UK based One Select, an energy supplier with about 36,000 domestic customers, has ceased to trade.
Under Ofgem’s safety net, the energy supply of One Select’s customers will continue as normal. The outstanding credit balances of domestic customers will be protected.
Ofgem will choose a new supplier to take on One Select’s customers as quickly as possible. This supplier will contact these customers shortly after being appointed.
Ofgem’s advice to One Select’s customers in the meantime is:
- Do not switch to another energy supplier
- Take a meter reading ready for when your new supplier contacts you
This will make the process of transferring customers over to the chosen supplier, and paying back their outstanding credit balances, as smooth as possible.
Philippa Pickford, Ofgem’s interim director for future retail markets, said: “Our message to energy customers with One Select is there is no need to worry, as under our safety net we will make sure your energy supplies are secure and your credit balance is protected.
“Ofgem will now choose a new supplier for you, ensure you get the best deal possible. Whilst we’re doing this our advice is to ‘sit tight’ and don’t switch. You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your new tariff.
“We have seen a number of supplier failures this year and our safety net procedures are working as they should to protect customers.”
Customers who have questions should visit the FAQs on Ogem’s website.