Advice if your energy supplier goes out of business

News Date: 
Wednesday, November 24, 2021

You may have heard in the news recently that energy prices are increasing, and a number of suppliers have gone out of business. If this happens to you, Citizens Advice has some useful information about what to do, and what will happen. We've shared some of their tips below. 

What will happen if my supplier goes bust?

  • Don't worry, you will still get gas and electricity supplied to you. 
  • The gas and electricity regulator, Ofgem, will move you to a new supplier. This usually takes a few weeks.
  • Your new supplier will contact you to explain what will happen with your account.
  • If you don't hear from your new supplier after a few weeks, you can check who's taken over your supply here: Check who's taken over your energy supply

While you're waiting to hear from your new supplier:

  • If your account is in credit, your money is protected. Don't switch your tariff or supplier until your account is moved to a new supplier. You might find it harder to get any money you're owed if you switch before this happens.
  • If you have an online account, it's a good idea to log into it, check your balance and download any bills. 
  • Take meter readings. It's useful to take a photo of these for your records. 
  • Keep any old bills you may have. These can help to prove your payment history, any credit you have on your account and any money you may owe. 
  • Make a note of your account balance. You can find this on your most recent statement. 
  • If you pay by direct debit, don't cancel it straight away. Wait until your new account is set up before cancelling. 

When you know who your new supplier is:

  • You should hear from your new supplier within a few weeks. 
  • Your new tariff might be more expensive than your old one. Get in touch with your new supplier to make sure you're on the best tariff for you. 
  • You can switch if you're not happy with your new supplier or tariff. You won't have to pay an exit fee. 

This advice is taken from Citizens Advice, who can also help with:

  • Switching energy supplier; 
  • What to do if you were in debt to your old supplier;
  • The Warm Homes Discount;
  • Smart meters; and
  • What to do if you have a prepayment meter. 

Go to their website to read their advice, and to find out how to get in touch: Citizens Advice - Your energy supplier has gone bust