Ofgem protects customers of CNG Energy Limited
In the case of CNG Energy Limited ceasing to trade, Ofgem took several measures to protect the customers and ensure a smooth transition. Ofgem, the UK’s energy regulator, implemented these actions to safeguard the interests of business customers who relied on CNG Energy for their energy supply.
To begin with, Ofgem closely monitored the situation, working to understand the financials and implications of CNG Energy’s closure. They provided an overview of the situation and communicated with the affected customers to offer support and guidance throughout the process.
One of the key steps taken by Ofgem was to facilitate the transfer of customers to new suppliers. Ofgem ensured that the energy supply was not disrupted and arranged for customers to be contacted by their new supplier. This ensured that businesses continued to have access to gas supply without any interruption.
Ofgem also provided assistance to affected customers by addressing their queries and concerns related to the change in supplier, energy prices, meter readings, and billing. They offered customer service and guidance to help businesses navigate through the transition smoothly.
Moreover, Ofgem imposed certain requirements on CNG Energy to fulfill its obligations during the wind-down process. This included activities such as issuing final statements, handling change of tenancy requests, and facilitating the transfer of gas supply contracts to new suppliers.
Through these actions, Ofgem aimed to minimize the impact on business customers and ensure their energy needs were met. Their expertise and intervention helped to protect the interests of the customers and maintain the stability of the energy market.
Have CNG Energy ceased trading?
CNG Energy Limited has ceased trading. The company, which provided energy supply solutions to business customers in the UK, made the decision to stop its operations. The cessation of trade by CNG Energy has had an impact on its customers and the energy market as a whole.
The exact reasons behind CNG Energy’s decision to cease trading have not been specified in the provided information. However, it is known that the company faced challenges in its financials and business operations that led to this outcome.
For affected customers of CNG Energy, this development meant a need to find a new energy supplier. Ofgem, the UK’s energy regulator, stepped in to oversee the situation and ensure a smooth transition for customers. Ofgem provided an overview of the situation and estimated the impact on customers, offering guidance and support throughout the process.
Customers were contacted by their new energy supplier to facilitate the transfer of their supply contracts. This ensured that businesses continued to receive a reliable energy supply without disruption. The new supplier took over the responsibility for meter readings, billing, and customer service.
For businesses that were previously supplied by CNG Energy, the transition to a new supplier involved assessing different tariff options and agreeing on a new contract. It was crucial for customers to consider their energy needs, pricing, and service requirements in order to make an informed decision.
The cessation of trade by CNG Energy highlights the importance of monitoring and managing energy contracts and suppliers. It is essential for businesses to regularly review their energy supply arrangements and be proactive in seeking the best deals and services that suit their needs.
CNG stands for Contract Natural Gas Limited. It was established in 1994 after the deregulation of the UK gas industry. It’s founder, Colin Nigel Gaines, established it with the idea of trying to simplify access to energy. Over the last 20 years, CNG has grown enormously and is now the biggest independent shipper of gas in the UK. It supplies gas to business customers. CNG is a fast-growing company that has won multiple awards for outstanding customer service. They are considered to be one of the most trusted gas suppliers. In addition to supplying gas, they offer meter installation and meter replacement. CNG is based in Harrogate, Yorkshire.
The table below contains a list of CNG Group subsidiaries with their company numbers. All of the subsidiaries are registered in England and Wales.
|Contract Natural Gas Software Limited||03386645|
|Contract Natural Gas Limited||02897253|
|CNG Merchant Services Limited||12464705|
|CNG Electricity Limited||09263237|
|CNG Energy Limited||03869419|
|CNG Switch Limited||10747661|
Products and services in the UK
CNG’s services include:
- Commercial gas supply
- Wholesale gas shipping
- Infrastructure projects
- Installation of gas and electricity
- Flexible billing
- Automated meter reading (AMR)
- Gas service
- Meter installation, replacement and relocation
- End-to end projects
- Account management
- Customised energy solutions
- Service upgrades
CNG offers a customer service-focused approach. In fact, it was the first business gas supplier to win the ‘Putting the Customer First’ scheme. It gives clients a chance to enjoy a range of innovative offers tailored for smaller businesses. Those who choose CNG can expect:
- The help of designated account managers for business gas consumers
- Customised bills and payment terms
- Call centres that are based in the UK
- Perfect customers service
CNG provides customers with gas service and assists them with installing meters and arranging their gas supplies when relocating to new premises. meter installation, replacement, and relocation. CNG also offers flexible billing and automated meter reading services (AMR). Their products do not feature a standing charge which makes their prices highly competitive.
CNG has over 25 years of expertise and it supplies gas to over 45000 customers in the UK. Their clients include small start-ups that only just joined the market, as well as big corporate companies. CNG’s services match the needs of all clients, no matter the size of their business.
CNG believes that the market should not be dominated by the ‘Big Six’. That’s why it supports smaller suppliers and encourages competition in the energy market. Their services are designed for national brands, as well as local communities. Anyone who wants to reduce their collective energy costs can use their services.
Financial support during COVID-19 pandemic
CNG is committed to helping its customers during these unstable times. It partnered with Think Business Finance to offer support with applications for Coronavirus Business Interruption Scheme (CBILS).
How do CNG’s shipping services work?
You need to get the license to supply from Ofgem and contact the Meter Reading Agency and Meter Asset Managers. CNG will connect with all relevant networks and handle the whole process. CNG will work with you to forecast your gas usage and assist you with long-term gas purchasing.
Is CNG green?
CNG wants to make natural gas an important part of the UK’s environmentally-friendly future. To achieve that it wants to introduce a carbon offsetting scheme that customers can join but are not obliged to do it.
Moreover, CNG uses Automated Meter Reading technology and wants all its customers to have such meters. They give customers the possibility to monitor and manage their gas usage. Thanks to these devices customers do not have to submit meter readings themselves and get accurate bills. Smart meters also allow to save costs and reduce carbon emissions.
CNG also aims to reduce the carbon impact by introducing green solutions at the head office. That includes using less paper for printing, electronic billing, low-energy lighting.
CNG has a team of around 200 people. On a daily basis the team strives to deliver effective solutions and technical expertise. Below you can find the overview of who runs the company.
Paul Stanley – CEO
He became Chief Executive of CNG in January 2020. For the last 30 years, he has been working with equity companies, helping them run global technology businesses. He also has experience advising charities and governments. He also contributed to founding PEPTalks, a network for CEOs, and conducts research into leadership and innovation at York Business School.
Jacqui Hall – President
She worked with Colin Gaines even before he established CNG. She believes CNG is a unique supplier in the gas industry because it’s customer-focused. She says that CNG continues to grow and deliver great quality services.
Amman Boughan – Chief Financial Officer
He joined CNG in June 2019 and initially worked as Commercial Director. Recently he took on the role of Chief Financial Officer. Before he started working for CNG he assisted corporate and private equity companies in the UK with mergers and acquisitions.
Colin Hollins – Operations Director
He believes that CNG is highly successful because people that work for it work very hard and support each other. He says that CNG’s primary concern is the wellbeing of its customers.
Chris England – Procurement Director
He has been working for CNG for the last 19 years. He says that CNG aims to offer good service for fair prices. He believes helping others is the most important thing.
Pam Gibson – Head of HR
She is the sister of the founder of CNG. She says that all people working for CNG are amazing individuals who make the company special. CNG has family values at heart and that makes it such a customer-friendly supplier.
Phil Birch – Head of Infrastructure and Change
He joined CNG to help create IT systems that would enable CNG to enter the electricity market. He has experience working in a range of industries including manufacturing, electronic engineering, and financial services.
Key financial data
CNG Group’s revenue for the financial year 2019/2020 that ended on the 31 October 2020 was £588M. The revenue for the year 2018/2019 was £845M. That means that the revenue last year was 30% lower than in the same period last year.
Gross Margin for that year was £15M, which was 1 million less than in 2019. That was most likely caused by the fact that the COVID-19 pandemic had a negative impact on gas demand.
EBITDA (earnings before interest, taxes, depreciation and amortization) was £3M. In 2019 it was -£31M. That indicated that the CNG Group managed to improve its performance despite difficult times. CNG Wholesale division, providing shipping services and wholesale gas to a number of domestic and non-domestic energy suppliers in the UK, saw a significant improvement in underlying profitability, To maintain sustainable profit, the Group implemented a number of risk management programmes.
fax: 01423 502 556
post: Contract Natural Gas Ltd, CNG House, 5 Victoria Avenue, Harrogate, North Yorkshire, HG1 1EQ
CNG’s website also features a live chat option that allows clients to talk directly to CNG’s representatives.
When it was established, CNG filled the gap in the gas industry for a supplier that prioritises customer service. Its services are unique and offer outstanding quality. CNG is proud to call itself a company that really cares. Even though it is a relatively small business, over the last 25 years, it has grown significantly and is constantly expanding. Customers choose CNG because of their expertise and low prices. CNG is one of the most trusted suppliers of gas for small businesses and it has amazing customer reviews. It not only supplies gas but also helps customers connect to their energy supply without going through complicated, lengthy procedures. CNG believes that great service starts with people and it wants to empower its clients and give them control over their energy supply.