Ofgem has initiated an investigation into Farringdon Energy Ltd.’s adherence to regulations governing the fair treatment of microbusinesses and their operational capacity.
Farringdon Energy Ltd., a UK-based non-domestic energy supplier headquartered in Essex, England, faces scrutiny over its compliance with Standard Licence Conditions (SLC) 0A and 4A.
SLC 0A mandates fair treatment of microbusinesses, requiring suppliers to conduct themselves in a fair, honest, transparent, appropriate and professional manner.
SLC 4A, on the other hand, demands that suppliers maintain operational capability, particularly in meeting regulatory standards and mitigating risks to customers.
Ofgem’s action follows information the regulator received that Farringdon may have received payments from approximately 200 customers and consumers for electricity it has not supplied, with evidence suggesting these consumers are unknowingly accruing debt to other energy suppliers.
Further details are contained within the Provisional Order, which imposes imposes specific actions for Farringdon to fulfil within designated deadlines, including refraining from sales, marketing and customer acquisition activities until the regulator verifies compliance.
The initiation of an investigation does not indicate that Ofgem has reached any conclusions regarding non-compliance.
