Enova Bulk-Buy

Enova Community Energy was Australia’s first community-owned electricity retailer. It was a social enterprise, built from the ground up by the people, for the people.  

Unfortunately in June 2022 it went into receivership. This is a shocking loss to the community and transition to net zero emmissions.  Fortunately Enova’s not-for-profit arm, Enova Community, will remain in operation and continue to support community organisations via energy efficiency, education, and community projects.  Proceeds from sales in the Enova bulk-buy are going towards this awesome work.  All cars that have been contracted in the bulk-buy are being delivered and are un-affected by Enova energies closing.

Why has Enova closed (in the Enova teams words)

Many of you will have seen the media on the energy crisis currently affecting the east coast of Australia. Its impact on Enova’s ability to continue operating is unbearable. 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.

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. Further, due to the prevailing market conditions, Enova has not been able to secure fixed pricing from 1 July 2022 meaning the business becomes fully exposed to the severely inflated wholesale energy prices on that date.

Together with the requirements of the Australian Energy Market Operator for Enova to provide security for future electricity purchases and the regulated cap on customer pricing, it has become unviable for Enova to continue.

The Enova Board and Leadership Team have 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.