Ofgem orders E to stop transfer of former Economy Energy customers
18 Jan 2019 11:54 AM
E (Gas and Electricity) Limited was issued with a provisional order by Ofgem on 16 January 2019 to stop it completing the switch of former customers of Economy Energy to E.
Ofgem understands that Economy Energy agreed the sale of around 30,000 customers to E in December 2018 and failed to notify Ofgem of this sale when it stopped trading.
Ofgem believes that the contract between E and Economy Energy may no longer be effective as a result of Economy Energy ceasing to trade and the appointment of Ovo Energy to take over its customers.
Ofgem has issued the provisional order to prevent further harm and uncertainty being experienced by former customers of the failed supplier Economy Energy, whilst it investigates this transaction. In the meantime, customers are in the process of being fully set up with Ovo Energy.
The provisional order will remain in place for up to three months, unless it is confirmed. During this period, E must stop the transfer of all former customers of Economy Energy to E and write to Ofgem to state what steps it has taken to satisfy the requirements of the provisional order.
Ofgem’s advice to Economy Energy’s former customers is:
- Unless you have chosen to switch to another supplier, your energy will be supplied by Ovo Energy (PAYM) or Boost (PAYG).
- Do not switch to another energy supplier until your account has been fully set up with Ovo Energy.
- Take a meter reading ready for when Ovo Energy or Boost contacts you over the coming weeks.
Notes to editors
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