Grant Nicholson, a former cricketer and the Founder of Planet-U Energy, is among several new applicants who are seeking energy supply licenses in the wake of falling wholesale electricity costs.

Planet-U Energy had faced financial difficulties and collapsed in July 2021, leading Nicholson to explore new avenues within the energy sector.

A few days ago, Stallion Power Limited announced its application for an electricity supply licence.

This development comes at a time when Jonathan Brearley, the Chief Executive Officer of Ofgem, acknowledged the possibility of new suppliers entering the market to fill the gap left by the departure of several providers nearly two years ago.

During a session of the Public Accounts Committee last week, Jonathan Brearley expressed the expectation of new entrants, stating, “We’re absolutely expecting there to be new entrants.

“We are seeing license applications come into Ofgem, and, of course, subject to the financial part of that – to make sure that they’re robust enough to manage – then we’d welcome them.”