We understand that it is a worrying time if your energy provider goes bust. There is help at hand. Please don’t worry.
What is Ofgem?
Ofgem (the Office of Gas and Electricity Markets) is Great Britain’s independent energy regulator. Ofgem’s role is to protect customers and to provide a safety net in these circumstances.
They have a process called Supplier of Last Resort (SoLR). It’s in place to protect people from being left without an energy supplier.
This dedicated webpage is updated daily to gives advice and guidance regarding what to do if your supplier does go bust.
The main things you will need to do are:
1. Take a meter reading, sit tight, and don’t try to switch. You can cancel your direct debit if you want to, but this isn’t necessary.
2. Wait for Ofgem to arrange for a new supplier for you. It should take them a couple of days, but you won’t be left without energy
3. When a new supplier gets in touch with you, ask them for their cheapest tariff