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Departmental Contingent Liability Notification: Energy Supply Company Special Administration Regime
06 January 2022
Type
Written Ministerial Statement
Department
Department for Business, Energy and Industrial Strategy
At a Glance
Issue Summary
Greg Hands is laying before Parliament a Departmental Minute describing a contingent liability arising from a letter of credit issued for Bulb Energy Limited under the Special Administration Regime.
Action Requested
The Minister regrets the delay due to recess and has laid before Parliament a minute giving particulars of the contingent liability created, explaining that it is normal practice when a Government Department undertakes such liabilities. HM Treasury has approved the arrangements in principle.
Key Facts
- The contingent liability arises from a letter of credit issued for Bulb Energy Limited.
- Bulb entered the Special Administration Regime on 24 November 2021.
- The legal basis is section 165 Energy Act 2004, as applied and modified by section 96 Energy Act 2011.
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