Symbio Energy to make £450,000 payment into Government renewables schemes

Symbio has failed to make its Year 12 Quarter 1 FIT payment.

By Matt Maynard · 18th August 2021

Ofgem is issuing Symbio Energy with a provisional order for failing to pay its Year 12 Quarter 1 FIT payment by 11th August 2021, and is now paying £450,000 into Government renewable schemes as a result.

The Year 12 Quarter 1 FIT payment provides payments to owners of small-scale renewable energy generators. Any supplier who does not meet said payments is in breach of the rules of its supply licence, but Symbio Energy has assured Ofgem it will pay on 3rd September. 

Ofgem has also sent in a request to Symbio Energy for information on the supplier's cash flow forecasts, which comes after Symbio's failure to pay previous payments. If Symbio fails to comply, Ofgem could revoke its licence and may open up a formal investigation, which could result in Symbio paying another penalty. 

Source: Ofgem

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