Uncategorized

Nabuh Energy: Statement

Nabuh is subject to the Renewables Obligation (RO) scheme which puts an obligation on UK electricity suppliers to source part of their energy supply from renewable energy. The scheme is a key component of the UK’s commitment to green energy.

Each supplier participating in the RO scheme is required to make an annual payment to OFGEM each year in respect of its RO commitments. The final deadline for this payment is the 31st October. In the absence of a payment being made, OFGEM publishes certain notices on its website to identify suppliers which have failed to meet their RO obligations.

We would like to make you aware that OFGEM will be publishing a notice in relation to Nabuh. In particular, the notice will outline that Nabuh has not made its RO payment within the prescribed time limit. Whilst Nabuh has made a significant payment towards its RO obligations, there is a balance of monies due to be paid.

The delayed payment is not a cause for concern for any of our suppliers or customers and OFGEM have been made aware of the nature of the circumstances which have led to a delay in the balance of the RO payment being made.

Nabuh predominantly supplies energy to homes with prepayment meters. The majority of suppliers have a much lower proportion of prepayment customers and consequently enjoy the benefit of monthly customer direct debit payments at a fixed amount. This to a large extent regulates cashflow and ensures that customers payments each month are consistent throughout the year. Nabuh’s business differs in that customer payments during the spring and summer months are low whereas payments during the autumn and winter are much higher.

Nabuh’s growth has been significant over the course of the past 12 months. Growth at this rate puts a degree of pressure on the business during the spring and summer months. It was anticipated that additional funding would be required to meet the RO payment before Nabuh enters the winter months. Additional funding has been arranged and agreed however due to circumstances beyond the control of Nabuh, we have experienced delays which have caused a delay in the full payment of our RO obligations.

OFGEM have been made aware that the balance of any RO monies due from Nabuh will be paid on or before 8 November 2019.

We take our regulatory and environmental obligations very seriously and would like to take this opportunity to apologise to our customers and suppliers for any concern that this issue may have caused.

If you have any questions or queries regarding the above, please contact our Media Team at mediateam@nabuhenergy.co.uk