Avro Energy went bust on the 22nd September 2021 affecting 580,000 customers. Get a full list of suppliers that have gone bust here.
Avro Energy began taking on customers from 1 December 2015. Their claim is that they provide "low priced energy in addition to simplicity with your supplier" which they aim to deliver by "maintaining a highly efficient business that keeps overheads to a minimum and is restrictive in the level of marketing commissioned".
While their prices are certainly competitive, Avro Energy, like many of the growing number of new energy suppliers that have entered the market recently, is very much an unproven entity. We are great believers in competition and also hugely admire the entrepreneurial spirit (we have built two start-ups ourselves). However, there are several things about Avro Energy that make us cautious.
Firstly, they are somewhat enthusiastic in taking money from the customer's account. Your first direct debit is taken from your account at the end of the cooling off period. This is 14 days from application date. Physical supply however may not start until up to 21 days after payment is taken. This means that most customers pay up front before they are even on supply. This means that you, the customer, are effectively funding the working capital to run the business.
Secondly, the company has minimal financial backing. It has equity capital of just £100. To year-end 14 August 2015, the company reported negative net assets of (£12,842). It is not unusual for a start up to incur losses; most do in setting up the business. However, with equity capital insufficient to cover these losses means that, should Avro Energy get into financial difficulties, then customers who have paid in advance, as unsecured creditors, risk losing those payments.
Avro Energy is a very new gas and electricity supplier that entered the domestic energy supply market in December 2015.
The Company operates from offices in Nuneaton, Warwickshire.
Avro Energy offers a simple range of tariffs for customers who want to pay by Monthly Direct Debit and to manage their account online.
Avro Energy offers electricity only and dual fuel tariffs. There is currently no gas only option.
Avro Energy does not at present supply prepayment meter customers.
Avro Energy is signed up to the Warm Home Discount Scheme.
|AVRO ENERGY LIMITED
|Registered Office Address
|Unit 8, The Courtyard Goldsmith Way,
Eliot Business Park,
Warwickshire, CV10 7RJ
|Date of incorporation
|14 August 2014
|Jake Andrew Brown
|Supply licence(s) granted
|27 July 2015
|Began selling energy to domestic consumers
|1 December 2015
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