Last updated: 29 January 2021
In this guide:
Green Network Energy company profile
Has Green Network Energy ceased trading?
I’m a Green Network Energy customer – will I lose access to my supply?
What will happen next for Green Network Energy customers?
Green Network Energy was an Italian energy supplier that entered the UK market in 2015 with the same focus on renewable energy and customer service that had made it a popular consumer choice in its home country – and in the UK too as its market share increased during the latter half of 2019 and first half of 2020 when it had around 360,000 UK energy customers.
Yes. On 27 January 2021 both the company and Ofgem announced that the company is ceasing trading. This means that existing customers will be transferred to a new supplier – details below.
No. Industry regulator Ofgem serves as a safety net. When suppliers cease trading, as has happened in this case, Ofgem will appoint a new supplier to take over your account in the interim. The new provider will honour any outstanding credit balance you have, including advance payments, and your supply (gas and electric) won’t be cut off – you can continue to use energy as normal.
Ofgem will now trigger a process whereby other energy firms will be invited to bid to take over Green Network Energy’s customer base. Ofgem will then review the bids and appoint one company as its preferred supplier for your gas and electricity going forward.
Ofgem’s advice to Green Network Energy customers is simple: “Ofgem will now choose a new supplier for you and whilst we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime. You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your new tariff.”
Keep an eye on the news portal of Ofgem’s website for the latest updates. Once a decision has been made, you can then look out for a letter from your new supplier, which will give you details of what tariff you’ve been placed on.
In the meantime, take meter readings to hand over to your new supplier when it contacts you.
Ofgem’s recommendation is to wait until you’ve been switched to your new supplier’s energy tariff. Once that switch has been completed, you’ll be free to perform an energy comparison and switch to a more competitive tariff, whether with your new supplier or someone else.