Challenger supplier Solarplicity has insisted its accounts are ready to be issued to Companies House, despite them being overdue by almost four months.
The company, which was recently banned from taking on new customers by Ofgem for up to three months over customer service issues, said it may see through the provisional order before filing its accounts.
A spokesperson told Utility Week: “As we said previously, Solarplicity’s accounts are with our auditors and are ready to be issued to Companies House.
“However, Ofgem’s recent proposals in respect of the provisional order may require that we see this process through to completion first, as an immediate priority, before we file our accounts. Our accountants are fully aware of these circumstances.”
With regards to the provisional order, which was further modified on 18 April, Solarplicity says it is continuing to work with the regulator to resolve the “historic issues”.
The spokesperson added: “We are confident that the improvements that we are making will show Ofgem that these problems have been sufficiently addressed by the provisional order lapse-date of 22 May.
“We remain committed to meeting the expectations of every single Solarplicity customer while fighting fuel poverty for thousands of customers by offering cheaper, cleaner energy for households up and down the UK.”
Overdue accounts or extending an accounting period, as seen with the failure of Economy Energy, may be a sign that the company is in trouble according to industry sources.
A source previously told Utility Week there was a “concerning trend” of suppliers who are late filing their accounts, or who reduce their accounting year end by one day to buy an extra three months to file their accounts.
The source added: “In our experience this can be linked to disagreements with auditors over the state of the accounts – or the accounts not being in a fit state to file.”
Last month Solarplicity denied rumours it was about to enter the supplier of last resort (SoLR) process but confirmed it had let 27 of its meter installers go.
The energy retailer said the figure was “around 50 per cent” of its installers partly due to the regulator’s provisional order.
Earlier this year Ofgem banned Economy Energy from taking on new customers due to poor customer service. The supplier later ceased trading.
Another challenger supplier, Iresa, was also banned from taking on new customers last year and subsequently exited the market.
Solarplicity scored 2.15 stars out of five in Citizens Advice’s latest customer service rating table and ranked bottom in the annual Which? satisfaction survey published in January.
The Energy Ombudsman previously confirmed the supplier was subject to 1,035 investigations into complaints in 2018.