The Australian Energy Regulator (AER) has revoked the authorisation of gas retailer GoEnergy Pty Ltd (trading as Go Energy) following the appointment of external administrators and subsequent suspension from the gas Short Term Trading Market (STTM) by the Australian Energy Market Operator (AEMO).
This follows Go Energy’s suspension from the National Electricity Market (NEM) and revocation of its electricity retailer authorisation on Saturday 2 April 2016.
The failure of Go Energy’s gas retail operations has only impacted a small number of large commercial customers in New South Wales and Queensland, with no residential or small business customers affected.
“The Retailer of Last Resort (RoLR) scheme set up under the National Retail Energy Law protects customers in the event of a failed energy retailer by ensuring the energy supply to customers of that retailer is not interrupted. Affected customers will continue to be supplied by other retailers,” AER Board member Jim Cox said.
The AER is responsible for overseeing the national Retailer of Last Resort (RoLR) scheme.
The scheme is principally designed to ensure that in the event of retailer failure, arrangements are in place to ensure that customers continue to receive electricity and/or gas supply. If an energy retailer fails, the AER has the power to transfer customers to a new retailer.