Regulator revokes energy supplier HEM's permit over money problems
The Netherlands Authority for Consumers and Markets (ACM) has revoked the operating permits of energy supplier HollandsStroom, which previously traded under the name Hollandse Energie Maatschappij, or HEM. According to the regulator, the company is unable to supply energy reliably, has not properly arranged the purchase of gas for December, and does not have sufficient financial resources to pay outstanding invoices.
The ACM will ensure that all 13,500 HEM customers will continue to receive gas and electricity uninterrupted. Their new energy supplier will contact them soon. There may be financial consequences, for example, due to changes in tariffs or for customers who still had credit at HEM. HEM told news wire ANP that it Clean Energy had agreed to take over its customer base.
Earlier this year, the ACM fined HEM 1.1 million euros for misleading customers when selling energy contracts. The regulator also took action against HEM’s “unreasonably high rates,” forcing the company to let customers switch to another supplier without a cancellation fee and charging those who remain lower rates. As a result of this agreement, many current and former HEM customers are owed money by the company.
“We see that the company now has many creditors and that it is unrealistic to think that customers will get their money back,” Manon Leijten of the ACM said. “That is bad news for customers who had expected this. Immediate withdrawal of the permit is unavoidable to prevent further damage.”
The ACM will ensure that HEM customers are transferred to other energy suppliers without their electricity and gas supply being interrupted. “During this transition period, which will last until 20 December 2024, customers will not be able to switch themselves,” the ACM said. “Customers will automatically receive a message from the new supplier about their energy contract and do not need to do anything for this now.” Customers unhappy with the new suppliers will have 30 days to switch to a different one without penalties.
“Customers can contact HEM with questions. If HEM is no longer reachable by telephone, the ACM advises customers to keep an eye on the ACM ConsuWijzer website,” the regulator said.
