Green Network Energy and Simplicity Energy go bust leaving 410,000 customers in limbo
ENERGY suppliers Green Network and Simplicity Energy have gone bust leaving 410,000 customers in limbo.
Regulater Ofgem has reassured households that their gas and electricity supplies will not be cut off.
Instead, bill payers should continue to make their direct debits and top up prepayment metres as normal.
Green Network Energy supplied gas and electricity to around 360,000 UK households, while Simplicity Energy had around 50,000 customers.
Ofgem is now working on finding a new provider to take on both suppliers' customers and has said all outstanding credit balances will be protected.
It's the latest in a string of small energy supplies to collapse in recent years. Others include Tonik Energy, Economy Energy, Solarplicity, and Spark Energy.
How to save on your energy bills
SWITCHING energy providers can sound like a hassle – but fortunately it’s pretty straight forward to change supplier – and save lots of cash.
Shop around – If you're on an SVT deal you are likely throwing away more than £300 a year. Use a comparion site such as MoneySuperMarket.com, uSwitch or EnergyHelpline.com to see what deals are available to you.
The cheapest deals are usually found online and are fixed deals – meaning you'll pay a fixed amount usually for 12 months.
Switch – When you've found one, all you have to do is contact the new supplier.
It helps to have the following information – which you can find on your bill – to hand to give the new supplier.
- Your postcode
- Name of your existing supplier
- Name of your existing deal and how much you pay
- An up-to-date meter reading
It will then notify your current supplier and begin the switch.
It should take no longer than three weeks to complete the switch and your supply won't be interrupted in that time.
Customers are being urged not to switch suppliers until a new one has been appointed. The new provider will get in touch once this happens.
Ofgem warned customers may see bills go up marginally as the new provider looks to source emergency energy to supply the extra households.
But if you still want to switch deals, you should take a meter reading ready for when the new supplier contacts you.
You can then ask to be put on the suppliers cheapest deal or instead shop around for a better offer with another provider.
The regulator has said customers will not be charged exit fees if they want to switch before their deal was due to come to an end.
Director of retail at Ofgem Philippa Pickford said: "Green Network Energy and Simplicity Energy customers do not need to worry, as under our safety net we’ll make sure your energy supplies are secure and domestic customers’ credit balances are protected.
"Ofgem will now choose a new supplier for you and whilst we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime.
"You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your new tariff."
A statement on Green Network Energy and Simplicity Energy's websites confirm that they have "ceased trading".
"Customers need not worry, their supplies are secure and domestic credit balances are protected," it continues.
The Sun has contacted Green Network Energy and Simplicity Energy for comment.
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