Small supplier Outfox the Market has been told by Ofgem that it must pay outstanding feed-in tariff payments of £602,930 by Wednesday 12 February, or it may have its licence revoked.
Foxglove Energy – the licence-holder, which trades under the ‘Outfox the Market’ name – was late making two quarterly FIT payments last year (Year 9 Quarter 2 and Quarter 4). When Ofgen asked for assurance over the upcoming payment, for FIT Year 10 Quarter 3, the supplier said it would be unable to make the payment. .
The FIT scheme, which is administered by Ofgem, provides payments to owners of small-scale renewable generators and is funded through levies on suppliers.
If Outfox the Market fails to comply, it could end up in having its licenced revoked and Ofgem may open a formal investigation into the potential non-compliance, which could result in the supplier paying a penalty, the regulator said.
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