You are here: Home - Household Bills - News -

Octopus Energy takes on half a million Avro customers

0
Written by:
27/09/2021
Some 580,000 customers of failed supplier Avro Energy have been moved across to Octopus, Ofgem has announced.

Avro is one of a number of suppliers to go bust amid a surge in wholesale gas and electricity prices that is proving catastrophic for the energy industry.

According to Ofgem, Avro customers’ outstanding balances will be honoured and supplies should continue as normal.

Avro customers will be contacted over the coming days about the changes. If they want to switch supplier, they can shop around but are advised to wait until the transfer has been completed. Customers will not be charged exit fees if they decide to switch to another supplier.

Neil Lawrence, Ofgem’s director of retail, said: “I am pleased to announce we have appointed Octopus Energy for the customers of Avro Energy. We understand that this news may be unsettling for customers, however they do not need to worry. Their energy supply will continue as normal, and customer credit balances will be honoured.

“Your energy supply will not be interrupted. Octopus Energy 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.”

A message on the Octopus website said: “Ofgem, the energy regulator, has asked Octopus Energy to step in and look after Avro’s customers as the company have ceased trading. Over the next few weeks, we will transfer you to our systems and move you to one of our competitive tariffs. Once this switch process is complete, you’ll be free to stay with Octopus with no exit fees, or switch to another supplier. You won’t be able to switch until then due to energy industry limitations.

“If you have recently left Avro and have a credit or debit to settle, please do not contact us yet. We will contact you within the next 4 weeks to let you know what happens next.

“If you started to switch to, or away from Avro, more than 7 days ago, the switch will continue uninterrupted. If it was less than 7 days ago, the supplier you are moving from, or moving to, may be able to cancel the switch if you prefer.”

Meanwhile, Shell Energy has been appointed to take on the 255,000 customers of collapsed company Green.

Customers of Green will be contacted over the coming days about the changes.

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.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Privacy Preference Center

Necessary

Advertising

Analytics

Other