The Fflam Festival, originally set to take place in Swansea last month, will not now happen at all this summer.
"At this stage, we are left with no option but to cancel the festival for 2007 and put all our efforts into making it a huge success in 2008," explain organizers.
The event was called off in July due to the bad weather, but it was hoped it could be staged at a later date.
"After the initial postponement due to torrential weather conditions, we have made every possible effort to try and secure a new date for the festival this summer. Unfortunately, we cannot find a date that suits all parties and due to artist availability, we are not in a position to deliver the brilliant line-up of bands we always intended if we go ahead."
Fflam was due to host the likes of Manic Street Preachers, Placebo, Feeder and Enter Shikari.