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ACM revokes supply license of energy company Welkom Energie

The Netherlands Authority for Consumers and Markets (ACM) revokes the license of energy company Welkom Energie for the supply of electricity and natural gas to consumers and other small-scale users. ACM will do so because Welkom Energie has run into financial problems, in part because of the high energy prices, and because it has informed ACM that it is no longer able to meet its license conditions. All of Welkom Energie’s customers will be transferred to energy company Eneco. Consumers need not to worry that they will no longer be supplied any electricity or natural gas.

The revocation of the supply license means that, from November 1, 2021, Welkom Energie is no longer permitted to supply natural gas and electricity to its approximately 90,000 customers, and that all of its existing contracts and conditions will be terminated. Welkom Energie’s customers will be informed this week by Eneco about their new energy contracts. This new contract will begin on November 1, 2021. Customers will then enter a transitional period (until 1 December 2021) in which they cannot cancel or terminate their new contracts at Eneco. After that transitional period has expired, customers are free to remain customers with Eneco or to switch energy companies.

The revocation of the license will thus not have any consequences for the supply of natural gas and electricity to customers of Welkom Energie, but it can have financial consequences. After all, customers will be given a new contract by Eneco, based on today’s energy prices, which are likely to be higher than their current rates. The fact that Welkom Energie is in financial trouble may also have consequences for customers that Welkom Energie still owes money. For example, if customers have paid a high monthly payment in advance or if customers are still waiting for a welcome bonus or a rebate, they may not receive this money. Welkom Energie did promise though that all customers will receive their final bills, so that it will be clear to consumers whether Welkom Energie still owes them money or that they still need to pay an amount to Welkom Energie.

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