Howard Smith and Rick Harrison from Interpath Advisory were appointed joint administrators to UK Energy Incubator Hub Limited on 13 July 2022.
Formerly trading as Euston Energy, UK Energy Incubator Hub is a a domestic energy supplier, serving approximately 3,500 customers, and operating under two brands, Northumbria Energy and Neo Energy.
Last week, the Company was issued with a Final Order by Ofgem in relation to the regulator’s ongoing fit and proper requirement.
The Company subsequently ceased to trade on 9 July 2022, and Ofgem appointed Octopus Energy as the new supplier for all of its customers under its Supplier of Last Resort (SOLR) process.
Howard Smith, joint administrator and managing director at Interpath Advisory, said: “Our priority over the coming days is to work closely with Octopus to ensure a smooth transition for all customers.”