Green Network Energy and Simplicity Energy have ceased trading, leaving around 400,000 energy customers without an energy supplier.
However, as always, all customers are protected under Ofgem's safety net, which means any outstanding credit balances will be honoured.
Ofgem will choose the new energy supplier who will take on both energy supplier's customers, who will contact them when the decision has been made.
It's important to note that these customers should not switch until a new energy supplier has been appointed to them, and to take a meter reading ready for their new supplier when they make contact. This ensures paying any outstanding credits balances are paid back in full without any inconveniences.
Philippa Pickford, Director of Retail at Ofgem, said:
“Green Network Energy and Simplicity Energy 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."
“Ofgem will now choose a new supplier for you and whilst we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime. You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your new tariff.”
Source: Ofgem
