Five energy suppliers warned they could lose their licences for failing to pay renewable obligations

Ofgem has issued a final warning to five energy suppliers that they will have their licences revoked for failing to pay more than £500,000 in renewable obligations.

What suppliers are at risk?

Are we about to see another five suppliers exit the market?

A revocation of their licences would result in the companies being forced to exit the market adding another five failed suppliers to the twenty two that have gone bust so far this year.

With wholesale gas prices ticking back up due to rising tensions between the EU and Belarus, already incredibly high pressure on suppliers is likely to remain for the near future.

A failure to pay their renewables obligations is often a major indicator that a company is in financial distress and is a good indicator that a suppliers will soon be forced to exit the market.

Also read: Ten Energy Suppliers are at risk as the renewables obligation deadline passes and Elexon blocks new customers

Looking to enter the UK energy market? Dyball Associates team of energy market consultants can guide you through the steps to get qualified and attain your gas or electricity licence. 

Whether you’re looking for electricity and gas systems or support on starting an energy supply company, Dyball Associates can help. 

Further Reading

Large Energy Suppliers see the best month for energy switching in eight years as consumers seek stability

The Department for Work and Pensions slammed for ‘damaging’ tariff switching message

Utility Warehouse pays £1.5 million to Ofgem for inadequate support of struggling customers

Dyball Associates are proud to help new supply businesses successfully launch in the UK market.

Through our energy market consultancy services, and the software we’ve developed, we’re supporting new UK electricity and gas suppliers get set up and start supplying.

For more information on how to start and manage an energy company, get in touch with Dyball Associates today.