Howard Smith and Steve Absolom from Interpath Advisory have been appointed joint administrators to Social Energy Supply Limited.
Based in Brighouse and Gloucester, Social Energy Supply Limited was a dual-fuel energy supplier to about 5,500 domestic customers.
Like other retail suppliers, the company had suffered significant financial problems due to the recent material increases in wholesale gas prices. The company’s directors opted to initiate a Supplier of Last Resort (SOLR) process.
The business announced on 16 November 2021 that it was going to cease trading, with Ofgem then appointing British Gas as the new supplier for all Social Energy Supply customers.
Howard Smith, joint administrator and managing director at Interpath Advisory, said: “Social Energy Supply Limited was founded on the principles of delivering 100% renewable energy to customers while making bills more affordable.
“Regrettably however, the recent issues affecting the wider energy sector meant the business was not able to secure sufficient funding to enable trading to continue.
“Our priority over the coming days is to work closely with British Gas to ensure a smooth transition for all Social Energy Supply customers.”
The company was part of Social Energy Group, which supplies domestic, commercial and social housing customers with solar panels and battery storage.