Eversmart Energy goes into administration
Under Ofgem’s safety net, Eversmart Energy’s customers will be supplied with electricity and gas as normal and Ofgem will appoint a new supplier in the next few weeks.
In the meantime, Eversmart Energy prepayment meters can be topped up as normal, while the outstanding credit balances of domestic customers will be protected.
Ofgem is advising Eversmart Energy customers not switch to another energy supplier until a new one has been appointed and it has been in touch.
It suggests households take a meter reading ready for when the new supplier contacts you. This will make the process of transferring customers over to the chosen supplier, and paying back any outstanding credit balances, as smooth as possible.
Philippa Pickford, Ofgem’s director for future retail markets, said: “Eversmart 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’re doing this our advice is to ‘sit tight’ and don’t switch. 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.”
Mark Todd, co-founder of energy comparison website energyhelpline said: “Suppliers are being squeezed by high wholesale prices, the price cap and other unexpected costs. With the energy price cap falling by £75 per year for customers from 1st October on, this could have been the final nail in the coffin for yet another small supplier.
“On top of that, customers also have high expectations when it comes to service and the market competition is forcing more and more suppliers to step up their game. Therefore, today’s news does not come as a shock and more may follow this year.”