The energy regulator is on the hunt for an company in the sector willing to take on the 10,000 customers left stranded in the wake of another collapsed provider in the industry. Tyneside-based Future Energy on Thursday became the second energy minnow to fold this winter, triggering a scramble to find a ‘last resort’ supplier willing to take on its customers at the same energy tariff rate. The regulator ensures that no energy customer is cut off, or loses their credit balance in the event of their supplier going bust, but the second company failure has reignited concern that Ofgem does not put strict enough financial tests in place when it allows new suppliers to come into the market. A senior industry source, speaking to the Daily Telegraph, predicted that one of the Big Six energy companies would be most likely to take on Future Energy’s customers to curry favour with the regulator, given the relatively small number of accounts.
Telegraph 25th Jan 2018 read more »
Profound questions about the security of Northern Ireland’s electricity supply were raised last night with the sudden announcement that the owners of Kilroot power station plan to close most of it in four months’ time, and begin closing parts of Ballylumford power station at the end of the year. The decision is as a direct result of the introduction of a new all-Ireland electricity market from May – something which gives added political significance to the development, with the Province now becoming more dependent on the Republic for its electricity. AES, the American owners of the two power stations which supply the bulk of Northern Ireland’s electricity, made the dramatic announcement last night, throwing into doubt the jobs – many of them highly skilled – of the 270 employees at the two sites and the 120 full-time contractors who work at the Carrickfergus and Islandmagee plants.
The i newspaper 26th Jan 2018 read more »