Customers of Future Energy, the small energy supplier which stopped trading last week, are to be taken on by Green Star Energy, the energy regulator announced today.
Ofgem said Future Energy's 10,000 domestic customers, based mainly in the North East and Yorkshire, will be moved to the new firm from Wednesday (31 January). Customers' energy supplies will continue as normal under Ofgem's safety-net rules, and outstanding credit balances will be protected.
Who are Green Star Energy?
Green Star Energy is a small supplier founded in 2013. At the time of our April 2017 collective switch, in which it offered a one-year fixed tariff, it had more than 200,000 customers. It's owned by Canadian energy giant Just Energy, which has more than two million customers across North America.
I'm a Future Energy customer – what do I need to do?
For now, you just need to cancel your direct debit. Green Star Energy will be in touch by Tuesday 6 February with more information, including how to set up a new direct debit.
Green Star Energy will charge you the same price as you were paying before – whether you're on a fixed or variable tariff – until 30 September 2018. However, after that it's likely you'll be moved onto a different Green Star Energy tariff – so if you're on a fix with Future Energy now, the price you're fixed at may NOT be honoured for the duration of the fix.
Make sure you do a full comparison on our Cheap Energy Club to find the cheapest tariff for you. Ideally you should do this as soon as you can after being moved over, to check you're not overpaying. Ofgem says you WON'T be charged any exit fees to switch away before 1 October 2018, but it's advising you to wait until Green Star Energy contacts you before trying to do this.
I was in credit with Future Energy – how do I get this back?
Green Star Energy will honour any credit balances.
If you're a Future Energy customer the credit can be used to reduce future bills from Green Star Energy, but if you were previously a customer and think you are owed credit you can contact Green Star Energy on 0800 029 1560 or email email@example.com to ask for a refund.
I'm paying back debt to Future Energy – what does this mean for me?
If you owed cash to Future Energy you will be contacted by its administrator, which will ask about repayment arrangements.
Green Star Energy will not ask you for this money.
I'm already in the process of switching away from Future Energy. Will this go through?
Yes – if you have a switch in progress, you'll continue to be moved to the new supplier of your choice.
What does Ofgem say?
Neil Barnes, Ofgem's associate partner for consumers and competition, said: "We are very pleased to have been able to secure a deal with Green Star Energy, where Future Energy customers will continue paying the same price for their energy as they were before. And their credit balances will be honoured.
"Our advice for customers of Future Energy is to wait until Green Star Energy contacts you. They will give you more information about the tariff you are on, and about your credit balance. Then you can shop around for a better deal if you wish to."