GEN4U Ltd - Notice of revocation of a gas supply licence
Licence revocation
Publication date
Company
Industry sector
Supply and Retail Market
Licence type
Gas Supplier Licence
NOTICE OF REVOCATION OF A LICENCE PURSUANT TO SECTION 7A TOGETHER WITH REASONS PURSUANT TO SECTION 38A OF THE GAS ACT 1986
Notice of Revocation and Reasons for Decision
Whereas
1. GEN4U Ltd, (company registration number 07851899), having its registered office at Bizspace, Room 4 Albion Mills, Albion Road, Bradford, England, BD10 9TQ ("GEN4U"), is the holder of a Gas Supply Licence (the "Licence") granted or treated as granted under section 7A(1)(a) of the Gas Act 1986 (the "Act").
2. Section 7B(3) of the Act provides that a licence granted or treated as granted under the Act may be revoked in accordance with any term contained in it.
3. Schedule 2(1)(f)(iv) to the Licence provides that the Gas and Electricity Markets Authority (the "Authority") may at any time revoke the Licence on giving not less than 24 hours’ notice to GEN4U where it passes any resolution for winding-up other than a resolution previously approved in writing by the Authority.
4. On 11 September 2018 the Chancery Division of the High Court issued an order granting permission for GEN4U to pass a resolution for voluntary winding-up.
5. On 13 September 2018, GEN4U passed a winding-up resolution and the Authority is satisfied that Schedule 2(1)(f)(iv) of the Licence applies, giving the Authority the power to revoke the Licence.
6. For the following reasons, the Authority has decided that, in order to protect the interests of consumers, it is appropriate to give notice to revoke the Licence (with effect from 05:01 on 15 September 2018) in accordance with schedule 2(1)(f)(iv) of the Licence:
a. given that GEN4U has passed a winding-up resolution, the Authority is not satisfied that the company will be able to continue to provide or otherwise procure the services necessary for supplying gas to its customers or to pay charges under the industry arrangements;
b. the Authority has decided to initiate the process to appoint a supplier of last resort ("SoLR") pursuant to its powers under condition 8 of the Standard Conditions for Gas Supply, in order to ensure continuity of supplies of gas to GEN4U’s customers, and payment of appropriate charges from the date of which the SoLR direction takes effect; and
c. the revocation of the Licence would ultimately be necessary for SoLR arrangements to come into effect.
Therefore
7. The Authority hereby gives notice that, unless the Authority otherwise directs, with effect from 05:01 on 15 September 2018 the Licence shall be revoked.
The Official seal of the Gas and Electricity Markets Authority here affixed is authenticated by –
Lesley Nugent
Authorised in that behalf by the Authority