You are here: Home - Household Bills - News -

Bulb takes on failed Gnergy customers

0
Written by:
23/03/2020
Bulb has been appointed by the regulator to take on thousands of Gnergy customers after the small supplier collapsed last week.

The energy regulator, Ofgem, said 9,000 Gnergy customers have been moved to Bulb following a “competitive process to get the best deal” for them. The move comes after Gnergy collapsed last week.

All outstanding credit balances will be honoured, including money owed to both current and existing customers of Gnergy. Ofgem added that Bulb will absorb all of the costs of honouring customer credit balances and during the migration process.

Current and former customers who owe money, or are in debit to Gnergy should wait to hear from Bulb or Gnergy’s administrators.

For existing customers, energy supply will continue as normal but they will be contacted over the coming days about the changes.

If customers want to switch supplier they should shop around. They won’t be charged exit fees if they decide to switch to another supplier.

Philippa Pickford, Ofgem’s director of future retail markets, said: “I am pleased to announce we have appointed Bulb for the customers of Gnergy. Their energy supply will continue as normal and credit balances will be honoured.

“Bulb will be in contact with customers over the coming days with further information. Once the transfer has been completed, customers can shop around for a better deal if they wish to.”

Bulb is a renewable energy supplier with more than 1.6 million customers in the five years it has been trading. It said for Gnergy customers switching to it, many will see a significant price drop.

Hayden Wood, co-founder and CEO of Bulb, said: “We’re delighted Ofgem has chosen Bulb to provide energy for Gnergy’s customers. It’s important that everyone has a reliable energy supply, especially during a time like this. I’m proud of how quickly our team has adapted to remote working in order to keep supporting our members. We’re excited to welcome our new members, and look forward to helping them cut their bills and reduce their carbon emissions.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

Low-income pensioner? You could gain £3k top-up

Hundreds of thousands of retirees struggling with a low income are missing out on Pension Credit worth £3,300...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week