British Company Ure Energy Has Been Stripped of its Licence As It Did Not Source Enough Renewable Energy

Electricity supplier Ure Energy has been stripped of its licence after failing to meet a commitment of generating a part of its electricity from renewable energy sources or otherwise paying a fee into a fund when it did not source enough renewable energy.

The Company ignored the request to pay into the fund by the August 31 deadline last year. Then the Ofgem market regulator made concessions by offering to set the late payment deadline on the 31st of October. The other day, when the amount of debt plus interest reached £209,014, Ofgem had to withdraw its licence from Ure Energy. A few days without the opportunity to sell electricity to its 7,500 customers and nearly 500 business customers were crucial. In the long run, Ure Energy paid a fee for the lack of electricity supplied from renewable energy sources and regained the right to trade.

The same situation arose with other 2 electricity suppliers – Energy Energy and Spark Energy, which were forced to leave the market last year. And a large supplier of 100% renewable energy Solarplicity Supply Ltd  announced that it is ceasing to trade now. The company explained that saw no prospects for further development under severe competition with small energy suppliers on a strictly controlled energy market.

Leave a Reply

Your email address will not be published. Required fields are marked *