As of the 21st of June 2022, the Enova Community Energy Board determined that Enova Community Energy and Enova Energy (the retail electricity business that provides you electricity) be placed into voluntary administration today. Cathro & Partners has been appointed to manage the voluntary administration process.
I know this will come as a huge shock to many of our amazing customers. Our Board, team and myself are incredibly disappointed in this outcome. I can assure you it represents the very last resort after all other options were exhausted.
What has caused this to happen?
Many of you will have seen the media on the energy crisis currently affecting the east coast of Australia. Its impact on Enova’s ability to continue operating is unbearable. There are events happening in the energy market which have never been seen before, and the sustained and significant increase in the price of wholesale energy is expected to continue for some time.
There have been extreme and unexpected costs flowing from the unprecedented energy market conditions which has had an impact on Enova beyond what we are able to manage. Further, due to the prevailing market conditions, Enova has not been able to secure fixed pricing from 1 July 2022 meaning the business becomes fully exposed to the severely inflated wholesale energy prices on that date.
Together with the requirements of the Australian Energy Market Operator for Enova to provide security for future electricity purchases and the regulated cap on customer pricing, it has become unviable for Enova to continue.
The Enova Board and Leadership Team have worked tirelessly during this period to explore all options to secure the continuation of the business, with voluntary administration being the last resort to prevent the organisation from trading while insolvent.
What does it mean for you as a customer?
Firstly, we want to ensure you that your supply will not be affected, however in the very near future, Enova will no longer be your electricity retailer.
As an essential service, there is an established process administered by the Australian Energy Regulator (AER) to transfer all customers to a ‘retailer of last resort’ in these circumstances. The retailer you will be transferred to will be determined by the AER.
At this stage, we do not know what date the transfer of your electricity supply to another retailer will occur.
Please be aware that if you do not wish to transfer to the retailer identified by the AER, You also have the right to change your provider without penalty – this has been the case while an Enova Energy customer and remains so. If you would like to consider your options, please go to the Government’s Energy Made Easy website https://www.energymadeeasy.gov.au/ and also refer to the Green Electricity Guide.
I appreciate you will have questions about your Enova Energy account and not all information is available right now. I can let you know that you will receive a final invoice from Enova for electricity supply and usage up to the date of transfer.
The AER and Cathro & Partners will make more information available to you in due course.
Continue to support an ethical energy retailer by transferring your power to Energy Locals
We encourage our Enova Energy customers to transfer to Energy Locals. We have worked hard to ensure your power is in safe hands and that our legacy remains strong.
Energy Locals will be working over the coming months to assess the feasibility of reviving the Enova Community Energy brand.
Transfer your energy in minutes - https://energylocals.com.au/residential-enova/
How can you support Enova?
There are liabilities that Enova needs to settle as part of the administration process including shareholders, lenders and supplier partners that have been fundamental to Enova’s journey. To assist with this, we ask that you please pay any current and final bills as they become due using the details on your bill.
An incredibly difficult part of this process is having our entire team made redundant. The great majority of our team is based here in the Northern Rivers region and, unexpectedly and through no fault of their own, find themselves now looking for the next step in their working life. We have been lucky to have a highly capable, committed, and friendly team so if you have fantastic work opportunities available, please get in touch.
Enova’s legacy
While this is a devastating end to operations, I am proud of Enova’s achievements in its six and a half years.
Based in Byron Bay, Enova Community Energy was Australia’s first community-owned electricity retailer. It was established as a social enterprise, built from the ground up - by the people, for the people - with a vision to enable community-owned distributed renewable electricity generation and supply and to keep money circulating locally. Enova came to life through the support of more than 1,600 like-minded Australian community shareholders and has been carried forward over the years by a passionate and hard-working team united and inspired by the vision for Enova.
Enova is the number one green retailer in the country in 2022, after being named first and ranked 5 stars in the Green Electricity Guide by Greenpeace, ranked second by CHOICE for customer service and environmental sustainability, winning Canstar’s Green Excellence Award and two weeks ago being named by Finder as Retailer of the Year.
Enova is honoured to have delivered the North Coast Community Housing Solar Garden in partnership with North Coast Community Housing, COREM and Splendour in the Grass; to have led the Byron Bay Arts & Industry Estate Microgrid pilot project in collaboration with Essential Energy, LO3 Energy, Wattwatchers and the University of NSW; and more recently to have collaborated with the Good Car Co on a community bulk-buy resulting in the purchase of around 40 electric vehicles by Northern NSW residents. Our community partnerships over the years have been a highlight.
Last, but by no means least, through the generosity of customers and supporters, Enova has been able to donate over $180,000 to community organisations. Enova’s not-for-profit arm, Enova Community, will remain in operation and continue to support community organisations via energy efficiency, education, and community projects.
I appreciate this news will bring great disappointment to many of you. To our customers, shareholders, and lenders, I would like to personally thank you for having the belief in Enova’s vision and supporting us over the last six years. I hope that you will continue to champion the need for a rapid transition to a much-needed distributed renewable electricity model in Australia.
I wish you all the very best and thank you so much for supporting Enova over the years.
With a sad and heavy heart, I say goodbye for now.
Kind regards,
Felicity
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