Welsh energy consultancy Amber Energy has entered administration, reportedly leaving around 170 employees looking for work.
The company entered administration last week, despite having healthy financial reports – its last disclosed results from the end of 2024 showed turnover of £11 million.
Amber Energy was founded in Cardiff in 2009 by CEO Nick Proctor. The company has not issued any official statement explaining the issues.
The company offers energy management, procurement and PPA services to a wide range of clients in the consumer, automotive and residential sectors. According to its website, Amber has 8TWh of generation capacity under its management and manages 48,000 residential and commercial meters.
Reacting to the news of Amber’s trouble, John Haw, CEO and founder of Fidelity Energy, said that the company’s administration could speak to a bigger problem with energy trading oversight.
He said that many of Amber’s clients used flex energy trading, buying power in small, frequent chunks rather than committing to a long-term fixed rate. This approach requires persistent checking and oversight to deliver on potential value from accessing wholesale market prices rather than fixed tariffs.
“When a consultancy operating flex portfolios enters administration, the risk is not theoretical,” Haw said. “Flex procurement depends on active execution. If trading oversight is disrupted, unhedged volumes can become exposed to day-ahead or reference pricing immediately.”
In the absence of clarification or comment, and its apparently healthy financial state, Amber’s entry into administration could spark some concern in the industry.
In the days before the company entered administration, Companies House registered a new company, Block One Group Ltd., started by a Nicholas Stephen Proctor, seemingly the same Nick Proctor who founded and runs Amber Energy. It is unclear what relationship, if any, there is between the new firm and Amber Energy.
Solar Power Portal has contacted Amber Energy for comment on this story.
