Energy regulator reviews complaints against ESB-backed Endeco Technologies
The energy regulator is reviewing a number of complaints made against ESB-backed Endeco Technologies.
Endeco's products allow large users of electricity to make money by adjusting their power consumption at certain times to help keep equilibrium on the grid.
It's one of a number of players operating in a highly competitive sector.
The complaints are understood to relate to a recent incident where Endeco told potential customers they had a very short window of time to sign up for an Endeco product if they wanted to secure so-called DS3 payments in the period from May 2018 to September 2019.
This, Endeco said, was on foot of a process being undertaken by Eirgrid.
Eirgrid then put out a statement saying that there was no evidence of signed contracts required at that particular stage of the process.
A spokesman for the energy regulator - formerly known as the Commission for Energy Regulation recently renamed the Commission for Regulation of Utilities - said it had "been made aware of certain issues regarding communications sent by Endeco to prospective customers and is currently in the process of reviewing this".
Separately, the Sunday Independent understands that Eirgrid asked Endeco to stop referring to itself as an approved partner of Eirgrid in its promotional materials two years ago.
Endeco said: "We believe any complaints that have been made ... are unfortunately misplaced and have arisen simply due to an alternative interpretation of the grid operator's requirement.
"Endeco Technologies prides itself as a company on being open, transparent and operating with the highest degree of integrity, while serving to clarify what can sometimes be a confusing marketplace for our customers and prospects.
"On a separate issue, we received a request two years ago from Eirgrid asking if we could amend some of our marketing materials. Within two days, this request was promptly carried out with all marketing updated. Eirgrid later issued a helpful and comprehensive set of brand guidelines to all DSU [demand side unit] providers".
ESB put €3.3m into Endeco last year. Other investors in the company include ACT Venture Capital and Enterprise Ireland.
Sunday Indo Business