Ripple Energy files to appoint administrator as it faces potential collapse

The move comes as the company faces financial difficulties and is on the verge of going bust.

Rather than being a traditional energy supplier, Ripple Energy allows customers to co-own wind turbines or solar farms by purchasing shares. In return, they receive discounted energy from major suppliers like British Gas. The company's business model aims to reduce energy bills and carbon footprints for its customers.

Ripple Energy’s filing marks the first step toward administration, typically taking place around 10 days before a company either goes into administration or is rescued by a buyer. The firm powers energy suppliers including Octopus Energy, E.on Next, and Good Energy.

Octopus Energy founder Greg Jackson expressed his concern, saying on X: "It’s sad to see the situation there. A lot of customers have been in contact with us and as ever we’d love to be helpful if possible and viable. But I can’t say much more than that at present. It really is (rightly) all down to the administrators and co-ops at this stage."

Ripple Energy is working with Begbies Traynor, a corporate restructuring firm, to manage the process. A spokesperson for the company told Metro that Ripple will continue to operate while the administrators seek a suitable buyer for the business. They assured customers that there would be no disruption to service during the sale process.

Founded in 2017 by Sarah Merrick, Ripple Energy has 35 employees. In an interview last October, Merrick spoke about her vision, stating: "A clean energy revolution is underway in Britain, and it’s our mission to make sure real people are at the heart of it."

Ripple Energy’s website assures customers that their investments in wind farms or solar parks are fully insured against damage and malfunction, and that the cost of purchasing shares is a one-off payment for construction, with no additional money required.

A Reddit user with stakes in the Kirk Hill Coop, a wind farm in Ayrshire, Scotland, shared an email from the group confirming Ripple’s administration. The email reassured investors, saying: “This situation itself is challenging, but it does not directly impact on the viability of Kirk Hill Wind Farm Ltd, the coop or the associated assets. Be assured, your investment is secure.”