Take screenshots of your energy account in case your provider goes bankrupt
In this week The Martin Lewis Money Show, which aired yesterday (September 23), Martin encouraged viewers to keep a weekly record of their energy account in case their supplier goes under. He said, “If you can, log on to your energy company’s website and take a screenshot of how much credit you have and what your bill is.
“The reason for this is that when a company goes bust, the website goes offline so you no longer have a record, and this could be difficult if you want to keep a record of your previous credit history. So take a screenshot; keep a record of it. “
Martin also warned viewers that the six utilities that went bankrupt this month – Avro Energy, Green, PFP Energy, MoneyPlus Energy, Utility Point, and People’s Energy – may not be the last. He said, “Some business experts have said that up to 25 other companies will go under, some of them with millions of customers.
“This is not about small companies, but also about medium-sized to large ones. There may only be 10 or fewer energy companies left if the wholesale gas price doesn’t go down soon. So get your screenshots and do it every week. We’re still in the middle of this crisis. “
If a supplier goes bankrupt and your account has built up, the Ofgem energy regulator will appoint a new supplier who will pay you back any monies you owe – even if you started switching before the company went down. The supplier commissioned by Ofgem should contact us here to agree on a refund – even for those who have not switched to it – but this can take a while.