Future Energy has ceased trading
For all of you who may not know, Future Energy ceased trading on Thursday 25 January.
First of all, don't panic. Your gas and electricity will stay on and any credit balance is protected by regulator Ofgem's safety-net rules.
Q. What should I do now?
A. Ofgem's advice is to "sit tight" for the moment - over the next few days it will appoint a new provider to take over your supply. According to the regulator:
Don't switch yet. Wait until the new supplier is appointed.
Take a meter reading - you'll need this to settle any credit or debit balance on your Future Energy account.
If you need any further support during this period, Future Energy has advised customers to visit Ofgem's website, or call Citizens Advice on 03454 040506.
Q. Should I cancel my direct debit?
A. Ofgem says the new supplier will contact you shortly to discuss your current direct debit arrangements, so there's no need to cancel it. However, you can do so if you want, as you'll be able to set up a new direct debit with the new supplier.
Q. What will happen if my account is in credit?
A. Importantly, you won't lose it. Ofgem says the new supplier will pay back any outstanding credit - it will contact you to explain how this will work.
The advice is to take a meter reading and a note of your account balance if you know it, and then wait for the new supplier to get in touch.
Q. How long will it take for Ofgem to appoint a new supplier?
A. It's not clear at this stage - Ofgem says picking a new supplier can take up to two weeks, but we understand it's likely to make a decision early next week.
Q. Will Ofgem ensure I get a good deal?
A. It's currently unclear as to whether the new supplier will honour your existing tariff.
Once the new supplier contacts you, check the tariff it's offering, then do a comparison to see if you can find a cheaper deal elsewhere - Ofgem says you won't be charged exit fees if you want to switch away from the new supplier.
Q. I'm paying back debt to Future Energy. Will I instead pay this to my new supplier?
A. This is unclear at the moment. It depends on if the new supplier arranges to take on debts owed to Future Energy. Once a new supplier is appointed, it will explain how things will work in practice.
If you have a bill from Future Energy you should pay it, or pay the new supplier when it is appointed.
Pleased I took steps to switch on 23rd Jan after my last posting on this site, as I always had a feeling this situation was about to happen, they have been useless from the word go... it just could not continue like it had been operating.
26. tammikuuta 2018
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