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What should you do if your energy company folds? If your supplier looks like they’re in trouble, don’t panic. Follow these tips from Ofgem to make sure there is no interruption to your energy supply.
Following news energy suppliers Igloo, Symbio and Enstroga have ceased training, a total of nine energy suppliers have now gone bust in the UK since the start of September.
But if you’re one of the customers affected, what should you do if your energy company stops trading?
Ofgem, the Office of Gas and Energy Members, have a guide available to explain what to do if your supplier goes bust.
Here’s what you should do if your energy supplier stops trading.
1 – Take a meter reading
Before you do anything else, take a meter reading and keep it somewhere safe.
If you are able to, take a photograph of the meter so you’re able to refer back to it if you need to.
2 – Cancel your direct debit
If you want to, cancel your direct debit to the previous supplier for peace of mind.
3 – Don’t switch suppliers yet
After your energy supplier goes under, Ofgem will begin the process of switching your supply to a new supplier.
Within a few days, Ofgem will have switched your supply to a new supplier.
Because of Ofgem’s safety net, your supply and credit balance will be protected.
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4 – Talk to your new supplier about tariffs
Once you’ve been assigned a new supplier, they will contact you.
Once they get in touch, you can ask to be put on their cheapest tariff, or shop around for better deals.
If you switch at this point, you won’t be charged any exit fees.
Since September, these are the following firms which have gone under, and the suppliers who their customers have been switched to.
Moneyplus energy ceased trading on 7 September, customers were switched to British Gas.
PFP energy ceased trading on 7 September, customers were switched to British Gas.
Utility point ceased trading on 14 September, customers were switched to EDF.
People’s energy ceased trading on 14 September, customers were switched to British Gas.
Green supplier limited ceased trading on 22 September, customers were switched to Shell.
Avro Energy ceased trading on 22 September, customers were switched to Octopus energy.
Symbio, Igloo and Enstroga all ceased trading today, and it has not yet been confirmed who their customers will be switched to.
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