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HomeNewsElectricity provider Elysian Energy collapses after price hike

Electricity provider Elysian Energy collapses after price hike

An energy provider has been suspended from the national electricity market and will be banned from trading after being placed in voluntary administration.

Elysian Energy, the majority of whose customers are Victoria-based, will be taken off the market from Friday, the Australian Energy Market Operator confirmed.

Insolvency experts Adrian Hunter and Robyn Erskine of Brooke Bird have been appointed as administrators of the company.

Customers of the provider are expected to be transferred to a different provider.

“Elysian Energy customers do not have to worry about their electricity being cut off during this transition,” Mr Hunter said in a statement.

“We are working hand-in-hand with the Essential Services Commission, the Australian Energy Regulator and AEMO to ensure this is a smooth process for all the customers.”

Elysian provides about 7500 houses with solar energy.

The closure…

Read more at www.news.com.au

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