UK : Energy Co. Director slapped with a 6-year Ban in breach of Regulations

The Insolvency Service | Mordechay Maurice Ben-Moshe : Photo Credit - en.globes.co.il

By Vineet Malik | November 17, 2023 | London, England

An investigation conducted by the Financial wrongdoings regulator - The Insolvency Service and the Energy Regulator - Office of Gas and Electricity Markets (Ofgem) concluded its findings and imposed a 6-year ban on the Director, Mordechay Maurice Ben-Moshe of Birmingham based Extra Energy Supply Ltd (EESL) for violating the industry rules and regulations

The Insolvency Service informed The Revelation about the ban order today.

The energy Co. promoter failed to maintain transparency towards customers billing information, raised inflated energy bills without any justification and did not give any heed to multiple complaints.

EESL failed to pay £28,438,495 fee towards renewables obligations to Ofgem in line with the statutory deadlines. The Co. also owed £118,087,000 to connected Cos. and £29,550,000 to trade and other creditors.

Chief Investigator The Insolvency Service Ltd., Elizabeth Pigney says “Ben-Moshe’s disregard for energy market rules and regulations caused distress to customers who were left with bills they couldn’t afford to pay. This is not acceptable behavior for any Co. Director and as a result he cannot be involved in the promotion, formation or management of a Co. in the United Kingdom (UK).”

The energy Co. promoter failed to comply with Gas Act 1986, Electricity Act 1989, Standard Licence Conditions and Gas and Electricity (Consumer Complaints Handling Standards) Regulations 2008.

Regulatory Director Ofgem, Cathryn Scott says “Protecting customers is our top priority and when concerns were raised about Extra Energy Supply’s treatment of customers, Ofgem investigated with huge bills and found strong evidence that people were being surprised with huge energy bills and their complaints were not being handled to an acceptable standard."

Ofgem has supported the Insolvency Service to bar the Director of EESL from the industry.