GB Energy was a small gas and electricity supplier in the UK. In November 2016, the company announced that it would no longer be trading in energy, and all 160,000 of its customers would be moved to The Co-operative Energy.
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About GB Energy
The small energy supplier is based in Lancashire, England, and offers just two simple tariffs to both economy 7 and standard meter customers (four tariffs total).
Borne out of a Warm Home Front Scheme leads-generating business, GB Energy's managing director's career in the energy industry began in 2005.
Believing the company had what it takes to compete with the big six, it was in 2015 that it began offering gas and electricity plans to domestics energy customers.
The supplier's aim is to offer simplified options in a confused market, and not "punish" customers with early exit fees - even for its fixed rate plans.
GB Energy goes out of business
In November 2016, the small supplier stated that it was going out of business, just weeks after announcing it was raising prices for its 160,000 customers by 30%.
This would be the first time a domestic energy supplier went out of business in more than a decade. Within a few days, Ofgem announced that all GB Energy's customers would be moved to The Co-operative Energy — following protocol set in place for suppliers going out of business.
Recent price changes from GB Energy
In October 2016, GB Energy announced it had raised prices on its variable rate tariff by 30% — effectively a £240 increase on its customers.
This was the second price rise from the independent supplier in four months, prompting comment from uSwitch's Energy Expert Claire Osborne:
""This is an eye-wateringly large price hike for GB Energy’s standard variable rate customers, making this tariff almost as expensive as the average big six variable plan. The supplier has raised the price of this deal twice since July, meaning some customers will now be paying almost £300 a year more than they were just three months ago ... Rising wholesale prices are appearing to have a particular impact on medium and small suppliers, forcing many to also increase the cost of their cheapest deals."
GB Energy had fewer than 150 responses in uSwitch's independent YouGov survey, so we don't have a customer service rating. This is not necessarily an indication of poor performance.