Solarplicity Supply Limited (08053210): administration
- Status
- Administration ended
- Administration began
- 2019-08-19
- Administrators
- Matthew Robert Howard, Stuart Morton
- Administrators' firm
- Price Bailey
- Formerly
- Loco2 Energy Supply Ltd.; Ganymede Energy Supply Limited
- Incorporated
- 2012-05-01
- Location
- Bishop's Stortford
- Industry
- 35140 Trade of electricity
Why it went into administration
- Regulatory change or action
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Over-expansion / investment not recovered
From the administrators' statement
The Company was incorporated on 1 May 2012 as Ganymede Energy Supply Limited, subsequently changing its name to LoCO2 Energy Supply Limited on 18 Mar 2014 and Solarplicity Supply Limited on 27 Apr 2017. The principal activity of the Company was the distribution and trade of electricity and gas. The Company’s operations were finked to those of its sole shareholder, Energy, 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, the Company 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.
Energy historically incurred operating expenses in relation to the business such as office expenses, staff costs and other overheads, Energy managed the customer service, billing and collections processes for the business of the Company. Any reference to ‘the business’ in this report refers to the business collectively operated by the Company and Energy.
Administrators' statement of proposals (2019-11-15) · Companies House register