Investigation into Economy Energy’s compliance with its Renewables Obligations

Opened:
Nov 2018
Closed:
Jan 2019
Company:
Economy Energy
Regulation Area:
Sectoral Regulations

Economy Energy ceased trading on 8 January 2019 and its licences to supply gas and electricity were revoked as of 12 January 2019.  

As a result, the investigation into Economy Energy and its compliance with its obligations under its Renewables Obligations has closed.

We were investigating whether Economy Energy complied with Article 68 of the Renewables Obligation Order 2015 (as amended) and Article 44 of the Renewables Obligation Order (Scotland) 2009 for the 2017/18 scheme year. Article 68 of the Renewables Obligation Order 2015 (as amended) and Article 44 of the Renewables Obligation Order (Scotland) 2009 mean that if a supplier has not paid the amount it owes (plus all interest) by the end of the late payment period (31 October) it will be treated as not having discharged its Renewables Obligations.

Economy Energy’s customers have been transferred to Ovo under the Supplier of Last Resort (SoLR) process. If you would like any further information regarding the SoLR process and how this is being managed please see: Economy Energy customers: Your questions on new supplier Ovo Energy.

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