Ofgem has revoked the licence of yet another energy supplier after it failed to meet so-called 'renewables tests'.
URE Energy’s licence to supply electricity has been stripped just days after the collapse of Solarplicity.
Under the government’s Renewables Obligation scheme, suppliers, such as URE, who do not source the required proportion of electricity from renewable sources, are required to pay into a buy-out fund administered by Ofgem.
However the regulator said the challenger supplier failed to meet both the buy-out payment deadline of 31 August 2018 and the late payment deadline of 31 October 2018.
It also failed to make the final cut-off of 31 March 2019, which required a payment of £209,013.78.
As a result, Ofgem has today revoked its licence to supply electricity.
For 2018-2019, suppliers have until 31 August 2019 to meet their obligation or can pay the amount owed plus interest within the late payment window until 31 October 2019.
If suppliers fail to meet their obligation, Ofgem can take action.
Last year, it opened investigations into Economy Energy and Spark Energy over their non-payment. Both have since exited the market.
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