On 1 October 2021, the Authority published its notice of proposal to issue a Final Order (FO) on Colorado Energy under Section 25(1) of the Electricity Act 1989.
The particular behaviour of concern giving rise to the proposed FO was that Colorado Energy failed to meet its Renewables Obligations (RO), by failing to produce Renewables Obligation Certificates to the Authority by 1 September 2021, or to make payments as an alternative by 31 August 2021, sufficient to discharge its RO.
Colorado Energy subsequently failed to provide robust assurances that it could and would be in a position to make the necessary late payment, including applicable interest, by the late payment deadline of 31 October 2021.
As Colorado Energy ceased trading on 13 October 2021, the Authority has taken the decision not to proceed with issuing a FO.
The Authority will engage with Colorado Energy's administrators and seek to recover as much money as possible through that process.