Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether any of the energy suppliers who exited the market over the last twelve months had protected customer credit balances.
Ofgem’s powers provide a safety net when suppliers fail, ensuring customers are seamlessly transferred to a new energy supplier.
Any customers going through Supplier of Last Resort process will not go off supply and in every case will have their credit balances protected.
Suppliers are not currently required by Ofgem to ring-fence customer credit balances, but Ofgem has consulted on implementing a ring-fencing obligation.