Inexperienced Community Power and Simplicity Power Cease Performing – What You Must Know
Energy loans are protected so you won't lose any money owed
You can owe money from Green Network Energy or Simplicity Energy if your account has accumulated funds.
According to Ofgem, the suppliers he appoints will pay you back the money you owe. This also applies if you recently left one of the companies but have not yet received any money back.
If you owe money to either company, you will likely still have to pay it, although it is currently unclear whether this is due to your new company or the administrators, if and when they are appointed. The process for this should become clearer once Ofgem appoints new suppliers.
You don't have to cancel your direct debit
According to Ofgem, your new supplier will be in touch shortly to explain how this will affect your account, including any direct debit arrangements, so you don't have to cancel your direct debit immediately. At this point, the supervisory authority will also tell you exactly what will happen to your credit.
You can cancel your direct debit before the new supplier contacts you if you wish. If you've already canceled there is no need to restore it and your new supplier will explain what to do as soon as they get in touch with you.
If you have started a change to or from the company, this should still be carried out
If you have already started switching from Green Network Energy or Simplicity Energy, you will continue to be transferred to the new supplier you have selected. You shouldn't have to do anything. Your current direct debit should be automatically canceled. However, please check them out and manually cancel after your switch is complete.
If you are in the process of switching to Green Network Energy or Simplicity Energy, the switch should also complete as planned, although you end up switching to the supplier that Ofgem will appoint to take over.
What are the companies saying?
Both companies posted very similar statements on their websites of "stop trading" and "customers needn't worry, their shipments are safe and domestic funds are protected".
Neither the companies nor Ofgem explained why they stopped trading. We have asked Ofgem for more information and will update this story as soon as we hear about it.
Philippa Pickford, Director Retail at Ofgem, said, "Green Network Energy and Simplicity Energy customers needn't worry as we make sure, under our safety net, that their energy supply is secure and domestic customer balances are protected.
"Ofgem will now select a new supplier for you. While we are doing this, we recommend waiting until we appoint a new supplier and not switching in the meantime. You can rely on your energy supply as usual. We will be you Update when we have selected a new supplier who will then contact you with your new tariff. "