Ofgem protects customers of failed supplier Our Power
Press release
Publication date
Company
Industry sector
- Supply and Retail Market
- Generation and Wholesale Market
Our Power, an energy supplier with about 31,000 domestic customers, has ceased to trade.
Under Ofgem’s safety net, the energy supply of Our Power’s customers will continue and pre payment meters can be topped up as normal. The outstanding credit balances of domestic customers will be protected.
Ofgem will choose a new supplier to take on Our Power’s customers as quickly as possible. This supplier will contact these customers shortly after being appointed.
Ofgem’s advice to Our Power’s customers in the meantime is:
- Do not switch to another energy supplier.
- Take a meter reading ready for when your new supplier contacts you.
This will make the process of transferring customers over to the chosen supplier, and paying back their outstanding credit balances, as smooth as possible.
Philippa Pickford, Ofgem’s director for future retail markets, said:
“Our message to energy customers with Our Power is there is no need to worry, as under our safety net we will make sure your energy supplies are secure and your credit balance is protected.”
“Ofgem will now choose a new supplier for you, ensuring you get the best deal possible. 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.”
“We have seen a number of supplier failures over the last year and our safety net procedures are working as they should to protect customers.”
Updates are available from our website or through our twitter feed @ofgem.
Customers who have questions should visit the FAQs on our website. Or if they need additional support, call Citizens Advice on 03454 04 05 06 or email them via their webform. Alternatively, get in touch through Ofgem’s facebook or twitter feed @ofgem.
Notes to editors
- Our Power’s customers should take meter readings today and wait until their new supplier contacts them. Once they’ve been contacted, customers can ask to be put on their new supplier’s cheapest deal or shop around for a better deal from another supplier. They won’t be charged exit fees for switching away from their new supplier.
- Customers with prepayment meters will be able to continue to top up as normal. Our Power or the new supplier will contact customers to ensure they are informed of any changes to arrangements for pre payment customers.
- Ofgem's safety net will make sure customers will always have an energy supply, credit balances are protected and that the process in moving over to the appointed supplier is as smooth and hassle free as possible.
Further information
For media, contact:
Chris Lock: 0207 901 7225
Media out of hours mobile: 07766 511470 (media calls only)
About Ofgem
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