Energylinx News

January 2019 Monthly Archive

January 25, 2019

Our Power Ceases Trading

Our Power, an energy supplier with about 38,000 domestic customers, has ceased to trade.

Our Power is the 10th energy supplier to go bust in the last 12 months.

Under Ofgem's safety net, the energy supply of Our Power's customers will continue, and pre-payment meters can be topped up as normal. The outstanding credit balances of domestic customers will be protected.

Ofgem will choose a new supplier to take on Our Power's customers as quickly as possible. This supplier will contact these customers shortly after being appointed.

Ofgem's advice to Our Power'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 director for future retail markets, said:

"Our message to energy customers with Our Power 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, ensuring 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 over the last year and our safety net procedures are working as they should to protect customers."

Posted on January 25, 2019 at 12:14 PM

January 24, 2019

Npower Launch Cap Tracker 2020

On the back of the Energy Price Cap, Npower has launched a new tariff that will always be 6% lower than the Ofgem Default tariff cap.

The initial prices are based on a 6% discount to the Ofgem Default tariff cap prices effective from 1st January 2019. Ofgem will review the cap every 6 months. The next review is in February and will go live on 1st of April.

Prices can go up or down to reflect the changes to the energy price cap, but any customers on Npower's Cap Tracker 2020 will always be charged 6% less than the cap prices. Npower will notify any customers about any changes to their energy prices.

What is the Energy Price Cap?

The energy price cap will limit how much energy suppliers can charge customers per unit of energy. Ofgem has calculated what energy suppliers needs to spend to get energy to your home and based the cap on that.

Who is Npower?

Npower is one of Britain's "Big Six" energy suppliers, and is part of the Innogy group, one of Europe's leading electricity and gas companies.

Npower serves around 4.84 million residential and business accounts with electricity and gas.

Key Features of Npower's Cap Tracker 2020

• With Npower's Cap Tracker September 2020 tariff and your prices will be 6% lower than the Ofgem Default tariff cap until 30th September 2020.
• Variable discount off your standing charge and unit rate, depending on how much energy you use, when paying for both electricity and gas by Direct Debit.
• No early exit fees.
• Customer will receive a discount for paying by Direct Debit. Direct debits will be reviewed every 6 months to ensure customers are paying the correct amount.

Npower's Cap Tracker 2020 is available for switching through Energylinx. You can either do a comparison on our website or by calling 0800 849 7077. Our contact centre is open Monday to Friday 9am - 6pm and Saturday 9am - 3pm.

Posted on January 24, 2019 at 08:01 AM

January 21, 2019

Record Year for Energy Switching

Energy UK has announced the electricity switching figures for 2018 and it was a record-breaking year.

To mark the start of Big Energy Saving Week, Energy UK has said that 5.8 million customers switched over the 12-months of 2018 - a 6% increase on the number of switches that were arranged in 2017.

This means 1 in 5 households switched electricity suppliers during 2018, with nearly half a million energy switches arranged every month on average.

This continues the trend of year-on-year increases in energy switching and high levels of engagement, particularly when compared to other industries. A survey by GoCompare found that during 2017 energy was in top 3 switching sectors during 2017 with a 19% switching rate, ahead of broadband, mobile (both 11%).

In December alone, nearly half a million customers (464,378) switched supplier, up 10% on December 2017. The figures show that 21% of all switches in December went to small or mid-tier suppliers last month, with nearly 100,000 customers (98,962).

Consumers continue to have confidence in switching according to the latest research from the Energy Switch Guarantee - an industry initiative that makes switching simple, speedy and safe.

Lawrence Slade, chief executive of Energy UK, said:

"It is positive to see such high levels of energy switching - particularly when compared to other sectors - with one in five customers switching supplier in 2018. My hope remains that, with the recent introduction of the price cap, we don't see this element of competition undermined and switching levels fall, as is predicted in Ofgem's impact assessment.

"With winter in full swing, I urge everyone to get in touch with their supplier or have a look online to make sure they are on the best energy tariff for them, whether that be on price, service or green considerations. More importantly, as the temperatures fall, consumers should ensure their house is energy efficient - for example checking that it is well insulated - which is the best way to keep energy bills down in the long run."

Energylinx offers a free and impartial energy comparison and switching service. You can compare energy suppliers on our website or by calling 0800 849 7077. We are open Monday to Friday 9am to 6pm and Saturday 9am - 3pm.

Posted on January 21, 2019 at 10:37 AM

January 8, 2019

Economy Energy ceases trading

Economy Energy, an energy supplier with about 235,000 domestic customers, has ceased to trade.

Economy Energy entered into the energy market in 2011.

Under Ofgem's safety net, Economy Energy's customer energy supply will remain unaffected and prepayment meters can be topped up as normal. If you currently have a credit balance with Economy Energy, this will be protected.

Ofgem will choose a new supplier to take on Economy Energy's customers as quickly as possible. This supplier will contact these customers shortly after being appointed.

Ofgem's advice to Economy Energy's customers in the meantime is:

1. Do not switch to another energy supplier.
2. Take a meter reading ready for when your new supplier contacts you.
3. This will make the process of transferring customers over to the chosen supplier, and paying back their outstanding credit balances, as smooth as possible.

Posted on January 8, 2019 at 01:14 PM

January 4, 2019

Ofgem bans Economy Energy from taking on new customers

UPDATE: Tuesday 8th of January

Economy Energy, an energy supplier with about 235,000 domestic customers, has ceased to trade.

Under Ofgem's safety net, the energy supply of Economy Energy's customers will continue and prepayment meters can be topped up as normal. The outstanding credit balances of domestic customers will be protected.

Ofgem will choose a new supplier to take on Economy Energy's customers as quickly as possible. This supplier will contact these customers shortly after being appointed.

Original Story

The energy regulator, Ofgem, has issued a provisional order banning Economy Energy from taking on any new customers.

The Coventry based energy has also been banned from increasing existing customers' direct debits or asking for any one-off payments until the issues are resolved.

Before the ban can be lifted, Economy Energy must meet the following requirements:

1. Improve and expand its customer contact procedures via email and web chat
2. Address its billing and payment failures
3. Issue customer refunds in a timely manner

The ban is initially in place for up to three months to allow Economy Energy to take steps to improve their customer service issues.

If Ofgem does not see any evidence that Economy Energy has attempted to make improvements within three months, they can extend the ban.

If Economy Energy fails to improve Ofgem can take steps to revoke its supply licence.

Anthony Pygram, director of conduct and enforcement, said:

"Ofgem is taking action to protect customers from suffering more harm from the unacceptable level of customer service provided by Economy Energy. We expect the supplier to take immediate action to rectify its failings or face having its ban extended.

"All suppliers are required to treat their customers fairly. Where they do not, Ofgem will take the necessary steps to ensure suppliers change their behaviour and to prevent further harm to customers."

Posted on January 4, 2019 at 08:53 AM