Help - what do I do if I am a GB Energy customer?
Posted by NEF Gabby on 2 December 2016 at 5:15 pm
If you are (or were) one of the 160,000 customers of GB Energy, which went bust just over a week ago, you will be pleased to hear that Ofgem has now approved Co-operative Energy to take on all GB Energy's customers.
What does this mean for me?
- your gas and electricity supply will continue as normal;
- you'll stay on the same fixed or standard tariff deal that you had with GB Energy;
- don’t cancel your direct debit - Co-operative Energy will be in touch about transferring the mandate;
- if your account is in credit, it will be honoured, whether you are a current or past GB Energy customer;
- you don’t need to do anything right away - Co-operative Energy will be getting in touch with you.
Ofgem has said that Co-operative Energy will ‘honour all outstanding credit balances for both current customers, and for past customers of GB Energy Supply who are still owed money’. That’s good news, as many of those with credit on their energy bills were worried that they would lose out.
And yet more good news, Co-operative Energy will keep the charges the same as customers were paying on the GB Energy tariff (whether on a fixed rate deal or the standard tariff), but will also allow customers to change tariff, or supplier, with no exit penalties.
Of course this all comes at a cost. Some of that cost will be met by Co-operative Energy themselves and some ‘will be covered by the safety net put in place by Ofgem, which is funded by a levy spread across all energy suppliers’.
Rachel Fletcher, Ofgem’s Senior Partner for Consumers and Competition, said: “We are very pleased to have been able to secure a deal with Co-operative Energy, where GB Energy Supply customers will be paying the same price for their energy as they were before. Their credit balances will also be honoured.
“Co-operative Energy will be supporting GB Energy Supply’s customer contact centre, making sure that customers have a smooth transition to their new supplier.
Our advice for customers of GB Energy Supply is to wait until Co-operative Energy contacts you. They will give you more information about the tariff you are on, and about your credit balance."
Customers with questions should contact the GB Energy Supply customer contact team as normal should they have an enquiry.”
So, if you are/were a GB Energy customer you will automatically be transferred to Co-operative energy. You won’t need to stay with them and can change to a better deal with no exit fees.
If you weren’t a GB Energy customer you should still be pleased to hear this news as it does show that there is someone in the marketplace looking out for the consumer and willing to take action.
Image Credit: Anne at Flickr
If you have a question about anything in the above blog, please ask it in the comments section below.
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