Ofgem protects Future Energy customers' supplies and credit balances
Future Energy, a regional energy supplier with about 10,000 domestic customers mainly in the north east and Yorkshire, has ceased trading.
Under our safety net, customers of Future Energy will have their energy supply continue as normal, and their outstanding credit balances will be protected.
We will now choose a new supplier to take on the customers of Future Energy. This supplier will contact Future Energy customers individually when this process is complete.
In the meantime, our advice to Future Energy customers is:
- Don’t switch supplier.
- Do sit tight, take a meter reading and wait until your new supplier contacts you.
This will make the process of handing Future Energy’s customers over to a new supplier, and honouring their credit balances, as hassle free for customers as possible.
Rob Salter-Church, Ofgem’s interim senior partner for Consumers and Competition, said:
“If you are a customer of Future Energy there is no need to worry as we will make sure your energy supplies are secure and your credit balance is protected.
“Ofgem is working to choose a new supplier as quickly as possible for you. Whilst we’re doing this, our advice is to ‘sit tight’ and don’t switch. You can continue to rely on your energy supply as normal – in fact the only thing that will change is that you’ll get a new supplier.”
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 webform. Alternatively, get in touch through Ofgem’s facebook or twitter feed @ofgem.
Notes to editors
- Future Energy is based in the north east and Yorkshire. It has about 10,000 domestic customers, the majority of whom live in Newcastle. It has no business customers.
- Our advice is that Future Energy’s customers should take meter readings today and wait until their new supplier contacts them and tells them what to do about any credit balances. Once they’ve been contacted, customers should ask to be put on the cheapest deal or shop around for a cheaper supplier. They won’t be charged exit fees for switching away from their new supplier.
- More advice and support for customers is available on our website.
For media, contact:
Ruth Somerville: 0207 901 7460
Media out of hours mobile: 07766 511470 (media calls only)
Ofgem is the independent energy regulator for Great Britain. Its priority is to make a positive difference for consumers by promoting competition in the energy markets and regulating networks.
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