We are a strong bank and have a solid balance sheet.

so............?

The Titanic was unsinkable, stuff sticks to non stick frying pans, Keir Starmer said they wouldnt raise taxes or take away winter fuel allowance.

What else is there to go on? All of the posts from him have been truthful and direct so far, why would I believe this one should be any different?

 

[johnb80]

Whilst I hope Tomato keep afloat (or we'll all end up paying for their failure), something doesn't seem right to me

As opposed to us all paying for the huge profits theyre making?

I can fully understand companies having 'growing' issues when they get a huge demand for their services, exceeding their predictions.

And that does seem to be the issue here.

But how can a company not bill customers for over 6 months, despite having DD's etc. all set up? I don't see how they are going to "settle their late payments" if they don't have the income stream.

The problem seems to be getting data from some smart meters, Im not sure of the inner workings of the system but from what I have read, some SMETS 1 meters can have a firmware change to make the SMETS 2 compatable and these are the ones that they have issues with. The CEO has said they would rather not invoice customers until they have accurate data which is refreshingly opposite to what a lot of other energy companies do - send you a large bill for you to contest.

Anyone could quickly build up a company with a large customer base if they started selling £1 coins for 50p each.

Absolutely but thats not what Tomato is doing.

 

[tsedge]

I'll sell anyone 50p coins for a £1 each. Any takers?

 

[johnb80]

I'll sell anyone 50p coins for a £1 each. Any takers?

Can I pay by cheque?

 

[Gomev]

so............?

So.....nothing, it's a comment. I presume you do allow these on a forum.

The Titanic was unsinkable, stuff sticks to non stick frying pans, Keir Starmer said they wouldnt raise taxes or take away winter fuel allowance.

So people lie.

What else is there to go on? All of the posts from him have been truthful and direct so far, why would I believe this one should be any different?

Maybe circumstances or the need has changed. I refer you to my previous comment immediately above..........people lie.

 

[Gomev]

As opposed to us all paying for the huge profits theyre making?

Don't confuse energy retailers with energy suppliers. Octopus Energy posted profits of £159m in post-tax profit for the year ending April 30, 2024. That's a 12% dip compared to 2023, when it recorded £182m in profit. This represent a 0.7% profit margin from nearly 7 million households and group revenue of 12.4 billion. A lot of their money is made through their software Kraken.
..

The problem seems to be getting data from some smart meters, Im not sure of the inner workings of the system but from what I have read, some SMETS 1 meters can have a firmware change to make the SMETS 2 compatable and these are the ones that they have issues with. The CEO has said they would rather not invoice customers until they have accurate data which is refreshingly opposite to what a lot of other energy companies do - send you a large bill for you to contest.

Others, Octopus included have no problem in reading Smets1 meters, mine is one.
.

Absolutely but thats not what Tomato is doing.

Ofgem only allows retail suppliers, Tomato is one of them as is Octopus, to make an EBIT profit of 2.4% (EBIT - Earnings Before Interest and Taxes *), approx £40-£45 per customer based on the current cap. This has recently gone up from 1.9%.
So how can Tomato sell it's electricity so much cheaper than everyone else and cut the standing charge?

* EBIT is calculated by subtracting all operating expenses (including cost of goods sold, selling and administrative expenses, etc.) from total revenue.