Executives from Delta Gas and Power have been invited to respond to Ofgem’s provisional order by 2nd February.

Business energy supplier Delta Gas and Power cannot enrol new customers to its services after the energy regulator raised concerns over its financial resilience a few months ago.

In November, Ofgem said the energy supplier failed to meet its “stress-test” assessments – for this reason, Ofgem ordered Delta to improve its financial position and prove it could operate effectively.

According to the energy regulator, the company did not appear to have adequate hedging in place at a time of volatile wholesale energy prices.

Delta was also banned to remove any money from the business “unless it constituted spending essential to the operation of Delta’s supply business”.

ELN has approached Delta Gas and Power for comment.

Article source: https://www.energylivenews.com/2023/01/12/supplier-given-deadline-before-ofgem-takes-further-action/