Last Resort Supply Payment repayment direction 2026: Octopus Energy Operations 2 Limited (GoTo)

Details

We have been informed that Octopus Energy Operations 2 Limited (Octopus) has received a creditor dividend of £15,720.93 from the administrators of GoTo Energy (UK) Limited (“GoTo”).

Appointed Suppliers of Last Resort (SoLRs) can make Last Resort Supply Payment (LRSP) claims to ensure that customers of the failed supplier are compensated for their Customer Credit Balances (CCBs). This applies despite the SoLR being able to recover some of the money through the administration process of the failed supplier. 

Following appointment, we expect SoLRs to submit subrogated creditor claims to the administrators of the failed supplier for CCBs. However, administration proceedings for failed suppliers can take a long time, and the outcome can be uncertain, which is why we allow for CCBs to be claimed through a LRSP. Where a SoLR has claimed a LRSP for CCBs and subsequently receives recoveries relating to those funded amounts, those recoveries must be returned to consumers through the levy arrangements.

Since publication of the LRSP decision in 2023, Shell Energy Retail Limited (SERL) has been taken over by Octopus Energy in a trade sale. Octopus has accepted responsibility for ensuring repayment of creditor dividends awarded to SERL from the liquidation of failed suppliers where SERL was appointed as SoLR.

As a result, we have issued a Final Repayment Direction for repayment of £15,720.93 plus the relevant amount of interest specified in the Final Repayment Direction. The specific amounts to be paid to each relevant licensed gas and electricity network operator will be set out in the Final Repayment Direction, with repayment commencing from April 2027.