Commenting on the news that Gnergy has ceased trading, Rik Smith, energy expert at Uswitch.com, said:
“Gnergy has been in a precarious position for a while, and was previously issued with a notice from Ofgem after it failed to show it had sourced enough energy from renewable sources. So its exit from the market is not a surprise.
“It’s unlikely that the current situation with the Coronavirus will have played a part in Gnergy’s demise. While it’s always a difficult time for the employees of any energy company when it exits the market, this is a particularly hard blow for Gnergy’s team given the current economic situation.
“Ofgem will now begin choosing a new supplier for Gnergy’s 9,000 customers, who should wait to find out who that is before they try to switch to another provider. Their supplies will continue as normal and their credit balances will be protected.
“Customers potentially face being moved from a small energy provider to a much larger one, and will want to be reassured that they are getting good value for money and excellent service whoever the new supplier is.
“We urge Gnergy customers to take a meter reading as soon as they are contacted by the new supplier so they can tie up loose ends and start afresh.
“Once customers have been moved over, we recommend they do a price comparison to see if switching to another supplier will offer better value for money. They will not be charged exit fees for moving to another supplier.”