What to do if your energy supplier goes bust
First of all – don’t panic! You will still get electricity and gas if you use it. You will not be cut off!
Ofgem, the regulator, will move you to a new supplier automatically and this process usually takes a few weeks. Your new supplier will then contact you.
In the meantime:
- Take a meter reading. It is useful to take a photo of the meter reading, if possible, so you have a record.
- Find any old bills showing your account balance. If you have an online account, log in and download your bills. These will help you prove your payment history and show any credit or debt on your account.
- Don’t worry if you can’t access your account straightaway – lots of people are trying to log on at the same time so it is probably busy. Do keep trying.
- If you pay by direct debit don’t stop it straightaway. Wait until your new account is set up with your new supplier, then cancel it.
- If you are in credit on your account – your money is safe. Don’t switch supplier, wait until you are automatically switched, otherwise it may be harder for you to get your money back.
After a few weeks you should hear from your new supplier. If you haven’t heard from your new supplier you can check who it is here. They will automatically set an account up for you.
Once your account is moved:
- Contact your new supplier to make sure you are on the cheapest tariff.
- If you are unhappy, now you can change supplier to one of your choice. Don’t do this until your account has been moved. You will be allowed to move without paying any kind of fee.
We have taken this information from Citizens Advice who will also be able to help with further information about the Warm Homes Discount and smart meters. Click here.
Martin Lewis, the Money Saving Expert also has some advice.