Whoop Energy Ltd - Notice of Revocation of a Gas Supply Licence

NOTICE OF REVOCATION OF A LICENCE PURSUANT TO SECTION 7A OF THE GAS ACT 1986 WITH REASONS PURSUANT TO SECTION 38A

Notice of Revocation and Reasons for Decision

Whereas

1. Whoop Energy Ltd, formerly Go Effortless Ltd (company registration number 11611103), having its registered office at Chatterley Whitfield Enterprise Centre, Biddulph Road, Stoke-on-Trent ST6 8UW (the “Company”), 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.    Schedule 2(1)(a) 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 30 days’ notice if the licensee agrees in writing with the Authority that the licence should be revoked.

4.    On 17 January 2022, the Authority gave notice to the Company of its intention to revoke the Licence and the Company has agreed in writing that the Licence should be revoked.

5.    The Authority is therefore satisfied that Schedule 2(1)(a) to the Licence applies.

6.    For the following reasons, the Authority has decided that, in order to protect the interests of consumers, it is appropriate to give notice to revoke the Licence (with effect from 05:01 on 19 February 2022) in accordance with Schedule 2(1)(a) to the Licence:

6.1.    given that the Company has informed the Authority that it is unable to pay its debts as they fall due, that its assets are less than its liabilities and that it is therefore insolvent, that it intends to cease to trade and intends to appoint a liquidator, the Authority is not satisfied that the Company will be able to continue to provide or otherwise procure the services necessary for supplying gas to its customers or to pay charges under the industry arrangements;

6.2.    given that the Company has agreed, in writing, with the Authority that the Licence should be revoked;

6.3.    the Authority has decided to initiate the process to appoint a supplier of last resort (“SoLR”) pursuant to its powers under condition 8 of the Standard Conditions for Gas Supply, in order to ensure continuity of supplies of gas to the Company’s customers, and payment of appropriate charges from the date on which the SoLR direction takes effect; and

6.4.    the revocation of the Licence would ultimately be necessary for SoLR arrangements to come into effect.

Therefore

7.    The Authority hereby gives notice that, unless the Authority otherwise directs, with effect from 05:01 on 19 February 2022, the Licence shall be revoked.

Barry Coughlan

Duly authorised on behalf of the Gas and Electricity Markets Authority

17 February 2022