What Happens If My Energy Supplier Goes Bust?

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Extra Energy went bust in late November 2018, with a series of other energy companies doing the same in previous months. This is a worrying time for anyone who is in a contract with these companies. What should you do?

The advice from the energy regulator Ofgem is clear: Don’t do anything immediately. Ofgem will appoint a replacement supplier. In the case of Extra Energy, Ofgem appointed Scottish Power within just a few days. The new supplier will contact all the affected customers and put them on a ‘deemed’ tariff. The customers then have a choice to agree to a formal contract with the new supplier or choose to go elsewhere.

Should you stay or look for a better deal? That’s where consultants like BBA Energy can help. We will perform a cost comparison of the deal you are offered compared to a wide variety of quotes from other energy suppliers. You could do this on a price comparison site if you wished, but BBA Energy will monitor the moving process, and check your bills to make sure you are paying the old and new supplier the correct amounts. We’re also here to help with any other queries for the lifetime of the new contract.

If you need help with your business energy, why not get in touch.