Gas Industry Co welcomes sale of E-Gas customers
Gas Industry Co welcomes sale of E-Gas customers to Nova Gas
Gas Industry Co was informed today that a sale has been completed between BDO, the liquidator of insolvent retailer E-Gas, and Nova Gas. Gas Industry Co understands that, under the terms of the sale, the contracts of E-Gas customers have been assigned to Nova Gas.
Acting Chief Executive of Gas Industry Co, Ian Wilson, said, “I am delighted to hear that a sale has been concluded. It will bring continuity of supply to E-Gas customers and certainty to the gas industry. It will also avoid the need for Gas Industry Co to invoke the recently issued Gas Governance (Insolvent Retailers) Regulations 2010.”
Gas Industry Co understands that the terms and conditions of the E-Gas contracts will continue to apply for a period after the transfer. In many cases, the contracts provide for a 30-day notice period before the contract terms can be changed. Nova Gas may choose to move customers to its own contractual terms and conditions, once it has followed the notification process and timeline spelled out in the transferred E-Gas contracts.