What now for customers as energy firm goes to wall?

SCOTTISH Power has been appointed by the regulator to take over the accounts of 74,000 Yorkshire Energy customers.

The energy regulator Ofgem made the announcement following the collapse of Yorkshire Energy last week. The small energy company is the latest supplier to announce ceasing trading, leaving Ofgem to step in with safety net procedures.

The Leeds-based energy company leaves 74,000 homes, as well as a small number of non-domestic customers, waiting for Ofgem to appoint a Supplier of Last Resort to take over their energy supply. Yorkshire Energy, also known as Daisy Energy, had only been trading for two and a half years and is the latest in a long line of small supplier collapses in recent years.

Here’s everything current and former Yorkshire energy customers need to know:

Power or Yorkshire Energy’s administrators in due course. Energy supply will continue as normal and customers of Yorkshire Energy can be expected to hear more about the changes over the coming days.

Should customers wish to switch supplier, they are advised to shop around to get the best price. However, domestic customers have been moved to Scottish Power following a ‘competitive process to get the best deal’ for them. Customers will not be charged exit fees if they decide to switch to another supplier.

Those who do wish to remain with Scottish Power, will be contacted to explain how to set up their account and direct debit in the next few days.

Ofgem’s director of future retail, Philippa Pickford, said: “I am pleased to announce we have appointed Scottish Power for the customers of Yorkshire Energy. Their energy supply will continue as normal and domestic customer credit balances will be honoured. Scottish Power will be in contact with customers over the coming days with further information. Once the transfer has been completed, customers can shop around.”