PayPoint Plc
Announcement
On 23 November 2021, PayPoint confirmed that Ofgem, the energy regulator, had accepted its voluntary commitments to address the concerns raised in Ofgem’s Statement of Objections received on 29 September 2020.
PayPoint has recently received ‘letter before action’ correspondence from a small number of market participants relating to the issues addressed by these commitments, which were accepted by Ofgem as a resolution of its concerns. PayPoint has reviewed this correspondence and intends to respond robustly whilst continuing to take appropriate legal advice.
Since November 2021, in a timetable agreed with Ofgem, PayPoint has made contact with its energy sector clients to waive the rights of exclusivity in its agreements, consistent with these voluntary commitments. In that time, PayPoint has also successfully re-tendered on a non-exclusive basis with a number of its clients in the energy sector.
ABOUT PAYPOINT GROUP
For tens of thousands of businesses and millions of consumers, we deliver innovative technology and services that make life a little easier.
The PayPoint Group serves a diverse range of organisations, from SME and convenience retailer partners, to local authorities, government, multinational service providers and e-commerce brands. Our products are split across four core business divisions:
Together, these solutions enable the PayPoint Group to create long-term value for all stakeholders, including customers,communities and the world we live in.
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