Personal Finance

What happens if your energy supplier goes bust? Your top SIX questions answered

What happens to your energy supply?

The Government’s Office of Gas and Electricity Markets (OFGEM) oversees the UK’s energy companies.

When an energy firm goes bust, the department picks up their slack and moves their customers to a new company without interrupting their home energy supply.

Representatives will choose the supplier following a “competitive process” that sorts out the best deal.

How long will it take to get a new supplier?

Companies will bid for floating customers, and it could take a “few days” to find a new one.

The department advises people to sit tight while OFGEM handles the handover.

The process should take “a few days”, and people won’t notice “any change” until their new supplier contacts them.

People unhappy with the choice can find a new supplier themselves and won’t have to pay exit fees.


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