Co-operative Energy is to take on GB Energy Supply’s 160,000 customers, after GB Energy Supply stopped trading at the weekend.
Co-operative Energy was selected by energy market regulator Ofgem in a competitive tender process over the last couple of days.
The process began after GB Energy Supply announced that ‘swift and significant increases in energy prices over recent months’ meant its position became ‘untenable’. GB Energy Supply stopped trading on Saturday.
If you were a GB Energy Supply customer, you will now be transferred to Co-operative Energy. You will continue to pay the same amount. Credit balances will be honoured, Ofgem confirmed.
Which? Managing Director of Home and Legal Services, Alex Neill, said: ‘It is welcome that Ofgem has swiftly appointed Co-operative Energy to take on GB Energy’s customers and that they will be paying the same amount as before.
‘We encourage these customers to research whether there is a better deal for them. Which? Switch provides consumers with a transparent and impartial way to compare energy tariffs. Or you can call us on 0800 410 1149.”
What next for GB Energy Supply customers?
Co-operative Energy is aiming to contact all customers in the next 24 hours with information about tariff and current credit balance. If you were a GB Energy Supply customer, your tariff will stay the same whether you were on a fixed deal or GB Energy Supply’s standard tariff. So your energy bills should not go up.
If you want to change your tariff, you can ask Co-operative Energy to put you on its cheapest deal – or shop around using an independent switching site, like Which? Switch. If you were on a fixed tariff with GB Energy Supply, you will not be charged an exit fee.
If you are in credit, this will be used to offset future use. If you have switched away from GB Energy Supply but were in credit, according to Ofgem this will be paid back to you. Although Ofgem said Co-operative Energy is still ‘developing a process’ to do this, and that this may be part-funded by a levy on all energy suppliers.
Ofgem advises you to wait until Co-operative Energy contacts you. But you can contact the GB Energy Supply customer contact team on 0800 644 4451 if you have any questions.
Co-operative Energy – what you need to know
Co-operative Energy ranked 20th out of 22 firms in our most recent energy companies customer survey, where we asked 8,000 energy customers to tell us what they thought of their supplier (survey: October 2015). GB Energy Supply ranked ninth.
Co-operative Energy scored one star out of five for its complaints handling, and two for its customer service and the accuracy and clarity of its bills. The supplier also paid out £1.8million in compensation this autumn to customers let down by its complaints resolution call handling and billing processes. Problems were a result of a new IT system it installed in March 2015.
Our undercover call waiting investigation in September and October 2016 found it takes one minute and four seconds on average to get through to a human when phoning Co-operative Energy’s customer services. The fastest company, Ebico, answered in 21 seconds on average. However, Co-operative Energy was third fastest and has vastly improved since last year, when it took nine minutes longer on average to answer the phone.
Co-operative Energy increased its gas and electricity prices by 3% on average from 1 October 2016. For those on prepayment meters, the increase was 6% on average.