Chris Felgate, Director –
I’m an energy broker. In its most basic form, I get paid to sell energy. But I’m disgusted by the amount of posts and ads I’ve seen in the last few days from “experts” saying the customers of Extra Energy, who ceased trading this week, should call them so they can protect them. As someone who has worked on the receivership of energy suppliers myself, I can tell you the correct thing to do is what Ofgem have said . DO NOTHING. There’s a process for this. The process works. Wait for the newly appointed supplier to contact you. It’s worth taking a meter read so you have a line in the sand but don’t change supplier, it only muddies the water for you later. The “protection” you’ll be offered, will be for the “experts” to sell you a new contract and for them to make some cash from this unfortunate situation. This will not serve your best interests. I would recommend keeping an eye out for the next Ofgem announcement. If you’re unsure, please feel free to contact me or the Ginger team on 0345 307 3433.
Extra Energy Update:
Scottish Power has been appointed as SOLR. Here are the highlights of the Ofgem announcement:
- Business credit balances have been protected.
- Supplies move Sunday 25th.
- If you decide to leave Scottish Power after this date there’s no exit fee.
- However, if you try to move prior to the migration your transfer will be delayed or may not happen. In short, wait for Scottish Power to contact you. If you end up on deemed rates you’ll not escape them quicker by trying to force your registration ahead of Scottish Powers. Let them register your supply then move if you want, but as Scottish Power are partially funding the credit balances there is a good chance they will want to retain your business with good rates. We had no client contracts with Extra as our business models didn’t align, but I’m always happy to help if anyone wants a second opinion.
“Very well put Chris! I’ve also noticed a big increase in posts on this specific supplier recently and share your opinion.”
“That is the very best customer support message I’ve read since the news broke.”