Ofgem: Renewable obligation buyout fund £200m short

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NEW data from Ofgem shows a £206m shortfall as dozens of energy suppliers were behind with payments to the renewable obligation buyout fund for the year to April 2019.

This resulted in a £205,998,428.26 shortage due to 42 suppliers not being able to meet the payment deadline of 1 September or 31 October.

These suppliers consequently owe late payments, which Ofgem will redistribute the deadline for before 1 January 2020.

Failure to set aside RO levies has contributed to a spate of supplier exits over the last two years, with Toto Energy the latest to cease trade and others could follow.