Supplier of Last Resort

PfP energy

News emerged this week that energy supplier PfP Energy has ceased trading, leaving 80,000 residential customers and 5,000 non-domestic customers without an energy supplier. So, when providers close what happens to your business energy?

Hub Energy, Simplicity Energy and green Network Energy all closed their doors in 2021 and a supplier of last resort was appointed. In each case the new supplier was E.On Next, British Gas and EDF respectively. During the interim period you still receive your gas and electricity and you’re advised to take a meter reading as soon as possible.

MoneyPlus Energy also went out of business alongside PfP Energy and a supplier of last resort will be announced. This has not happened as yet, but should be confirmed shortly.

OfGem has provided guidance to customers of Pfp and MoneyPlus stating

“Although the news that a supplier going out of business can be unsettling, PFP Energy and MoneyPlus Energy customers do not need to worry. Under our safety net we’ll make sure your energy supplies continue. If you are a domestic customer with credit on your PFP or MoneyPlus account this is protected and you will not lose the money that is owed to you.

Ofgem will choose a new supplier for you and while we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime. 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.”

Business Energy Customers

If you’re a business energy customer and your supplier has decided to stop their service then you can call to obtain advice on the best course of action for your organisation. Our team are on hand to offer no obligation advice and support and often we’ll be able to guide you on the next steps.

Once the new supplier has been determined you will be free to look at other energy providers if you wish. Although your supply will not be interrupted due to the current nature of the energy market and how volatile it has been over the last 18 months, it is unlikely the supplier of last resort will be able to maintain the rates you had agreed with PfP Energy.

To speak to an experienced energy professional at eyebright, please call 0141 530 4152 and we’ll be delighted to help.

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