What to do if your energy supplier goes bust
If your energy supplier goes bust...
- You'll still get gas or electricity, even if your energy supplier goes bust. Ofgem will move your account to a new supplier but it may take a few weeks. Your new supplier should then contact you to explain what is happening with your account
- While you wait to hear from your new supplier: check your current balance and - if possible - download any bills and take a photo of your meter reading - remember the date you took the photo.
- If you pay by direct debit, there's no need to cancel it straight away. Wait until your new account is set up before you cancel it
- If you're in credit on your account, your money is protected and you'll be paid back. If you were in debt to the old supplier, you'll still have to pay the money back. The new supplier should contact you to arrange a payment plan
- Once you've been informed of your new supplier, make sure you're on the best tariff for you. You can switch if you're not happy with your new supplier or tariff without any penalties, but don't do this until the account has been moved over.
Source: Citizens Advice