Ofgem could fine Symbio Energy £100,000 for late payments

Late payments into the Government renewables schemes could prove costly for Symbio energy.

By Matt Maynard · 27th January 2021

The last four of Symbio Energy's payments into the renewables schemes have been late, only paying the fees in response to Ofgem's enforcement. 

Ofgem has proposed a £100,000 fine, which will be reduced to £85,000 if Symbio Energy agrees to settle. 

2020 saw Symbio miss obligatory payment deadlines into the Renewables Obligation (RO) scheme, while also failing to present the required number of RO certificates by the deadlines of 31st August and 1st September 2020. Symbio also paid a payment due 31st October two weeks late, while also missing three other payment deadlines over a four-month period. 

Senior management were aware that the company was breaking rules by missing payment deadlines and did not prevent the rule-breaking from taking place.

Ofgem recognises the difficulties Covid-19 has caused, but other suppliers have met the payments on time regardless. However, Symbio has since made all payments totalling around £1.2 million. 

Cathryn Scott, Ofgem’s Director of Enforcement and Emerging Issues, said:

“Schemes like the Renewables Obligation and Feed-in Tariff provide vital support to renewable electricity generators and are crucial to building a green energy system, helping Britain hit Government net zero carbon emissions targets."

“Suppliers that do not make payments on time undermine the integrity of these schemes, gain unfairly financially, and ultimately leave consumers and other suppliers to pick up the tab."

“This proposed fine sends a strong message that Ofgem will not tolerate suppliers who do not meet their obligations around paying into these schemes and that growth cannot be at the expense of meeting regulatory obligations.”

Source: Ofgem

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