The Netherlands Authority for Consumers and Markets (ACM) has taken immediate action to revoke the energy supply licenses of HEM, now known as HollandsStroom, due to the company's inability to securely supply energy. HEM has been facing serious financial difficulties, failing to organize the purchase of natural gas for December and lacking sufficient funds to settle outstanding bills.

ACM has assured that HEM's 13,500 customers will not experience any disruption in their energy supply. Customers will automatically be transferred to a new supplier without needing to take any action. However, the revocation of HEM's licenses may have financial implications for customers who are still owed money by the company.

This is not the first time HEM has faced scrutiny from ACM. Earlier in the year, the company was fined 1.1 million euros for misleading practices in energy contract sales and for unreasonably high rates. In April 2024, HEM made binding commitments to ACM, allowing customers to switch suppliers without incurring early-termination fees or to remain with HEM at reduced rates.

Despite these commitments, ACM's investigations revealed that HEM was in critical financial trouble, making it unlikely that customers would receive their owed refunds. ACM had conducted multiple inspections and requested information from HEM to ensure compliance with its commitments, but the situation deteriorated, leading to the immediate revocation of licenses.

HEM has a limited timeframe to sell its customer database to another supplier. If successful, ACM will evaluate whether the new supplier can provide a secure energy supply. If not, customers will be distributed among other suppliers. During this transition, customers cannot switch suppliers themselves but will be informed about their new contracts automatically.

In the event of HEM's bankruptcy, customers still owed money will need to contact the appointed receiver for assistance. ACM continues to monitor the situation and will provide updates as necessary.