Another Small Energy Supplier Goes Bust

By : Business Save |September 15, 2019 |Energy Blog |0 Comment

Energy industry regulator Ofgem recently announced that the small energy supplier Solaplicity has ceased trading. The news follows the recent collapse of Cardiff Energy Supply, customers have been transferred to ‘Big Six’ supplier SSE.

Solarplicity serviced approximately 7,500 domestic customers as well as a little under 500 businesses. They are all protected by Ofgem’s safety net and will be transferred over to the care of EDF Energy.

Ofgem’s Safety Net to Protect Customers

The number of customers needing to be transferred to a new supplier could  have been much higher. Just last month around 44,000 of Solarplicity’s retail customers were purchased by rising energy supplier TOTO Energy. They will not be affected by Solarplicity’s closure. The Ofgem safety net need only apply to the 8,000 or so remaining customers.

Those customers have continued to receive their energy as usual in the meantime. They were advised not to switch to another supplier until a new one had been assigned.

They were also informed they should take a meter reading for when the new supplier contacted them. By taking the meter reading ahead of time, the transfer process is a lot quicker and smoother. The most beneficial part of this for the customers is that outstanding credit balances will be paid back much faster.

Ofgem’s Director for Future Retail Markets, Philippa Pickford, reassured the remaining customers when she said, “Solarplicity 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. We will update you when we have chosen a new supplier, who will then get in touch about your new tariff.”

EDF Energy Selected for Solarplicity’s Remaining Customers

French energy supplier EDF Energy were recently confirmed as the chosen replacement firm. Solarplicity’s approximate 7,500 domestic customers and 500 business customers will be transferred presently. Both EDF Energy and Ofgem reiterated their assurance that all outstanding credit balances will be honoured. Energy supplies will continue as normal too.

Customers will be contacted directly once they have been officially switched over to the new supplier. EDF Energy will inform them of the next steps they need to take once their accounts have been set up.

An EDF Energy spokesperson said, “We are pleased to be able to step in to support the customers of Solarplicity, who will have been concerned to hear that their existing has stopped trading. They should feel reassured that with EDF Energy, they will be moving to an experienced and reliable supplier, with a good track record for customer service.

“Customers are asked to take a meter reading and we will write to them in the coming weeks, providing them the details of their new accounts and any further actions they need to take.”

To learn more about different energy suppliers and tariffs, contact Business Save and their team of highly experienced energy experts.

 

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