Three more energy suppliers have defaulted out of Elexon’s Balancing and Settlement Code (BSC).
After failing to sufficiently reduce their credit cover percentage over a period of two working days, Simply Your Energy, Maxen Power Supply and Omni Energy are to be expelled from the BSC.
Subject to approval, neither Simply Your Energy of Maxen Power Supply will be able to take on new customers, as their right to register metering systems and further register any Balancing Mechanism Units (BMUs) has been suspended.
In the case of Omni Energy, Elexon noted that its panel has now considered it to be the defaulting party and would expel the company from the BSC entirely following approval.
The company ran into trouble this month when it began automatically switching energy customers to rival energy suppliers, after it expressed concern that it would shutter soon amid high power prices.
A string of suppliers have closed in recent months due to these prices, which have been largely driven by a global gas shortage. This includes Goto Energy, Pure Planet, Colorado Energy and Daligas closing in October, and ten suppliers closing in September.
Many of these first defaulted out of the BSC including GoTo Energy, Colorado Energy, Igloo Energy and ENSTROGA in October, and Avro Energy, Utility Point, People’s Energy, PfP Energy and MoneyPlus Energy in September.
Most recently, MA Energy was expelled from the BSC, as power prices remain high as we enter the winter period.
