iSupply Energy to pay £1.5m after business failings

iSupply Energy is to pay a total of £1.5million in refunds and goodwill payments after more than 115,000 customers were impacted by historic failings.

The energy supplier was found to have incorrectly charged customers and failed to adequately update the Priority Service Register for vulnerable users.

These failings between 2013 and 2019 impacted more than 115,000 customers and energy regulator, Ofgem, has confirmed it will pay £1.5 million  made up of refunds, goodwill payments and redress.

As part of Ofgem’s compliance work, it found that incorrect charges were applied during contract renewals and incorrect VAT rates were applied to certain charges levied to customers.

Ofgem said iSupply had ‘insufficient governance and processes in place to prevent and swiftly address non-compliance, which resulted in a range of issues that ultimately caused consumer harm’.

While iSupply has confirmed it has improved its governance and processes, the redress package includes:

• Direct customer refunds totalling £809,220.41
• Customer goodwill payments totalling £595,290
• Payment into the Voluntary Redress Fund totalling £95,489.59.