Urth Energy, a self-billed “boutique” energy retailer centered on solar panels, recently appointed an external administrator, thereby affecting about 800 customers.
According to the Australian Energy Regulator, the company suspended its operations in the national electricity market the day after administrators were called in.
Following these events, all the company’s customers will be transferred to other existing electricity retailers including AGL in South Australia and Origin Energy in New South Wales and Queensland.
None of the company’s officials could be contacted to comment and clarify reasons that led to the appointment of an external administrator.
Based on a last year survey of market offers, Urth Energy was the most expensive of all the energy retailers, although experts believe this was largely because of the company’s huge reliance on clean energy sources to provide electricity.
According to another study published by the St Vincent’s de Paul Society, each year Urth’s offering to its clients was $500 more expensive than the lowest market offering.
The Australian Energy Regulator released a statement to this effect adding that those affected have been transferred to ensure uninterrupted electricity supply.
“Approximately 800 electricity customers in South Australia, Queensland and NSW are affected … The power supply to these customers will not be interrupted,” said AER acting chairman Cristina Cifuentes.
“Depending on where the customers are located they were transferred to either AGL, Origin Energy, or EnergyAustralia.”
The new retailers are expected to communicate to the affected customers, explaining in writing every arrangement made to bring customers up to speed with available options for their ongoing power supply, she added.
These customers will not be obligated to remain with their new retailer, and will be free to transfer to an energy retailer of their choice at any given stage.
