Natwest Markets PLC - 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 WITH REASONS PURSUANT TO SECTION 38A OF THE GAS ACT 1986<br/>
Notice of Revocation
Whereas
1. Natwest Markets PLC, (company registration number SC090312), having its registered office at 36 St Andrew Square, Edinburgh, EH2 2YB, 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. Paragraph 1(e) of Schedule 2 of the Licence provides that the Gas and Electricity Markets Authority (the “Authority”) may at any time revoke the Licence on giving no less than 30 days’ notice to Natwest Markets PLC where it has not commenced the licensable activity within 3 years after the date on which the Licence comes into force or has ceased to supply gas to all customers for a period of 3 years.
4. The Licensee has not commenced the supply of gas to any premises within 3 years of the Licence coming into force.
Reasons for Decision
5. The Authority has decided that the Licence should be revoked in accordance with paragraph 1(e)(i) of Schedule 2 of the Licence because the licensee has not within 3 years after the date of the Licence grant commenced the supply of gas to any premises within the specified area in Schedule 1.
Therefore
6. The Authority hereby gives notice that, unless the Authority otherwise directs, the Licence will be revoked with effect from 05:01am on 14 March 2022.
Lynn Parker
Duly authorised on behalf of the Gas and Electricity Markets Authority
09 February 2022