close
Share with your friends

Spark Energy Supply Limited (in administration)

Spark Energy Supply Limited (in administration)

Blair Nimmo and Alistair McAlinden of KPMG were appointed Joint Administrators of Spark Energy Supply Ltd yesterday (28 November 2018)

1000

Also on home.kpmg

Blair Nimmo and Alistair McAlinden of KPMG were appointed Joint Administrators of Spark Energy Supply Ltd yesterday (28 November 2018).

 

Spark Energy Supply Ltd was part of the Spark Energy group of companies, and was the subsidiary that supplied gas and electricity to around 290,000 customers UK-wide.

 

All customers of Spark Energy Supply Ltd transferred to Ovo Energy, as announced by Ofgem (27 November). This was a government-regulated process conducted by Ofgem.

 

Spark Energy Supply Limited had no employees. All of Spark Energy’s 400 staff were employed by Spark Energy Limited which is now owned by Ovo Energy as announced by Ovo.

 

No other companies which are part of the Spark Energy group, are affected by the administration of Spark Energy Supply Ltd.

 

The Joint Administrators’ role is to now collect any outstanding balances from current or former customers which are owed to Spark Energy Supply Ltd.

 

Blair Nimmo, UK Head of Restructuring at KPMG, said “Recent major changes in the energy sector have been well-documented and unfortunately Spark Energy found itself unable to avoid the challenges it, and other similar suppliers, have faced. 

 

“Against this backdrop, it is to their credit that the Spark team has been able to navigate a route through these challenges, securing a continuation of service for its customers and protecting its employees. We are pleased to have played a part in securing this outcome and will endeavour to help minimise the financial impact on Spark Energy Supply Limited’s creditors.  We wish Ovo every success in continuing the journey started by Chris Gauld and the rest of the Spark team.

 

“Our role now, as administrators to Spark Energy Supply Ltd, is to work with those customers who owed money to the company to collect the outstanding balances. We will be working with Spark Energy and Ovo Energy to contact those customers shortly.”

 

The money collected by the Joint Administrators will go to Spark Energy Supply Limited creditors.

 

If you are a current or former Spark Energy customer who has an outstanding debt, you will be contacted either by KPMG, its appointed third party, or via Spark Energy, to discuss repayment options.

 

Customers who had paid in advance to Spark and had a credit balance at the time Ovo Energy took over, will have that balance honoured by the new supplier.  These customers will not be contacted by KPMG or any third party acting on its behalf.

 

Further information can be found on the Ofgem website here

 

-Ends-

 

For any customer enquiries, please contact:

 

·        Spark Energy here

·        Ovo Energy here

·        Ofgem here

 

For media enquiries only, please contact:

Phil Addicott, KPMG press office in Scotland

T: 0141 333 9585

M: 07824 666956

E: phil.addicott@bigpartnership.co.uk

 

KPMG Press Office: 020 7694 8773

 

About KPMG in the UK

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff.  The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

© 2019 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 15 Canada Square, London, E14 5GL, UK.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal