Social Energy Supply Limited - Notice of Revocation of a Gas Shipper Licence
Licence revocation
Publication date
Company
Industry sector
Generation and Wholesale Market
Licence type
Gas Shipper Licence
NOTICE OF REVOCATION OF A LICENCE PURSUANT TO SECTION 7A WITH REASONS PURSUANT TO SECTION 38A OF THE GAS ACT 1986
Notice of Revocation
Whereas
1. Social Energy Supply Limited (company registration number 10300609.), having its registered office at C/O Interpath Advisory, 4th Floor, Tailors Corners, Thirsk Row, Leeds, LS1 4JF is the holder of a Gas Shipper Licence (“the Licence”) granted or treated as granted under section 7A(2) 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. Schedule 2(1)(f)(i) to the Licence provides that the Gas and Electricity Markets Authority (the “Authority”) may at any time revoke the Licence on giving not less than 24 hours’ notice where the licensee is unable to pay its debts (within the meaning of section 123(1) or (2) of the Insolvency Act 1986).
4. On 18 November 2021, the Authority made an application to the Chancery Division of the High Court (the “Court”) under Part 8 of the Civil Procedure Rules for a declaration to the effect that:
4.1. the Company is unable to pay its debts (within the meaning of section 123(1)(e) and (2) of the Insolvency Act 1986)
5. On 19 November 2021, the Court issued an order making a declaration to the effect set out in paragraph 4 above and, therefore, the Authority is satisfied that Schedule 2(1)(f)(i) to the Licence applies.
Reasons for Decision
7. The Authority has decided that the Licence should be revoked in accordance with paragraph 1(f)(i) of Schedule 2 of the Licence because the licensee is unable to pay its debts (within the meaning of section 123(1) or (2) of the Insolvency Act 1986).
Therefore
8. The Authority hereby gives notice that, unless the Authority otherwise directs, with effect from 05:01 08 April 2022, the Licence shall be revoked.
David Hall
Duly authorised on behalf of the Gas and Electricity Markets Authority