Is Symbio Energy going bust? Are they in trouble?

With the rise in the cost of gas, some energy suppliers have got into trouble. This has been compounded by the energy price cap making it difficult for these suppliers to pass the increased costs onto customers. One supplier that has been rumoured to be going bust is Symbio Energy.

Has Symbio Energy gone bust?

Yes, as of 29th September 2021, Symbio Energy has gone bust.

There have been some reports online that Symbio is at risk of going bust but they are still an active company. They have not posted anything online to suggest they are in trouble and the only recent news related for them has come from issues with Ofgem.

Symbio has recently stopped taking on new customers. A message on their website says that this is due to technical issues. This however is not unusual given the current state of the energy market and other suppliers have done this too.

Has Symbio Energy been in trouble with Ofgem?

As mentioned above, Symbio has been in trouble with Ofgem. Earlier in the year they were in trouble with Ofgem twice. They were issued a £100,000 fine for missing the late payment for their Renewable Obligations and then received a provisional order to pay £450,000 into the Feed-In Tariff (FIT) scheme.

Most recently, on the 21st September, they were in trouble again. Ofgem issues them with a provisional order this time for failing to pay £146,238 into the FIT scheme.

How many people will be affected?

It is not known how many customers Symbio energy currently have. They are one of the most recent suppliers to the domestic energy market but also regularly one of the cheapest. Despite this, they are unlikely to have customers on the same level as Avro did, for example.

What do happens if they go bust?

If Symbio, or any supplier goes bust, then there is no need to panic.

You won’t lose your electricity or gas supply and your credit is safe. Ofgem recommends taking a meter reading (and cancelling your direct debit if you’d like) and then waiting for them to switch you to a new supplier.

You can read more about what to do in this post.

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Rob

Rob runs Energy-Review.co.uk. The project initially began when he switched energy suppliers for the first time and found there wasn't a website that provided simple, data backed reviews on all the suppliers available. Since then, Rob has spent considerable time looking at all publicly available data about each supplier and writing reviews using this information. Reviews are updated as regularly as possible and any data is backed up by a source where necessary. If you find any issues, please use our contact form to let us know.

8 Comments
  1. we too have suffered at their hands – they refused to accept meter readings despite even requesting them from us. They have overcharged us 3800kw and have refused to acknowledge our overpayments they owe us over £680 at least! i will never trust an energy company again they have behaved like criminals – helping themselves to our money in our account. Disgusting how the authorities have done nothing!
    to make matters worse despite them ceasing to trade they still tried to take a dd out of our account for October energy being supplied. Unbelievable.

  2. It took me five months of trying to contact Symbio Energy on almost 20 occasions to accept that at a change of supplier from SE, their charge of almost £700.00 for nine days energy use. When I refused to pay more than an accurate figure that I reckoned should be no more than £79.00 I received two Court Claims for an amount approaching £1,000.00. Eventually, five months later, the amount of usage that SE calculated, was £77.00, plus additional charges to £106.06, that I paid.
    I built a timeline showing all the emails and correspondence passing between us with, in the end, 19 events listed. This was passed on to the Ombudsman to consider for compensation: I am awaiting the outcome of this claim.

  3. Had an email yesterday increasing my monthly payment by 30% which seems strange as according to my calculations my account is in credit. Are they after money.

  4. I am an ex customer of Symbio and I am owed £140 by them. I have chased this for 4 months and have been told twice that the money will be refunded within 10 working days. Failed to happen! They are now asking me to be patient!! Clearly they haven’t any money.

  5. Am trying to leave this supplier having taken over the supply on moving. Unfortunately I left it late trying to switch and they will not accept my final reading stating it will have to be verified independently (some 3 to 6 weeks from my last call) it is now approaching the 6th week and have heard nothing and have been timed out on the customer service line. Fortunately I have paid nothing ( I received a wildly overestimated bill) If the visit to verify the meter read doesn’t occur I shall complain and use the ombudsman. A very poor company.

  6. As a customer of Symbio i can say they are hardwork. Their mobile app for android does not work so you cant enter your meter reading and photo as required. However their desktop app does work.

    The biggest problem with Symbio billing is they charge a month in advance. This means you are always getting estmated bills (inflated) which are then correctedwhen you get to the end of the month.

    In this current climate i am very nervous about building a credit balance and then them goig bust.

    • They are absolutely useless. We have built up a large credit over the last year and have tried to get it refunded but they won’t give us the full amount. They said they would reduce our monthly payment based on our last 12 months usage. But lo and behold we have just received notification of our October direct debit and it is unchanged. If there was an award for incompetence they would surely win it. My wife is going to cancel the direct debit until it is resolved as we are still well in credit.

  7. Symbio Energy have been refusing to refund my final bill credit for 6 weeks claiming they are “changing their banking partner”. In effect they have no bank to refund from! I, like many others are being fed this rubbish line! However they still have another bank for taking the money! I couldn’t work out if it was because they are using the money to pay into the FIT scheme as per Ofgems Order and to make them look good financially or whether they are trying to take as much money from us before they disappear! I guess we will soon find out.

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