National Gas and Power Limited - Notice of revocation of an electricity supply licence
Licence revocation
- Publication date
- Company
- National Gas and Power Limited
- Industry sector
- Supply and Retail Market
- Licence type
- Electricity Supply Licence
Notice of Revocation and Reasons for Decision
Whereas
1. National Gas and Power Limited, (company registration number 09523569), having its registered office at 2 Pellon Place, Bradley Business Park, Dyson Wood Way, Huddersfield HD2 1GT, United Kingdom (“NGP”), is the holder of an Electricity Supply Licence (the “Licence”) granted or treated as granted under Section 6(1)(d) of the Electricity Act 1989 (the “Act”).
2. Section 6(8) of the Act provides that a licence granted or treated as granted under the Act may be revoked in accordance with any term contained in it.
3. Schedule 2(1)(f)(i) to the Licence provides that the Gas and Electricity Markets Authority (the “Authority”) may at any time revoke the Licence on giving not less than 24 hours’ notice to NGP where it is unable to pay its debts (within the meaning of section 123(1) of the Insolvency Act 1986).
4. On 30th May 2018 the Hudson Energy Supply UK Limited, a creditor, served a statutory written demand under section 123(1)(a) of the Insolvency Act 1986 for the sum of £212,113.73. Schedule 2(2) to the Licence extends the limit set in s.123(1)(a) to £100,000. NGP was unable to pay the full amount within the three weeks allowed by s.123(1)(a). Accordingly, the Authority deems that under the terms of section 123(1)(a) of the Insolvency Act:
a. NGP is unable to pay its debts (within the meaning of section 123(1)(a) of the Insolvency Act 1986) and;
b. therefore the condition, as set out in Schedule 2(1)(f)(i) of the Licence is satisfied.
5. The Authority notes that the sums have not been fully discharged.
6. For this reason, the Authority has decided that, in order to protect the interests of consumers, it is appropriate to give notice to revoke the Licence (with effect from 00:01 on 26 July 2018) in accordance with schedule 2(1)(f)(i) of the Licence.
Therefore
7. The Authority hereby gives notice that, unless the Authority otherwise directs, with effect from 00:01 on 26 July 2018, the Licence shall be revoked.
The Official seal of the Gas and Electricity
Markets Authority here
affixed is authenticated by –
Lesley Nugent
Authorised in that
behalf by the Authority