Customers whose energy supplier is no longer operating should take a meter reading, which the new supplier will need to provide an accurate bill. Ofgem will carry out the switch from the old supplier to the new one, so customers should wait until they are informed that the switch has been completed when they will be informed of the supplier, tariff and payments. After the switch is completed, customers can then consider switching to a new tariff or supplier.
Consumers should be aware that with gas prices rising, they may struggle to find a more competitive tariff than the one they have been moved to.
On 1 October 2021, Ofgem increased the price cap, which limits how much energy suppliers can charge customers per unit of energy and associated standing charges, to £1,277. This price cap only impacts customers on the supplier’s standard variable rate default tariff and does not apply to those on a fixed rate tariff.
Those concerned about their ability to meet new repayments should speak to their new supplier or consider contacting Citizens Advice for impartial advice. Customers with complaints against their energy supplier can contact Ofgem.
Consumers considering switching energy suppliers for a more competitive rate can find out more information by reading our saving money by switching energy supplier guide.
