Outfox the Market to pay £600,000 to Ofgem in Feed-in Tariffs

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OFGEM is issuing Outfox the Market (Foxglove Energy Supply Ltd) with a provisional order to pay £602,930 in full for the Feed-in Tariffs (FIT) scheme by 12 February.

The FIT scheme, which is administered by Ofgem, provides payments to owners of small-scale renewable generators and is funded through levies on suppliers.

Any supplier who fails to pay its Levelisation Payment by the deadline will be in breach of Electricity Supply Standard Licence Condition (“SLC”) 33.

Outfox the Market has told Ofgem that it will not make its upcoming FIT payment by 12 February 2020 for Year 10, Quarter 3 of the scheme.

Therefore, Ofgem believes that Outfox the Market is likely to contravene SLC 33.

If Outfox the Market fails to comply, it could end up in 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.