WHAT TO DO IF YOUR ENERGY SUPPLIER GOES BUST
You might be wondering what you should do if your energy supplier goes bust. First, don’t panic! Ofgem has a safety net to ensure that you will always have an energy supply. But if your supplier does go bust, follow these simple steps:
1. Take a meter reading as soon as you can.
2. Just sit tight and wait. Don’t try to switch supplier.
3. Wait for Ofgem to appoint you a new supplier.
4. Once your new supplier has contacted you, ask to be put on the cheapest possible tariff.
5. Your new supplier won’t be able to charge you exit fees if you want to switch, but you should be very careful switching suppliers over the coming weeks. Keep an eye on our energy crisis updates page for more information.
- When taking a meter reading it’s a good idea to take a photo on your phone. This will timestamp it. Just make sure the image is in focus and the meter reading is clear.
- If your account is in credit, don’t worry. This is protected and will carry over to your new supplier.
- While you’re waiting to hear from your new supplier. If you have an online account with your existing supplier, log in to your account and download your bills if you don’t already have them saved. They may come in handy.
- You won’t get to choose your new supplier, Ofgem will do that for you. But you’ll be free to move again after you’re set up with your new supplier.
- It’s really important you don’t try to switch supplier when you hear your current supplier has gone bust or is in financial trouble. A switch at this time won’t be processed and it may prevent a smooth transition to your Ofgem appointed supplier.
- If you were on a fixed-term contract with your current supplier, you will most likely move onto the new suppliers Standard Variable Tariff (SVT). In this case, there is a good chance your energy bills will increase.