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Ofgem opens investigation into Symbio Energy over ‘unacceptable’ late RO payments

Image: Getty.

Image: Getty.

Symbio Energy is being investigated by Ofgem over late Renewables Obligation and feed-in tariff (FiT) payments.

The energy supplier failed to demonstrate it sourced enough electricity from renewables by presenting Renewable Obligation Certificates (ROCs), and also failed to pay out into the buy out fund by the 1 September 2020.

A final order was issued by Ofgem on 28 October 2020, ahead of the supplier missing the late payment deadline of 31 October. When the outstanding payment was eventually made on 13 November 2020, this final order was revoked.

As well as not meeting Renewable Obligation deadlines, Symbio missed three other payment deadlines over a four month period for the government’s environmental schemes according to the regulator. This includes a RO mutualisation payment and two FiT quarterly levelisation payments.

Ofgem said that the opening of the investigation shows it “takes compliance with the feed-in tariff and Renewable Obligation seriously” and that not making payments on time is “unacceptable”.

The investigation will consider whether further enforcement action is necessary, including a financial penalty.

The regulator revealed in December that the RO shortfall came in at £33,135,933.32, resulting in mutalisation being triggered.

Of the suppliers that failed to meet the RO late payment deadline, ten have now either gone bust or had their licences revoked. This includes Gnergy, Tonik Energy and Effortless Energy among others.

Current± has contacted Symbio Energy for comment.

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