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If your UK energy supplier stops trading, your gas and electricity supply will continue while Ofgem arranges a replacement supplier. Take a meter reading, keep your old bills, and wait for the new supplier to contact you. Then check your tariff, account balance and payment arrangements. “Taken over” can also mean a normal commercial sale; the steps below explain Ofgem’s safety net when a supplier fails financially.
First, check what “taken over” means
When a supplier stops trading because of financial problems, Ofgem normally appoints a Supplier of Last Resort (SoLR) to take on its household customers. Ofgem selects a supplier through a bidding process and must consider whether it can serve the additional customers without harming its existing customers. The appointment usually takes a few days, though Ofgem says choosing a replacement could take up to 14 days. Follow Ofgem announcements and the incoming supplier’s instructions during the transfer.
Ofgem’s household guidance says, “You do not need to do anything. We will choose a new supplier for you.” In practice, taking a meter reading and keeping your account records will help you check the transfer and your first bills.
A supplier may instead arrange a normal trade sale or commercial transfer. In that case, follow the specific transfer notice from the companies; Ofgem’s SoLR process is for urgent or unplanned exits. If Ofgem cannot use SoLR, it may seek an Energy Supply Administration Order. Under that special administration route, an administrator runs the existing supplier while it is rescued, sold or its customers are transferred. Customers continue to receive and pay for energy, and household credit remains protected.
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What to do when the transfer is announced
- Take a meter reading as soon as practical. Photograph the meter or write down the reading, date and time. Keep a copy somewhere you can access even if the old supplier’s online account disappears.
- Save your account records. Keep recent bills, statements, meter photos and payment records. They can help you check opening readings, charges and any credit or debt carried over.
- Wait for the new supplier’s contact. It will explain how your account will be set up and what will happen to Direct Debit payments. Do not assume that your existing payment arrangement will carry over unchanged.
- Check your first bill and tariff details. Confirm the opening reading, unit rates, standing charges and account balance against your saved records. Ask the supplier to explain any difference you cannot reconcile.
What happens to your meter?
Standard meters
Use the reading you recorded to check that the new supplier starts billing from the right point. If you did not record one before the transfer, take a reading as soon as you can and ask the new supplier how to submit it.
Smart meters
Your smart meter may stop sending readings automatically to the new supplier and work only as a traditional meter. You may need to submit readings manually. It could regain smart functionality with a later tariff or supplier, but do not assume that will happen immediately.
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Prepayment meters
You should be able to top up as usual while Ofgem appoints the new supplier. Once the replacement supplier is in place, ask it whether you need a new key card or tokens. These are supplier-specific, so do not buy a generic card or key.
How your tariff and bills may change
If you do not agree to another contract, the new supplier places you on a deemed contract. Ofgem says it will try to find a contract similar to your old one, but your old fixed deal does not automatically continue. The price cap applies to the deemed contract under Ofgem’s current guidance; that does not guarantee the tariff will cost the same as your previous deal.
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Ofgem’s current household supplier-failure guidance says the deemed contract lasts six months, after which it must return to the supplier’s normal rate unless you agree to another contract. Check the new supplier’s contract information for the terms that apply to your account.
Compare the tariff’s unit rate and standing charge, as well as payment method, meter requirements and any exit fee. If the supplier offers more than one option, compare expected annual cost using your household’s usage rather than looking at a single rate alone.
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Choose whether to stay or switch
- Ask the new supplier whether it can move you to its cheapest available tariff.
- You can switch to another supplier without an exit fee under Ofgem’s supplier-failure guidance. Compare available offers; the best option may also be with the new supplier.
- If you had already started switching before your old supplier stopped trading, Ofgem says you will still move to the supplier you chose.
What happens to credit and debt?
Credit on a household account
For domestic customers in the SoLR process, Ofgem says household credit balances are protected under its rules. The incoming supplier receives customer details and contacts you about the balance and any refund. The final bill and closure of the old account may affect the amount or timing of a refund, so keep statements and payment records until the balance is reconciled.
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Debt on a household account
Whether an old debt transfers depends on whether the new supplier agrees to take it on. If it does, it will usually contact you about repayment and may discuss a payment plan. If it does not, you may still owe the former supplier or its administrator. Ask in writing who holds the debt and how the balance was calculated.
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Business customers
Ofgem’s household credit protection does not apply to businesses in the same way. Ofgem may try to appoint a supplier that covers some or all of a business’s outstanding credit, but repayment is not guaranteed. Business customers should follow Ofgem’s separate business guidance and their supplier’s transfer notice.
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