Ofgem orders Symbio Energy to make £450,000 payment into government renewables scheme
Ofgem is issuing Symbio Energy with a provisional order, which compels it to pay around £450,000 in full for a government environmental scheme.
The Feed In Tariff (FIT) scheme, which is administered by Ofgem, provides payments to owners of small-scale renewable energy generators, and is funded through compulsory levies on suppliers.
Any supplier that fails to pay its payment by the deadline of August 11 is in breach of the rules of its supply licence.
Symbio has failed to make its Year 12 Quarter 1 FIT payment by the deadline and has told Ofgem it will pay on September 3, over three weeks late. This will delay the distribution of this money to generators and suppliers.
At the same time, Ofgem is consulting on a final order requiring Symbio to respond to a request for information on the supplier’s cash flow forecasts.
The request follows its failure to make previous deadlines for payment into Government renewable schemes. This kind of request for information is common and routine for Ofgem to issue.
If Symbio fails to comply, it could end up having its licence revoked and Ofgem may open a formal investigation into the potential non-compliance, which could result in the supplier paying a penalty.