Date lodged: 31 January 2019
To ask the Scottish Government, in light of the comment by the chairman of the failed energy company, Our Power, that "it is unclear what the level of financial backing is required for a new entrant to cope with market volatility and regulatory change", what it can learn from the collapse of this supplier regarding preparing for a publicly-owned energy company.
Answered by: Paul Wheelhouse 26 February 2019
The development of the outline business case and our future decisions for the Scottish Government’s ambition of a public energy company will take into account the lessons to be learnt by the withdrawal from the market of a number of energy companies, including Our Power, as well as the recent new market entry rules which Ofgem have proposed, seeking to raise standards around financial resilience. In particular the outline business case will assess the strategic, market, commercial, financial and economic cases.
As I indicated at the 15 January meeting of the Economy, Energy and Fair Work Committee we will use that information, informed by our engagement with local authorities, to identify next steps.