Australia’s first community-owned energy retailer falls victim to market chaos – Smat 能源 News

Smat 能源 News 启运配资股票100倍官网

Australia’s first community-owned energy retailer, the Byron Bay-based Enova Energy, has entered into voluntary administration, a victim of the ongoing crisis in the National Electricity Market fuelled by the soaring cost of fossil fuels.

Administrator Simon Cathro was appointed on Tuesday, according to an ASIC notice, with a first creditors meeting scheduled to be held on June 30.

The news comes less than one week after the Australian Energy Market Operator took the unprecedented step of suspending the operation of the NEM’s wholesale spot market, declaring it “impossible to operate” under what were increasingly chaotic pricing and supply conditions.

The extended high wholesale price conditions, which continue under the suspension order, have been particularly tough on small retailers, many of which have been shedding customers and even asking them to move to other suppliers to avoid paying up to 100% more for their power.

There have been fears about the future of small retailers in the fact of unrelenting high prices, and Enova is the highest profile victim to data.

Headquartered in Byron Bay, the local renewables-focused Enova signed up its first customer in May, 2016. Within three years it had gathered more than 1600 shareholders and created more than 20 jobs in the Northern Rivers region.

More to come

 

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