UPDATED: Symbio Energy and business supply company Whoop in default at BSC – three others in default or close monitoring

Avro Energy and Delta Gas and Power have been added to the list of power companies set to be expelled from the Balancing and Settlement Code. Both are in default of obligations over credit cover and for both, the BSC Panel “concluded that it had received no information from the Defaulting Party to indicate that there was a strategy in place or actions underway to resolve the Default”. A third company, AMPpower, is also in default and so far is subject to limitations such as being unable to register new metering systems, and close monitororing and review by Elexon.
Rising prices have meant the amount of credit cover that has to be lodged by energy companies under BSC rules has increased dramatically with more rises to come. On Monday it was proposed that the value of the Credit Assessment Price (CAP), on which credit requirements are set, shoud rise to £184/MWh, up from £137/MWh. A consultation on the hike will close on 28 September. It comes just a few days after it was decided, on 15 September, that on 5 October the CAP would increase to £137/MWh from its previous value of £113/MWh.

On 17 September
The BSC Panel has named two more energy suppliers in default of payments required under the Balancing and Settlement Code (BSc).
It said Symbio Energy was in default of charges due under the Code on three or more occasions over a 30 calendar day period. It said Whoop Energy (a Geenergy brand for business customers) had failed to meet requirements on credit cover and said it had received no information to indicate that there was a strategy in place or actions underway to resolve the default.
The suppliers will be expelled if they do not make response within 28 days.
Both are listed among companies with payments outstanding at the Low Carbon Contracts Company, which transfers payments under the Contracts for Difference and Capacity Markets regimes, in LCCC’s most recent register of late payments dated 10 September. At that time Symbio had not made payments totalling around £140,000 due in August and September. Whoop Energy’s outstanding payments in the 10 September LCCC register total £14,000 but some outstanding payments date back to May.
In August Ofgem proposed to make a final order respect of Symbio Energy saying it had refused to provide financial information requested by Ofgem, shortly after it fined Symbio Energy £100,000 for late payments required under the Renewables Obligation and FIT green energy schemes. Symbio was ordered to pay around £450,000 to the feed-in tariff scheme.

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