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  • About to join but then a concern...

    My energy deal is about to end and I had a shortlist of smaller Green Energy providers - Purple Planet being one of them. Only then did I see this article in the Guardian <<< https://www.theguardian.com/business...able-subsidies >>> and it raised some concerns . Now not sure whether to go ahead with a smaller provider - any thoughts / comments (especially from Purple Planet)? Note I intend to ask the same question of other suppliers I'm interested in.
    Tap below to see the best answer
    0
  • My energy deal is about to end and I had a shortlist of smaller Green Energy providers - Purple Planet being one of them. Only then did I see this article in the Guardian <<< https://www.theguardian.com/business...able-subsidies >>> and it raised some concerns . Now not sure whether to go ahead with a smaller provider - any thoughts / comments (especially from Purple Planet)? Note I intend to ask the same question of other suppliers I'm interested in.
    Tap below to see the best answer


  • Best Answer

    Hello pdab09.

    Its not really a concern here, yes any company can go bust but none of them will say so if you ask them. Quite a few suppliers have gone under in the last 18 months due to some dodgy business practices and financial suicide decisions taken by said companies. However PP are safer than most as they have BP as a partner so financially they are pretty sound.
    3
  • Hello pdab09.

    Its not really a concern here, yes any company can go bust but none of them will say so if you ask them. Quite a few suppliers have gone under in the last 18 months due to some dodgy business practices and financial suicide decisions taken by said companies. However PP are safer than most as they have BP as a partner so financially they are pretty sound.


  • Best Answer

    hi pdab09
    I have a few comments but I don't represent PURE (not Purple) Planet. I'm just a customer.
    The article is somewhat misleading, the energy companies that went bust did so because they didn't do their accounting properly. If there was an inability to pay subsidies it's because they didn't allow for it in their financial planning, they didn't go bust because because they had to pay the subsidies, that was just a symptom of poor financial management.

    So what you're really asking is, is PP properly managed financially.

    I can't imagine for a moment that if PP do have to pay any subsidies to Ofgem, that it isn't properly accounted for.

    Inconvenient though it is for the customers whose energy co. goes bust, they are covered by Ofgem so even if PP were to go bust, (and my opinion is that they aren't going to, but then I would say that just by virtue or otherwise of being here) you'd get any owed money back.

    If you get a reply back from any of the companies you've contacted, promising that they won't go bust, I'd run a mile. No company is going to give you that assurance.

    In the meanwhile you've raised an interesting question the answer to which probably contains an element of commercially sensitive information and which is what is Pure Planet's involvement with renewable energy subsidies.
    I'm sure PP and others more knowledgeable than I about the subsidies (which are far from transparent) will be along with comments in due course.

    ​Good luck whoever you decide to go with, what you should be asking yourself is are there are outliers that seem very cheap, and what their business model is. In the meanwhile you might find THIS interesting
    1
  • hi pdab09
    I have a few comments but I don't represent PURE (not Purple) Planet. I'm just a customer.
    The article is somewhat misleading, the energy companies that went bust did so because they didn't do their accounting properly. If there was an inability to pay subsidies it's because they didn't allow for it in their financial planning, they didn't go bust because because they had to pay the subsidies, that was just a symptom of poor financial management.

    So what you're really asking is, is PP properly managed financially.

    I can't imagine for a moment that if PP do have to pay any subsidies to Ofgem, that it isn't properly accounted for.

    Inconvenient though it is for the customers whose energy co. goes bust, they are covered by Ofgem so even if PP were to go bust, (and my opinion is that they aren't going to, but then I would say that just by virtue or otherwise of being here) you'd get any owed money back.

    If you get a reply back from any of the companies you've contacted, promising that they won't go bust, I'd run a mile. No company is going to give you that assurance.

    In the meanwhile you've raised an interesting question the answer to which probably contains an element of commercially sensitive information and which is what is Pure Planet's involvement with renewable energy subsidies.
    I'm sure PP and others more knowledgeable than I about the subsidies (which are far from transparent) will be along with comments in due course.

    ​Good luck whoever you decide to go with, what you should be asking yourself is are there are outliers that seem very cheap, and what their business model is. In the meanwhile you might find THIS interesting


  • Thanks for the replies Jon1 & Woz. (Not sure where the Purple came from but I'll conveniently blame old age - longevity does come in handy sometimes!)

    Wholly agree with the points made but I suppose I was hoping for a reply (posted to other potential suppliers as well) on how they handle these subsidies and whether they were in a position to meet them. Will certainly be on-board with a smaller, customer focused, green supplier in the next couple of weeks once current deal ending, and in-spite of my question, I'm not overly concerned with the issue especially with Ofgem assurances.
    0
  • Thanks for the replies Jon1 & Woz. (Not sure where the Purple came from but I'll conveniently blame old age - longevity does come in handy sometimes!)

    Wholly agree with the points made but I suppose I was hoping for a reply (posted to other potential suppliers as well) on how they handle these subsidies and whether they were in a position to meet them. Will certainly be on-board with a smaller, customer focused, green supplier in the next couple of weeks once current deal ending, and in-spite of my question, I'm not overly concerned with the issue especially with Ofgem assurances.


  • hi pd
    I'm hoping PP will come along with some info about how the subsidies are handled, or whether/how they apply to PP. More info HERE about ROC's
    Quote Originally Posted by pdab09 View Post
    Thanks for the replies Jon1 & Woz. (Not sure where the Purple came from but I'll conveniently blame old age - longevity does come in handy sometimes!)

    Wholly agree with the points made but I suppose I was hoping for a reply (posted to other potential suppliers as well) on how they handle these subsidies and whether they were in a position to meet them. Will certainly be on-board with a smaller, customer focused, green supplier in the next couple of weeks once current deal ending, and in-spite of my question, I'm not overly concerned with the issue especially with Ofgem assurances.
    0
  • hi pd
    I'm hoping PP will come along with some info about how the subsidies are handled, or whether/how they apply to PP. More info HERE about ROC's
    Quote Originally Posted by pdab09 View Post
    Thanks for the replies Jon1 & Woz. (Not sure where the Purple came from but I'll conveniently blame old age - longevity does come in handy sometimes!)

    Wholly agree with the points made but I suppose I was hoping for a reply (posted to other potential suppliers as well) on how they handle these subsidies and whether they were in a position to meet them. Will certainly be on-board with a smaller, customer focused, green supplier in the next couple of weeks once current deal ending, and in-spite of my question, I'm not overly concerned with the issue especially with Ofgem assurances.