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ACM revokes license of energy supplier All in Power

The Netherlands Authority for Consumers and Markets (ACM) has revoked the license of energy supplier All in Power because it is no longer capable of supplying energy in a secure manner. All in Power is a small energy supplier, offering dynamic energy contracts to approximately 500 households and other small-scale users. All customers will continue to get energy, and will automatically be contacted by their new energy supplier.

All in Power had already been placed under heightened oversight by ACM, because ACM had concerns about the company’s financial situation. Despite ACM’s action, All in Power did not manage to put its finances and administration in order. It no longer has any active executives either. As All in Power no longer meets the requirements with which all energy suppliers must comply, ACM decided to revoke its license. This means that All in Power can no longer supply electricity to households and other small-scale users.

All in Power will have several days to find another energy supplier that is prepared to take over its customers. If that search fails, all customers will be distributed over all other energy suppliers by November 5, 2024, at the latest. During this transitional period, which will last until November 5, 2024, at the latest, customers cannot switch suppliers themselves.

Customers will automatically be contacted by their new supplier regarding their energy contracts. This new supplier may decide to give customers contracts with dynamic rates again. However, it may also decide to give customers contracts with variable rates. Customers can choose whether they wish to stay with their new supplier or if they wish to switch suppliers anyway. If they wish to do so, their new supplier can enforce a notice period of up to 30 days.

Revoking the license will thus not have any consequences for the supply of electricity, but it may have financial consequences, for example for customers that All in Power still owes money. These customers may contact All in Power about such outstanding financial issues.

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