British Gas buys Robin Hood Energy
Unfortunately, another energy company has closed.
Robin Hood Energy provided 100% green electricity to both domestic and business customers.
What happened to Robin Hood Energy?
The signs were on the doors last year. Ofgem chased Robin Hood Energy in October 2019 for £9.5m. This is the sum the energy supplier owed in overdue Renewables Obligation payments.
Renewables Obligation is added to customer bills (included in energy prices along with other third-party costs). Energy companies then pay this into a fund at the end of the year. However, several smaller suppliers had to spend these reserves, to try and stay in business.
In the case of Robin Hood Energy, they were bailed out by Nottingham City Council, who ran the business. This was in the form of a loan.
Earlier this year, Robin Hood Energy posted a loss of over £23m.
Robin Hood Energy were the energy supplier for my business.
What happens next?
British Gas have bought Robin Hood Energy. Robin Hood Energy supplied electricity to 112,000 domestic customers. And 2,600 business customers which had a combined number of around commercial 10,000 sites.
British Gas will write to customers of Robin Hood Energy.
If you were a customer of Robin Hood Energy, you can either accept the prices offered by British Gas or move to a supplier of your choice.
Plenty of green options available
Did you originally decided to join Robin Hood Energy for your business electricity, due to their renewable and green credentials?
If so, you may be surprised to know that there is a large range of 100% green, business electricity options available to you.
As an independent energy broker, we have access to these tariffs from a number of energy companies.
You can call our friendly team on 020 3372 6517 for more information.