Another crash in the energy market. Ray Energy ends up, believing in vain to calm the market

Another energy supplier is ending. After Bohemia Energy and the smaller companies Kolibřík Energie and A-Plus, Ray Energy announced its termination this time. It has about three thousand consumption points. The reason, as with other bankrupt suppliers, is the high prices of electricity and gas on the stock exchange.

“We have decided to close down. We are unable to meet our obligations, the prices on the energy market are too high. Further operation of the company is no longer possible,” said Ray Energy co-owner Petr Soustružník.

In a letter to clients, the owners of the company write that they believed that they would be able to overcome the current situation on the energy market. “We expected that as soon as gas from Russia began to flow into Europe, the entire energy market would gradually stabilize. Our expectations did not materialize.”

According to data from the Electricity Market Operator (OTE), Ray Energy supplied electricity to 2,498 customers and gas to 478 customers, making it one of the smaller suppliers. The market operator received a notice of termination of deliveries from the company today at 3.40 pm.

At the same time, the company offers its clients the opportunity to switch to two specific energy suppliers. “We offer this to our clients so that they do not have to stand in long queues with suppliers of last resort.

They should send the offer to the clients as soon as possible and then immediately arrange for the transfer of the collection point. However, as the Turner adds, it is only an offer, if the clients do not like the terms of the contract with the replacement supplier, the energy will be provided by the supplier of last resort.

The Energy Regulatory Office (ERO) has issued a statement in the past explaining how electricity supplies to customers work after the failure of their energy supplier.

“If your energy supplier effectively ceases to operate due to an inability to finance its customers, the supplier of last resort takes his place. He is obliged to inform you immediately of the start of electricity and gas supplies, prices and supply conditions,” the office said.

Ray Energy is thus the fourth energy supplier to go bankrupt on the Czech market. The market experienced the biggest shock on 13 October with the closure of the Bohemia Energy Group, which was the largest group of alternative energy suppliers in the Czech Republic. She cited the extreme rise in energy prices in the markets as a reason. According to the Electricity Market Operator, the group supplied electricity and gas to approximately 900,000 clients at the end of August. Prior to that, Kolibřík Energie and A-Plus ceased operations.

According to the ERO, there are currently about 60 companies operating on the energy market, which have at least a thousand consumption points. And according to experts, it is possible that other companies will stop deliveries if they have chosen a risky business strategy.

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