• Loading stock data...
PublicWire | Emerging Market Stock News
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
No Result
View All Result
PublicWire
No Result
View All Result

Home » Energy » Robin Hood Energy fails to pay £9.5m in renewable energy subsidies

Robin Hood Energy fails to pay £9.5m in renewable energy subsidies

Al Restar by Al Restar
October 2, 2019
in Energy
4 min read
39
0

Robin Hood Energy has been collecting £9.5m in renewable energy subsidies from their customers through their energy bills, but the energy supplier owned by Nottingham city council has failed to remit them to the authorities. 

The fund, which is meant to be collected to support the funding for renewable energy research, has already been collected from the customers of Robin Hood Energy, but the company missed the deadline to pay its share of the money to the industry regulator, Ofgem last month. 

Robin Hood Energy has been collecting £9.5m in renewable energy subsidies from their customers through their energy bills, but the energy supplier owned by Nottingham city council has failed to remit them to the authorities. 

The fund, which is meant to be collected to support the funding for renewable energy research, has already been collected from the customers of Robin Hood Energy, but the company missed the deadline to pay its share of the money to the industry regulator, Ofgem last month. 

In the event that Robin Hood Energy is still unable to pay the subsidies and the respective fines for its late payment, Ofgem said hat the troubled energy provider might lose its license to distribute energy. 

Robin Hood Energy is not the only energy supplier that is at risk of losing their supply license for not paying the renewable energy subsidy. Delta Gas and Power, Gnergy, and Toto Energy, together with Robin Hood Energy need to pay up to £14.7 million to support the government’s renewable energy scheme. 

Of the four energy companies that owe money from Ofgem, Robin Hood owes the most, followed by Toto Energy. Toto Energy needs to pay £4.5m in renewable energy subsidies. 

Ofgem said that energy suppliers shrinking their contribution to the renewable energy scheme is “unacceptable.” Mary Starks, the executive director at Ofgem, warns suppliers that they “must meet their obligations, or pay the consequences.”

Gillian Guy, the chief executive of Citizens Advice, the consumer watchdog, said that if the energy suppliers still refuse to pay for the renewable energy, the tab would need to be picked up by consumers through higher bills. 

“This is not a new problem. Last year, less than half of the initial unpaid renewables obligation was ever paid back. Energy suppliers should not be allowed to build up these levels of debt in the first place,” she said.

Which is meant to be collected to support the funding for renewable energy research, has already been collected from the customers of Robin Hood Energy, but the company missed the deadline to pay its share of the money to the industry regulator, Ofgem last month. 

In the event that Robin Hood Energy is still unable to pay the subsidies and the respective fines for its late payment, Ofgem said hat the troubled energy provider might lose its license to distribute energy. 

Robin Hood Energy is not the only energy supplier that is at risk of losing their supply license for not paying the renewable energy subsidy. Delta Gas and Power, Gnergy, and Toto Energy, together with Robin Hood Energy need to pay up to £14.7 million to support the government’s renewable energy scheme. 

Of the four energy companies that owe money from Ofgem, Robin Hood owes the most, followed by Toto Energy. Toto Energy needs to pay £4.5m in renewable energy subsidies. 

Ofgem said that energy suppliers shrinking their contribution to the renewable energy scheme is “unacceptable.” Mary Starks, the executive director at Ofgem, warns suppliers that they “must meet their obligations, or pay the consequences.”

Gillian Guy, the chief executive of Citizens Advice, the consumer watchdog, said that if the energy suppliers still refuse to pay for the renewable energy, the tab would need to be picked up by consumers through higher bills. 

“This is not a new problem. Last year, less than half of the initial unpaid renewables obligation was ever paid back. Energy suppliers should not be allowed to build up these levels of debt in the first place,” she said.

Al Restar

Al Restar

An idealist straight from business school who works as a content marketer, digital branding consultant, and graphic designer. Outside work, he spends his time taking care of his cacti and painting watercolors.

Related Posts

ComEd preps response to restore power outages caused by storm and strong winds
Energy

ComEd preps response to restore power outages caused by storm and strong winds

June 10, 2020
133
President Donald Trump inspired a rise in oil futures after he said a deal between Saudi Arabia and Russia is underway.
Energy

Oil slightly recovers after Trump said a deal between Saudi Arabia and Russia might be reached in a ‘few days’

April 2, 2020
150
Oil refineries and storage facilities are about to reach their maximum capacity as the pandemic continues to shock demand.
Energy

Oil prices are approaching ‘negative territory’ as production increases after OPEC+ cuts expire

April 1, 2020
118
Senator Ted Cruz said that he and other GOP senators ecently ripped into the Saudi ambassador against weaponizing oil prices.
Energy

Ted Cruz: GOP senators warned Saudi Arabia against using oil as ‘economic warfare’ against Americans

March 30, 2020
151
The U.S. solar market installed 13.3 gigawatts (GW) of capacity in 2019, new report reveals.
Energy

US solar installations are expected to grow 47% in 2020 but coronavirus crisis might have an impact moving forward

March 17, 2020
115
Monday has seen a rise on oil prices, the first after six sessions of losses triggered by the coronavirus outbreak
Energy

Oil recovers after six sessions of losses as OPEC+ mulls to impose further cuts

March 3, 2020
127
Currently Playing

Subscribe To Our Newsletter

Ad

PublicWire | Emerging Market Stock News 24/7 | Investor Relations US Stock Market

© Copyright 2020 PublicWire.com

Navigate Site

  • About
  • #96576 (no title)
  • Disclaimer
  • Watch LIVE
  • Privacy Policy
  • Terms and Services
  • Contributors

Follow Us

No Result
View All Result
  • LIVE Investor News Channel
  • Cannabis
  • Energy
  • Finance
  • General
  • Medical
  • Podcasts
  • Retail
  • Technology
  • #370 (no title)

© Copyright 2020 PublicWire.com

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Public Wire Logo

Hello please subscribe to our newsletter to get up to date news weekly!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.