A Guide To Energy Suppliers Going Bust
After several businesses have closed in the past few weeks, this guide looks at what happens if your business goes down and what to do next. Your provider is going bankrupt, now what? Do not panic The supply of electricity to the former supplier's customers will continue as part of Ofgem's "safety net" and the free balances of the domestic customers will be protected. The customers of the outgoing supplier are transferred to a new supplier chosen by Ofgem. Choosing a new provider usually takes a few days. What if your provider goes bankrupt? Make sure you do not change electricity supplier before the replacement supplier contacts you. Take a meter while reading when your new provider contacts you. This makes it as easy as possible to transfer customers to the new provider and refund the current credit. How do I know who the new provider is? Ofgem will announce the new provider on its website and on social media a few days after the old provider a