Co-operative Energy picked to take on GB Energy Supply’s 160,000 customers

SMALL energy firm Co-operative Energy has been picked as the supplier to take GB Energy Supply’s 160,000 customers.

Customers are able to now compare prices and switch to a new supplier - without paying an exit fee.

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Ofgem appointed the new supplier after GB Energy Supply went out of business at the weekend.

The firm blamed ‘swift and significant increases in energy prices’ for its sudden demise
Co-operative Energy will honour any outstanding credit for past and current customers of GB Energy Supply.

The energy regulator said that customers would be contacted by Co-operative Energy over the next few days to discuss their new tariff and current credit balance.

Martin Lewis, founder of MoneySavingExpert.com, said: “It’s not something I’ve said before, but plaudits to Ofgem for sorting this so swiftly and what so far seems to be a good result for consumers.

“We now have to hope that the transition goes smoothly. I do have some minor concerns that over the past few years Co-op Energy has not had the best customer service reputation, indeed in our recent November poll 56 per cent rated it ‘poor’.

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“It has to be said, some of this is legacy issues from when it changed its billing system so hopefully things will not be too bad – if it is then the best advice is to ditch and switch, that said you may as well give it a chance if its price is cheap.

Rachel Fletcher, Ofgem’s senior partner for consumers and competition, said: “We are very pleased to have been able to secure a deal with Co-operative Energy, where GB Energy Supply customers will be paying the same price for their energy as they were before. Their credit balances will also be honoured.

“Our advice for customers of GB Energy Supply is to wait until Co-operative Energy contacts you. They will give you more information about the tariff you are on, and about your credit balance.

When GB Energy Supply went bust the regulator stepped in to provide assurances to customers that their gas and electricity would not be cut off.

This is part of the regulators commitment to provide assistance to customers if an energy firm goes out of business.

Ben Reid, from Co-Operative Energy said: “We have worked very hard over the last few days with Ofgem to structure an agreement that provides continuity for GB Energy Supply’s customers, employees and the company’s customer service and billing contractors."

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