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Co-op Energy to supply GB Energy customers

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Written by: Paloma Kubiak
30/11/2016
Co-operative Energy has been named as the provider to take on GB Energy Supply customers after the independent firm collapsed over the weekend.

Energy regulator, Ofgem, has confirmed that the 160,000 GB Energy customers will be switched to a new contract with Co-op Energy today.

The news comes after it emerged over the weekend that GB Energy had ceased trading, citing increased wholesale prices.

Our Q&A explains what happens next:

What tariff will I be put on?

Co-op will offer the same price as you were paying previously with GB Energy, whether you were on a fixed or standard variable tariff. Ofgem originally said it would be “likely” users will pay more with the new provider. You shouldn’t cancel your direct debit but if you do, Ofgem said you don’t need to worry and Co-op will help set up a new direct debit.

What if I want to switch?

Ofgem said if you want to change tariff, contact Co-op to switch to another deal, or shop around. It advises you do not to switch immediately, but wait until the new provider has been in touch with more details about your tariff. It said that you won’t be charged any exit fees.

I was in credit with GB Energy, will I get my money back?

The energy regulator said Co-op will honour all outstanding credit balances for both current customers, and for past customers of GB Energy Supply who are still owed money.

For current customers, any credit on the account will be used to offset future energy use. For past customers, a refund will be processed in due course.

I owed GB Energy money, what happens?

You won’t need to pay back your debt to Co-op. However, you may have to continue to pay this back to GB Energy. Further detail will be provided by the administrator.

I lodged a complaint with GB Energy, will it be processed?

Co-op Energy will be reviewing all existing complaints in the next few weeks with a view to responding to customers as soon as possible.

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