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What happens and what to do if your energy supplier goes bust

on Thu, 23/09/2021 - 8:33am

If your energy supplier has gone bust, don't panic - your supply is secure and any domestic credit balance you have is protected.

The gas and electricity regulator, Ofgem, will move you to a new supplier. This usually takes a few weeks.

Wait for your new supplier to contact you. They’ll explain what will happen with your account. Contact your new supplier if you don’t hear from them within 2 weeks. You can check who’s taken over your energy supply (click) if you’re not sure who your new supplier is.

  1. Take a meter reading, sit tight and don’t switch
    • Cancel your direct debit if you want to. You will continue to move to your chosen supplier if you already have a switch in progress.
  2. Wait for Ofgem to appoint a new supplier
    • You don’t need to do anything. Your supply won’t be disrupted and it should only take us a few days. Ofgem’s safety net will protect your supply and any credit balance.
  3. When the new supplier contacts you
    • Ask to be put on their cheapest tariff or shop around and switch if you want to. You won’t be charged exit fees. 
    • They’ll also explain how they will manage your account balance, including any credit refunds. 

FAQ from OFGEM:-

  • Will my supply be cut off?

No. We’ll move you to a new supplier. Your energy supply won’t be disrupted. In fact, you won’t notice any change, other than a new supplier being appointed for you. Our advice is to take a meter reading. Don’t do anything until we have appointed a new supplier and they have been in touch with you.

  • Who will choose my new supplier?

Ofgem will choose your new supplier, following a competitive process designed to get the best deal for you. 

More Information:-