Don’t worry, you’ll still have gas and electricity even if your supplier goes out of business. The gas and electricity regulator, Ofgem, will move you to a new supplier but this usually takes a few weeks.
Your new supplier should contact you and explain what will happen with your account.
If your account is in credit your money is protected, and your new supplier will tell you what will happen to your credit.
If you’re a small business customer, Ofgem will try to choose a supplier that can refund some or all your credit, but this is not guaranteed. Your new supplier will tell you how you’ll be paid back.
There are a few things you should do while you wait to hear from your new supplier.
- If you have an online account, it’s a good idea to log in, check your balance and download any bills.
- Take meter readings – it’s useful to take a photo of your meter readings too.
- Keep any old bills you have – these can help prove your payment history, credit balance or debt.
- Make a note of your account balance – you’ll find this on your most recent statement.
- If you pay by direct debit, don’t cancel it straight away. Wait until your new account is set up.
Your new supplier will write to tell you when your new account has been set up. This should happen within a few weeks. If this doesn’t happen you can check out your new supplier using this link bit.ly/2XGke9H
If your new tariff is more expensive
Contact your new supplier to make sure you’re on the best tariff for you.
You can switch
If you’re not happy with your new supplier or tariff. Then you may want to switch, you can do this without paying an exit fee.
Don’t switch tariff until your account is moved to the new supplier. You might find it harder to get any money you’re owed if you switch before this happens.
If you need support on discussing your energy options, then contact Citizens Advice Calderdale on 0808 278 7879 and ask to speak to our energy adviser.
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