With energy prices increasing and companies being pushed to the point of collapse, it is important to understand the process if an energy company does fold.
If your energy supplier does go bust, then Ofgem will find you an alternative provider (Supplier of Last Resort) at the earliest opportunity. Your supply will not be cut off, but you will not be able to choose your immediate new supplier.
You should take pictures of your energy readings as soon as you become aware of your supplier going bust. The new supplier should be in touch within a few weeks to set up your account, discuss any outstanding credit or debt, and ensure that costs are being paid for your energy usage. It is recommended that you do not switch suppliers until your Supplier of Last Resort has been in touch.
To avoid scams as much as possible, please check the Ofgem website (www.ofgem.gov.uk) where they will provide information on which Supplier of Last Resort has been chosen to take over from your previous supplier.
If you are concerned about being able to afford your energy bills there are a range of services and grants available to support you:
Welsh Government Financial Advice