Ofgem sounds warning for Tomato Energy

Ofgem has confirmed a provisional order in respect of Tomato Energy.
Indicating plans for the provisional order, Ofgem said it had been contacted by “multiple industry parties in relation to the late or non-payment of financial liabilities by Tomato Energy” since 2024. It said that despite assurances by the company, “as of 10 April 2025 it has not provided evidence that it has taken the necessary action to bring itself into compliance with its ongoing obligations”.
On 2 April, Ofgem heard from multiple market participants that “ were considering commencing legal proceedings against Tomato Energy for the recovery of unpaid liabilities totalling over £3 million”.
The provisional order requires Tomato Energy to
• Obtain and maintain liquidity of a sufficient amount and quality so that it is able to meet its reasonably anticipated financial liabilities
• Put in place and maintain robust internal capability, systems and processes to enable the licensee to comply with relevant legislative and regulatory obligations
• Notify the Authority in writing as soon as reasonably practicable but no later than 7 days after it becomes aware that there is a Material risk that any Trigger Points will occur or any Trigger Points have occurred

The order will lapse on 7 July unless renewed and Ofgem has invited representations from the industry before that date.

Leave a Reply

Your email address will not be published. Required fields are marked *


*