Ripple Energy

[Gomev]

I know that there are members here that have Ripple accounts. Looks like terrible news as Ripple have entered administration. I hope anyone with an account fares well and it is sold successfully.

 

[siteguru]

This is always a risk with the lesser-known energy suppliers. That's one reason why I haven't switched to Tomato energy, even though the prices look good.

 

[Bam Bam]

I know that there are members here that have Ripple accounts. Looks like terrible news as Ripple have entered administration. I hope anyone with an account fares well and it is sold successfully.

That is a real shame.

Their website seems to be working like usual.

My understanding was that it was a co-operative so it wasn't seeking profits.

@siteguru - they aren't an energy retailer but rather an energy investment scheme, where the payouts came in the form of credits on one's energy account.

 

[siteguru]

My understanding was that it was a co-operative so it wasn't seeking profits.

You can be a not-for-profit organisation, but you still need to be able to cover costs and other liabilities.

 

[Bam Bam]

You can be a not-for-profit organisation, but you still need to be able to cover costs and other liabilities.

Indeed. Most co-operatives fail for one reason or another.

However, you wouldn't have thought that their costs would be that great. I guess the costs were higher than anticipated.

Octopus have recently started offering the same sort of investment opportunity: Invest in British green energy with the Collective

 

[EVsince2016]

It is Ripple Energy that has failed not any of the cooperatives.

Ripple Energy are just a management company, not the owners of the wind or solar farms. My coop has fired Ripple and is looking for a new management company. Apparently, my payments will be delayed until the new set up is in place.

No losses for owners of any coops in service or under construction, however, ones in planning maybe a risk especially if the coops are not in place yet.

 

[Bam Bam]

It is Ripple Energy that has failed not any of the cooperatives.

Ripple Energy are just a management company, not the owners of the wind or solar farms. My coop has fired Ripple and is looking for a new management company. Apparently, my payments will be delayed until the new set up is in place.

No losses for owners of any coops in service or under construction, however, ones in planning maybe a risk especially if the coops are not in place yet.

Thanks for clarifying.

Ripple set up co-operatives and those will continue!

I suppose if their business model is about supporting co-ops and the co-ops fire you then they just don't have any business any more.

 

[Kevin Smith]

Thanks for clarifying.

Ripple set up co-operatives and those will continue!

I suppose if their business model is about supporting co-ops and the co-ops fire you then they just don't have any business any more.

I think they went into administration and were then being fired for breach of contract. I believe the money paid to invest in the coops is ring fenced until invested (with the probable exception of the investment fee).