OneSelect goes bust leaving 36,000 customers without an energy supplier
It is the seventh household energy supplier to go bust this year, but regulator Ofgem has reassured customers their supply won't be cut off
ENERGY firm OneSelect has gone bust, leaving 36,000 customers without an energy supplier.
It is the seventh small energy supplier to go under in 2018, compared to only two in the nine years to January this year.
Or if they need additional support, call Citizens Advice on 03454 04 05 06 or email them via their webform.
Is it safe to switch to a small energy provider?
FED-UP with sky high energy prices and poor customer service from the Big Six energy firms? Then you could save a packet by switching to a smaller firm.
Research from Which? has found customers with smaller and medium sized firms like Utility Warehouse, Flow Energy and Octopus Energy are much happier than those with the major firms - and could save a whopping £333 a year by switching.
The biggest risk of choosing a small provider - like OneSelect - is that it goes bust.
But remember that if the firm does go under you won't be cut off, and Ofgem will try and get a new supplier in place as quickly as it can.
Once it has done this, the new firm will contact you - it doesn't have to honour the deal you were on with defunct firm - but under Ofgem rules any credit you have on your account is protected.
If you're unhappy with the new supplier's offer you are free to shop around for a new deal and switch - you won't have to pay any exit fees to leave.
OneSelect is only the latest small energy firm to go bust in recent months - in mid-November, Extra Energy did the same.
It was then followed by Spark Energy Supply only a few days later.
As a result, Ofgem has announced proposals of stricter rules for new energy suppliers entering the market to protect consumers, and they're expected to come into effect in the late spring next year.
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