Solarplicity Energy Limited (06895776): administration
- Status
- Administration ended
- Administration began
- 2019-08-19
- Administrators
- Stuart Morton, Matthew Robert Howard
- Administrators' firm
- Price Bailey
- Formerly
- Loco2 Energy Ltd
- Incorporated
- 2009-05-05
- Location
- Bishop's Stortford
- Industry
- 35130 Distribution of electricity
Why it went into administration
- Regulatory change or action
- Creditor pressure / legal action
- Over-expansion / investment not recovered
From the administrators' statement
The Company was incorporated on 5 May 2009 as LoCO2 Energy Limited, subsequently changing its name to Solarplicity Energy Limited on 27 April 2017. The principal activity of the Company was the distribution and trade of electricity. The Company’s operations were linked to those of its wholly owned subsidiary, Solarplicity Supply Limited (“Supply”), which had common directorship.
As the holder of an Electricity Supply Licence under the Electricity Act 1989 and Gas Supply Licence under the Gas Act 1986, Supply was regulated by the Gas and Electricity Markets Authority (Ofgem) and supplied gas and electricity to domestic and non-domestic customers up to 17 August 2019, when its licenses were revoked.
The Company’s entire operations were linked to the regulated activities of Supply. The Company historically incurred operating expenses in relation to the business of Supply such as office expenses, staff costs and other overheads. The Company managed the customer service, billing and collections processes for the business of Supply. Any reference to ‘the business’ in this report refers to the business collectively operated by Supply and the Company.
Administrators' statement of proposals (2019-11-15) · Companies House register