Yorkshire Energy (Daisy Energy) has announced it is ceasing to trade, leaving Ofgem to protect its 74,000-strong customer base.
As always, Ofgem will protect these customers and honour any outstanding credit balances, ensuring all customers are looked after following Yorkshire Energy's news.
Ofgem will choose a new supplier for Yorkshire Energy's customers, who will then contact these customers shortly afterwards.
Ofgem's advice for Yorkshire Energy customers is to not switch until a new supplier has been appointed and contact has been made, and to take a meter reading to ensure fair and accurate billing when the new supplier contacts you.
Philippa Pickford, Director of Retail at Ofgem, said:
“Yorkshire 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.”
Tom Lyon, Director of Energy at Energy Helpline says:
“While energy provider failures are rare, Ofgem’s safety net means that gas and electricity for Yorkshire Energy customers will continue as normal, and any credit balances will be protected."
“If you are affected, you should wait until Ofgem has selected a new supplier to take on the customers of Yorkshire Energy. Then it’s recommended that you take a meter reading and compare energy deals - as the new tariff may not be the best value on the market."
“The lowest priced fixed tariffs have started to rise in cost over the past few months, so now is a great time to lock in a cheap deal."
Source: Ofgem
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