Green Network Energy and Simplicity Energy cease trading
Ofgem to protect customers of failed suppliers Green Network Energy and Simplicity Energy. They are the most recent in a series of failures including Tonik, Breeze, Economy Energy, Solarplicity and Spark Energy.
Collectively supplying energy 410,000 domestic customers the news will have come as a shock to a lot of people. Both Green Network Energy and Simplicity Energy announced they were ceasing trading 27th January 2021.
If you are a Green Network Energy or Simplicity Energy customer there is no need to worry
Customers will automatically be moved to a new supplier, appointed by Ofgem, the energy market regulator. Due to Ofgem’s safety net, no Green Network Energy or Simplicity Energy customer needs to worry about their energy supply being disrupted.
Phillippa Pickford, Director of Retail at Ofgem, said: “You can rely on your energy supply as normal"
Once a new supplier has been appointed, the new supplier will contact customers.
Ofgem’s advice to Green Network Energy and Simplicity Energy customers in the meantime is to:
- Not switch energy supplier until a new one has been appointed and they have been in contact
- Take a meter reading ready for when your new supplier makes contact
Ofgem has said “this will make the process of transferring customers over to the [appointed] supplier, and paying back any outstanding credit balances, as smooth as possible”.
Once customers have been moved to their new energy supplier they can ask to be onto that suppliers cheapest tariff or they can shop around to find the best energy deal thats right for them. Exit fees will also not be charged to any customers who choose to switch away from the energy supplier appointed by Ofgem.
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