MGT Power Limited - Notice of revocation of an electricity generation licence

Licence revocation

Publication date

Company

Industry sector

Generation and Wholesale Market

Licence type

Electricity Generation Licence

NOTICE OF REVOCATION OF A LICENCE PURSUANT TO SECTION 6 TOGETHER WITH REASONS PURSUANT TO SECTION 49A OF THE ELECTRICITY ACT 1989

Notice of Revocation

Whereas

1. MGT Power Limited (company registration number 06419152), having its registered office at Olympia House, Armitage Road, London, NW11 8RQ, United Kingdom, is the holder of a Electricity Generation Licence (“the Licence”) granted or treated as granted under Section 6(1)(a) of the Electricity Act 1989 (“the Act”).

2. Section 6(8) 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. The terms of the Licence provide that the Gas and Electricity Markets Authority (“the Authority”) may at any time revoke the Licence on giving not less than 30 days’ notice to MGT Power Limited where it has passed a resolution for the winding up of the company.

4. By a resolution passed on 06 September 2016, MGT Power Limited resolved that the company would be wound up voluntarily.

Therefore

5. The Authority hereby gives notice that with effect from 06 June 2017 the Licence shall be revoked.

Reasons for Decision

6. The Authority has decided that the Licence should be revoked in accordance with paragraph 1(f)(iv) of Schedule 2 of the Licence because the Licensee passed a resolution for the winding up of the company on 06 September 2016.

The Official seal of the Gas and Electricity Markets Authority here affixed is authenticated by –

Lesley Nugent

Authorised in that behalf by the Authority