Are you an Extra Energy customer?
On Wednesday 21st November 2018, it was reported that UK gas and electricity supplier Extra Energy had ceased trading. If you’re an Extra Energy customer, there’s no need to worry. Your gas and electricity supply will continue as normal and you will not be cut off or lose power.
The energy regulator Ofgem has chosen the ‘Big Six’ energy provider, Scottish Power to be the allocated supplier for Extra Energy which means they will look after Extra Energy’s gas and electricity connection commitments going forward. They will contact all Extra Energy customers in the next few days to explain how this will work.
Philippa Pickford, Ofgem’s interim director for future retail markets, said: “We are pleased to secure a deal with Scottish Power, where Extra Energy’s domestic and business customers will be offered a competitive tariff for their energy. Their credit balances will be honoured and their energy supply will continue as normal.
“Our advice for customers of Extra Energy is to wait until Scottish Power contacts you. They will give you more information about the tariff you are on, and about your credit balance if you have one. Once the transfer has been completed you can shop around for a better deal if you wish to.”
I was with Extra Energy – what happens now?
Your energy supply will continue as normal. If you have an outstanding credit balance this will be protected, and you will also get your money back. However, your gas or electricity contract will now be moved over to Scottish Power.
Your current tariff with Extra Energy will end, and you’ll be placed on what’s known as a deemed, ie, a default – tariff. Specific details of this tariff remain unknown but it will be a variable rate and it is likely to increase your unit prices. The good news is that this tariff will not have exit fees which means you can find another deal without being charged – though you are likely to only have 14 days to do this.
It is recommended that you take a meter reading while you wait for an update from Scottish Power.
What are my other options?
So that you are able to make an informed choice, we would like to help you explore other options and tariffs before the automated allocation is set in stone. By running a comparison based on your business’s usage, we can find a number of suppliers that will suit your needs. This will give you an impartial view of the options available, so you’re able to make an informed decision before you proceed.
If you’d like to discuss this further with one of our energy experts, please contact us on 0800 464 0996 or get a business energy quote online so we can quickly run through some alternative options with you before the 14 days grace period is over. You are then, of course, welcome to switch suppliers or alternatively remain with the appointed supplier.