If you’ve been affected by your energy company becoming insolvent, don’t worry, there’s nothing you need to do immediately. Your energy supply won’t stop, but we want you to know that we’re here to help if you need us. Our tips below show what’s available, ways to manage your finances and other organisations that may be able to help.
Tip 1 – Find out how you’re protected
Ofgem is the UK energy regulator who aim to protect energy customers, especially vulnerable people. Ofgem's website contains up-to-date guidance such as what to do if your energy supplier goes out of business, who will be taking over your energy supply and information about government schemes you may qualify for.
Tip 2 – Worried about your Direct Debit?
You may be thinking about cancelling the Direct Debit to your energy company if it’s ceasing trading. However, the energy regulator Ofgem has a ‘safety net’ which means that they will switch you over to a new provider who will be in touch.
Leaving your Direct Debit in place will mean that you won’t fall behind with any payments and your Direct Debit will switch to your new provider.
Tip 3 – Ways we can help
If you’re worried that finances will be a struggle because of a possible increase in energy prices, we’re here to help.
Alternatively, you may want to talk to another organisation which offers free, independent advice. You’ll find out more about them and how to contact them on our independent help and support page
Tip 4 – Money worries
If you're concerned about your finances in general, our money worries page has a lot of information that may be useful.