Lisa Barber, Which? Home Products and Services Editor, said:
“Energy customers with People’s Energy and Utility Point will be deeply concerned by the news their energy supplier has ceased trading. However, customers should not panic – and while they wait for Ofgem to appoint a new provider we’d recommend taking a meter reading.
“Once the transition is complete, customers are under no obligation to stay with the appointed provider and should consider shopping around for a better deal, especially if they are on a default or standard variable tariff as their bills could rise significantly from next month due to the increase in the energy price cap. Any credit balances customers have with the previous energy supplier will also be protected. ”
Notes to editor:
Customers looking for cheaper energy deals can compare deals with Which? Switch, a transparent and impartial way to compare energy tariffs and find the best gas and electricity supplier for you.