Tonik Energy has become the latest small supplier to go bust just weeks after failing to pay its Renewable Obligation (RO) fees. The supplier – which has around 130,000 domestic customers – is now ceasing to trade. It was named as one of six suppliers to have missed the deadline for paying RO fees, with Ofgem stating they also hadn’t provided “adequate assurances” they will make the payments by the late payment deadline of 31 October.
Current News 6th Oct 2020 read more »
Utility Week 6th Oct 2020 read more »
At least half a dozen energy suppliers have collapsed this year as the pandemic amplified the strain of a highly competitive market and razor-thin margins. There is growing concern among suppliers that some customers will not be able to pay for their gas and electricity in the coming months if they are made redundant once the Government’s furlough scheme ends. A number of firms have said some customers are cancelling direct debits – an early indication they are struggling to make payments.
Telegraph 6th Oct 2020 read more »