Ofgem has acted to compel supplier Symbio Energy to make payments it owes to small renewable energy generators under the ‘feed in tariff’ scheme and to give the regulator information on its cash flow forecasts.
Symbio Energy owes around £450,000 under the FIT scheme – a payment that should have been made by 11 August 2021. Ofgem said a promise by Symbio that it will pay 3 September, over three weeks late “will delay the distribution of this money to generators and suppliers”.
FIT payments are made quarterly.
Ofgem said its consultation on a ‘final order’ requiring Symbio to respond to a request for information on the supplier’s cash flow forecasts followed “its failure to make previous deadlines for payment into government renewable schemes”. Although the regulator said such requests were “common and routine” it said that 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.