Ofgem announce Co-op to take over failed supplier GB Energy's customers

Ofgem have announced that customers of the failed energy company GB Energy Supply which folded at the weekend will be transferred to Co-operative Energy.

Ofgem announce Co-op to take over failed supplier GB Energy's customers

Ofgem have announced that customers of the failed energy company GB Energy Supply which folded at the weekend will be transferred to Co-operative Energy.

Customers will automatically be transferred to a new contract with Co-operative Energy tomorrow, 30th November.

Customers will be charged the same price by Co-operative Energy as they were previously paying to GB Energy Supply regardless of whether they were on a fixed or variable rate tariff.

Any credit balances will be paid back to customers by Co-operative Energy.

The Ofgem guidance is clear that both current and past GB Energy Supply customers will be able to get credit balances paid back (https://www.ofgem.gov.uk/publications-and-updates/gb-energy-supply-customers-your-questions-new-supplier-co-operative-energy).

Ofgem state:

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. For current customers any credit on their account will be used to offset future energy use. For past customers a refund will be processed in due course.

Customers don’t need to stay with Co-operative Energy and can switch away. All suppliers are accepting switches from customers who were previously with GB Energy Supply.

Currently a typical customer who was with GB Energy Supply on their variable tariff can save about £200 by switching.

We would encourage customers to shop around and start enjoying these savings before Christmas.

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