REG - OFGEM - Ofgem orders energy firm to provide information
31/03/2022 13:15
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220331:nRSe7887Ga&default-theme=true RNS Number : 7887G OFGEM 31 March 2022 Ofgem orders UK Energy Incubator Hub Ltd to provide financial information Ofgem is issuing UK Energy Incubator Hub Ltd (formerly Euston Energy) with a provisional order, which compels it to provide the regulator with financial and other information relating to the company's activities. UK Energy Incubator Hub Ltd is a domestic supplier, serving approximately 4,000 customers, and operating under two brands, Northumbria Energy and Neo Energy. UK Energy Incubator Hub Ltd is now required to immediately provide this information and we expect them to engage with Ofgem in a constructive manner. Failure to provide the information requested by Ofgem is a breach of UK Energy Incubator Hub Ltd's licence conditions, which all suppliers in the market are required to comply with. Failure to comply with a provisional order may result in further enforcement action being taken by Ofgem which could include UK Energy Incubator Hub Ltd being stripped of its licence to operate in the GB market. Notes to editors · 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. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END IRSBKDBKDBKDONN