As the consumer watchdog for the energy market, Citizens Advice responds to the news that four suppliers have failed - bringing the total number of supplier failures to 21 this year, affecting nearly 2.5 million customers in total.
Gillian Cooper, Head of Energy Policy for Citizens Advice, said:
“Suppliers continue to fall like dominoes. It’s customers who are paying the price, with uncertainty, inconvenience and ultimately higher bills.
“Last week, Ofgem set out how it intends to ‘raise the bar’ for supplier standards and improve their resilience in the short-term. This is a positive step, but it's clear that existing rules and their enforcement, has not been enough.
“Longer-term, Ofgem will need to do more to make sure companies are financially sound and provide good customer service. This should include protecting people from the loyalty penalty, which prior to the cap allowed companies to profit from those who didn’t or couldn’t switch.”
Advice for customers:
We recommend taking a meter reading for your own record. Wait to find out who your new supplier will be - it can take a few weeks, but they will be in touch. Your credit balance will be carried over to the new company once they’re appointed. In the meantime, be assured that energy supply will continue as normal.