Our Power ceases trading
Commenting on the news that energy supplier Our Power has ceased trading, Uswitch.com energy expert Rik Smith said:
“While Our Power had laudable aims, the retail energy market is the same whether you’re a private sector company or a not-for-profit organisation.
“Ultimately, all energy suppliers need to be able to finance their operations, have efficient and accurate processes for billing and payments, provide strong customer service, and meet any financial obligations they have.
“Conditions are tough in the energy market at the moment, particularly for smaller players who may not have long-term backing. Thanks to Ofgem’s safety net, however, Our Power customers will be protected. The advice is to take a meter reading, wait until you’re informed who your new energy supplier is and what tariff they’re offering you. At that point you should shop around to see if there is another deal you prefer.”
Table 1: Energy suppliers exiting the market since 2016
Source: Uswitch.com correct as of 25 January 2019
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