Elexon to expel Neon Reef and Orbit Energy from BSC

According to Elexon, the companies have failed to reduce their credit cover percentage

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Elexon has announced it will expel Neon Reef and Orbit Energy from the Balancing and Settlement Code (BSC).

The decision means that the companies will not be able to take on new customers as they could not register any metering systems and further Balancing Mechanism Units.

The companies are the latest in a string of suppliers to have been booted out of the BSC.

The move is subject to approval from Ofgem.

A few days ago, the energy market regulator announced that four more energy suppliers went bust. 

Last week, new research by Cornwall Insight suggested almost half of the UK;s energy suppliers left the market since January.

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