The Dutch sister company of UK energy supplier One Select has had its energy licence revoked by The Netherlands Authority for Consumers and Markets (ACM).
On 15 October the Dutch ACM announced it had established that the supplier was no longer able to “comply with the requirements of its energy licence”.
It added that for the customers of Energie Flex, an “emergency procedure” is activated, which ensures that they will continue to receive electricity and natural gas.
The ACM said Energie Flex’s receiver will assess whether another energy supplier is able to take over its customers. The transmission system operators (TSOs) will guarantee the supply of energy during this period.
If the company is unable to find another supplier for its customers, they will be distributed among other energy suppliers.
During this transition period, which will last until 31 October, Energie Flex’s customers are temporarily unable to switch suppliers themselves.
As soon as customers have been transferred to another supplier, they will be notified of such transfer. They can then decide whether to stay with their new supplier or to switch to another supplier.
According to its website One Select, a new entrant into the UK energy market, describes its team as having “wide experience” of gas an electricity supply after launching the Dutch company in 2014.
The Reading-based company currently has more than 30,000 customers in England and Wales.
According to documents filed at Companies House, director Suthes Kumar Sampar ceased as a “person with significant control” on 1 August while Sivakumar Kandiah, a director, had their appointment terminated on 15 September this year.
Cateautje Hijmans van den Bergh, member of the board of the ACM, said: “Customers of Energie Flex do not need to worry. Even though their energy supplier has been granted a moratorium, the security of supply of electricity and natural gas is guaranteed for these customers. At this point, they do not need to do anything themselves.”
An Ofgem spokesperson said: “While we’re not able to comment on Ofgem’s ongoing compliance work, we routinely monitor suppliers’ compliance with regulatory rules.
“We typically liaise directly with suppliers where there is evidence of potentially widespread or serious problems.”
Utility Week has contacted One Select for comment but had not had a response at the time of publication.