Commenting on the news that Brilliant Energy has ceased trading, Rik Smith, energy expert at uSwitch.com, said:
“Conditions over the last 12 months have been tough for energy suppliers large and small, causing ten to cease trading. However, with wholesale prices on their way back down again, many will be forgiven for thinking we’d seen the end of smaller suppliers struggling to the point of collapse.
“It’s right that Ofgem is reviewing the checks and balances for new suppliers entering the market. In addition, the regulator should also tighten up the Supplier of Last Resort processes to ensure a smooth transfer between suppliers for every customer, and also look at what can be done to prevent suppliers from falling into avoidable difficulties.
“The advice remains the same for Brilliant Energy’s customers – sit tight and Ofgem will appoint a Supplier of Last Resort. Take a meter reading now, and keep paying your bill as usual. Any outstanding credit you have will be protected and you can switch to a new energy company if you wish once your new supplier has been in touch with details of the tariff they are offering you.”
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