GB Energy has ceased trading and goes bust – 160,000 Customers Affected (Updated)
Last night it has emerged that GB Energy has gone bust and ceased trading. It has a estimated 160,000 customers and we’ve been informed customers should not worry about their supply being randomly cut off.
Ofgem (the regulator) states it will appoint a new firm to take over customers supply but it has stated who or when. You should take a reading of your meter and keep track of what is used so that you are not unfairly charged on your next bill when supplier is changed.
Ofgem also had said that if you are in credit you won’t lose your money and will be paid back by the new supplier but this is not yet 100% confirmed.
It looks like Co-operative Energy will be taking over GB Energy customers, as per the link below customers will keep their existing prices until end of their contract. We recommend you start looking around as it’s highly likely you will find a better deal elsewhere such as collective switch offers.
Please check the link below for further information: