On 27th January 2021, it was announced that energy suppliers Green Network Energy and Simplicity Energy have ceased trading.
Ofgem state that Green Network Energy supplies gas and electricity to around 360,000 domestic customers as well as a smaller number of non-domestic customers. Simplicity Energy supplies gas and electricity to around 50,000 domestic customers.
What does this mean for consumers?
Your gas or electricity won’t be cut off if your energy supplier has gone out of business.
The gas and electricity regulator Ofgem will arrange for your account to be transferred to a new supplier. There won’t be a break in your supply when it’s transferred over, though the price you pay for your energy might go up.
Your new supplier will contact you and explain how much you will be paying for your energy. They’ll also tell you what’s going to happen to your credit balance from your old supplier if you had one – it should be refunded or transferred to your new account.
You should read your meter straight away and make a note of the readings or take a photo. You’ll need to give the readings to your new supplier – it will help make sure that your bills are accurate. Let them know if you can’t read your meter.
Your new supplier could be more expensive that your old one, so you might want to switch to a different supplier – you won’t be charged an exit fee.
If you have a prepayment meter
If you’re a prepayment customer, your new supplier should:
- tell you how you’ll get a replacement key or card
- provide a new prepayment meter if necessary – they shouldn’t charge you for this
If you’ve been paying off debt through your meter, that should carry on as usual. You should check with your new supplier to make sure, otherwise your debt might build up again.
You should also check where your nearest top-up point is – it might not be the one you’ve been using.
You’ll still be able to get emergency credit, though the amount you can get might change. Your new supplier can tell you how much emergency credit will be available.
What if you are unhappy with the new supplier that is appointed?
You can switch to a different supplier if you want a better energy deal – you won’t be charged an exit fee by your new supplier.