Ofgem orders Avro Energy to provide financial information

Press release

Publication date

Industry sector

Supply and Retail Market

Licence type

  • Electricity Supply Licence
  • Gas Supplier Licence

Ofgem is issuing Avro Energy with a provisional order, which compels it to provide the regulator with financial and other information relating to the company’s activities.

Ofgem requested the financial information on 19 August.

Avro Energy is now required to immediately provide this information and we expect them to engage in constructive discussions about their financial projections.

Failure to provide the financial information requested by Ofgem is a breach of Avro Energy’s licence conditions, which all suppliers in the market have signed up to.

Failure to comply may result in further enforcement action being taken by the regulator which could include a fine, or Avro Energy being stripped of its licence to operate in the GB market. (1)

Notes

  1. The obligation to provide information under this licence condition is enforceable by the Authority (Ofgem) as a relevant condition for the purposes of section 25 of the Electricity Act 1989 and section 28 of the Gas Act 1986. If the Authority considers that a licensee has contravened (and continues to contravene) a licence obligation, it may take enforcement action.

 

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Stephen Roberts: 020 7901 7460 / 07990 139516 stephen.roberts@ofgem.gov.uk 

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