One Select, a domestic energy supplier supplying around 36,000 households has ceased trading. Commenting on the news, Emma Bush, energy expert at Uswitch.com, said:
“Well run small suppliers not only offer cheaper tariffs but also outperform the bigger players in areas like customer service, green energy, and easy account management. Although a small number of energy companies have ceased trading this year, the Ofgem safety net means their customers have nothing to fear as their energy supplies will continue uninterrupted and their credit balances are protected.
“A handful of suppliers entered the winter period with little room for manoeuvre. Unexpectedly high demand thanks to the Beast from the East has helped push up commodity costs, while switching volumes have reached near-record levels. Companies which have less capital available, have been struggling to pay policy obligations, or are having problems with internal processes such as billing or collecting payments are therefore going to find conditions challenging in the current environment.”
Ofgem, the energy regulator, is in the process of finding a new supplier for those customers affected. Their energy supply will not be affected and their credit balances will be protected.
Households formerly supplied by One Select are advised to wait until they have been contacted by their new supplier with details of which tariff they will be put on, at which point they can run a comparison to decide if they would prefer to move elsewhere.
Find out how you could save over £1,000 a year with Uswitch here.
FOR MORE INFORMATION
Ailene Barr
Phone: 020 3872 5610
Email: ailene.barr@uswitch.com
Twitter: @uswitchPR
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