Igloo Energy collapse: directors appointed
DIRECTORS have been appointed to manage the affairs of Southampton-based Igloo Energy Supply, which collapsed last month
The company – which supplied gas and electricity to around 179,000 homes – said the energy market was “no longer viable” when it announced in late September that it had ceased operations.
Documents filed with the High Court indicated that Robert Croxen and Jonathan Marston of Alvarezx and Marsal were appointed as directors.
Igloo Energy Supply, based at Mountbatten House, Grosvenor Square, employed 68 people last year.
Ofgem said its safety net will ensure the continued supply of all Igloo customers and the protection of credit balances.
The founders of Igloo have said that its heat pump company, Igloo Works, will continue to operate.
Igloo was founded in the city in 2017 and rose to the top of customer service rankings.
But co-founders Matt Clemow and Henry Brown said the company’s core business, retail energy, “operates in a market that is unfortunately no longer viable for Igloo.”
They said as they were shutting down: âThe energy price cap that was introduced by the government has been an important tool in ensuring that consumers are not unfairly penalized by standard variable rate tariffs. As we continue to support the price cap mechanism, the basis on which it is calculated by Ofgem is designed to favor the larger suppliers and any call for it to be reviewed by challenger brands, like Igloo, continues to face a challenge. resistance. ”