Introduction
Has your energy supplier gone out of business? Don’t worry! This guide will help you understand what to do next and ensure you continue to receive gas and electricity without disruption. You’ll learn how to find your new supplier, manage your account, and protect your credit balance during this transition. If you need assistance, there are resources available to help you navigate any legal concerns you may have.
If you find out that your energy supplier has gone out of business, don’t panic! You will still have gas and electricity. The regulator for energy in the UK, Ofgem, will quickly step in to assign you a new supplier, usually within a few days. Here’s what you need to know and do during this time.
Finding Out Who Your New Supplier Is
First, you can check if your energy supplier has gone bust and find out who will be taking over your account. It’s important to wait for your new supplier to reach out to you. They will explain how your account will be managed moving forward. If you don’t hear from them within two weeks, it’s a good idea to get in touch with them.
For Bulb Customers
If you were with Bulb, your account has been transferred to Octopus Energy. There’s no action needed on your part; your account will automatically move over. Your credit balance is safe during this transition, and your energy costs will remain unchanged for now.
Here are a few things you should do:
- Continue paying your direct debit as usual. Do not cancel it; Bulb will still bill you.
- If you have a prepayment meter, keep topping it up as you normally would.
- Maintain any repayment plans you have in place.
If you receive the Warm Home Discount, you’ll keep receiving it from Bulb during this transition. You can check which suppliers are part of the Warm Home Discount scheme on the GOV.UK website.
While You Wait
While waiting for your new supplier to contact you, it’s smart to take some steps:
- Take Meter Readings: Write down your current meter readings and consider taking a photo for reference.
- Keep Old Bills: Hold on to any recent bills. They can help demonstrate your payment history.
- Check Your Balance: Note your account balance from your last statement.
If you don’t have online access to your account, just wait for your new supplier to reach out. They’ll inform you about your balance and any outstanding payments.
Important Note on Switching Suppliers
Do not switch your energy tariff or supplier until your account has been fully transferred to the new supplier. Switching too soon may complicate getting back any money you’re owed.
What Happens If You’re in Credit
If your account was in credit when your supplier went bust, your money is generally protected (unless you’re a small business). Your new supplier will inform you how to retrieve your funds.
For Small Business Customers
If you’re a small business, Ofgem will try to find a supplier that can refund some or all of your credit, but this isn’t guaranteed. Wait for your new supplier to contact you for details on your credit.
If they can’t refund your credit, you’ll need to reach out to the administrator of your old supplier. They handle the debts of the bankrupt company. You can find their contact information on the old supplier’s website. Make sure to register as a creditor and provide proof of your credit balance with old bills or statements.
Once You Know Your New Supplier
Once your new supplier contacts you, they will set up your account and inform you of your new tariff. Be aware that this new tariff might be more expensive than your previous one. If you’re not satisfied with it, you can switch without incurring an exit fee.
Smart Meters
If you have a smart meter, it may temporarily stop working in smart mode after the switch. If your meter screen goes blank for more than two weeks, reach out to your new supplier for assistance. You might need to switch to a different supplier if you want your meter to work in smart mode again. You can check if your meter will work in smart mode after switching.
If You Were on the Priority Services Register
If you were on your old supplier’s Priority Services Register, check with your new supplier to see if you’re still on it. If not, you can request to be added to their register for extra support and services.
For Prepayment Customers
If you use a prepayment meter, only top up small amounts until your new account is set up. This is a precaution in case your credit is wiped during the transfer. Your new supplier will inform you of how to top up your meter and whether you’ll need a new one.
If You Were Switching Suppliers
If you were in the process of switching suppliers when your old supplier went bust, you will still be moved to the new supplier you chose. You won’t need to do anything, and your money should be protected.
Handling Debts
If you owe money to your old supplier, you will still need to pay that debt. Wait for your new supplier to contact you about how they will handle it. If they don’t take on your debt, you’ll need to deal with the administrator instead.
If You Have Problems
If you encounter issues with your meter or any other problems, contact your new supplier directly. They should be able to help you resolve these issues.
Get Help If You Need It
If you’re struggling to pay for your energy, there are resources available. Check for government assistance or benefits that might help. Remember, it’s important to stay informed and proactive during this transition to ensure your energy needs are met smoothly.
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