GB Energy Supply has ceased trading. Ofgem has existing procedures in place to ensure that their customers can have confidence that their energy supply will continue, and that domestic customer’s outstanding credit balances are protected. We’ll now take steps towards appointing a new supplier to take over the 160,000 customers who were with GB Energy Supply.
Ofgem will run a process to choose the supplier which will best protect the interests of GB Energy Supply customers.
Our advice is that GB Energy Supply’s domestic customers should take a meter reading today and wait until their new supplier contacts them and tells them what to do about any credit balances they might have with GB Energy Supply. Once they’ve been contacted, customers should ask to be put on the cheapest deal or shop around for a cheaper supplier. They won’t be charged exit fees.
Rachel Fletcher Ofgem’s Senior Partner for Consumers and Competition said: “In any competitive market companies will fail, this is why we have procedures in place to ensure customers’ energy supplies are always secure.
“If you are a customer of GB Energy Supply there is no need to worry as we will ensure your energy supplies are safe. Ofgem are actively working with the industry to ensure your transition to a new supplier is as smooth as possible. While this process is underway our advice is not to do anything as you can continue to rely on your energy supply as normal.”