Byron Bay-based green energy company Enova has become the first serious casualty of Australia's energy crisis.
As of Monday it as been placed into voluntary administration and its 13,000 customers advised to switch to other energy providers.
Staff have been made redundant and Cathro & Partners have been appointed to manage the voluntary administration process.
Felicity Stening, Mangaing Director of Enova, said the decision would come as a "huge shock" to the company's customers.
"Our board, team and myself are incredibly disappointed in this outcome," she said.
"I can assure you it represents the very last resort after all other options were exhausted."
The energy crisis impacting Australia's east coast had made it 'unbearable' for Enova to keep operating.
"There are events happening in the energy market which have never been seen before, and the sustained and significant increase in the price of wholesale energy is expected to continue for some time," Ms Stening said.
"There have been extreme and unexpected costs flowing from the unprecedented energy market conditions which has had an impact on Enova beyond what we are able to manage."
Enova had worked tirelessly during this period to explore all options to secure the continuation of the business, with voluntary administration being the last resort to prevent the organisation from trading while insolvent.
The company urged its 13,000 customers to transfer under the Australian Energy Regulator's 'retailer of last resort'. If customers wanted to consider other options, theyr could go to the Government's Energy Made Easy website https://www.energymadeeasy.gov.au/ and also refer to the Green Electricity Guide.
I'm a media professional with over 34 years of experience in public relations and journalism, including a decade setting Lismore's news agenda as the editor of The Northern Star. I have proven track record in growing audiences and improving engagement by delivering quality local stories for and about the Lismore community.
I'm a media professional with over 34 years of experience in public relations and journalism, including a decade setting Lismore's news agenda as the editor of The Northern Star. I have proven track record in growing audiences and improving engagement by delivering quality local stories for and about the Lismore community.
