Ofgem protects customers of failed suppliers PfP Energy and MoneyPlus Energy
Press release
- Publication date
- Industry sector
- Supply and Retail Market
Two energy suppliers, PfP Energy and MoneyPlus Energy, have announced today that they are ceasing to trade. PfP Energy supplies gas and electricity to around 80,000 domestic customers, and 5,000 non-domestic customers. MoneyPlus Energy supplies gas and electricity to around 9,000 domestic customers.
Under Ofgem’s safety net, the energy supply of PfP Energy’s and MoneyPlus Energy’s customers will continue and outstanding credit balances of domestic customers will be protected.
Customers of PfP Energy and MoneyPlus Energy will be contacted by their new supplier, which will be chosen by Ofgem.
Ofgem’s advice to PfP Energy’s and MoneyPlus Energy’s customers in the meantime is to:
- Not switch to another energy supplier until a new one has been appointed and you have been contacted by them in the following weeks.
- Take a meter reading ready for when your new supplier contacts you.
This will make the process of transferring customers over to the chosen supplier, and paying back any outstanding credit balances, as smooth as possible.
Neil Lawrence, Director of Retail at Ofgem, said:
“Although the news that a supplier going out of business can be unsettling, PFP Energy and MoneyPlus Energy customers do not need to worry. Under our safety net we’ll make sure your energy supplies continue. If you are a domestic customer with credit on your PFP or MoneyPlus account this is protected and you will not lose the money that is owed to you.
“Ofgem will choose a new supplier for you and while 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.”
Updates are available from our website or through our twitter feed @ofgem.
Customers who have questions should visit the FAQs on our website. Or if they need additional support, call Citizens Advice on 03454 04 05 06 or email them via their webform. Advice will also be shared on Ofgem’s twitter @ofgem and facebook channels.
Notes to editors
- PfP Energy and MoneyPlus Energy customers should take meter readings today and wait until their new supplier contacts them. Once they have been contacted, customers can ask to be put on their new supplier’s cheapest deal or shop around for a better deal from another supplier. They will not be charged exit fees for switching away from their new supplier.
- Ofgem's safety net will make sure customers will always have an energy supply, domestic customers’ credit balances are protected and that the process in moving over to the appointed supplier is as smooth and hassle free as possible.
General enquiries (non-media)
If you are an energy customer looking for help and advice, including complaints about energy firms, please see our Household gas and electricity guide. Citizens Advice also provide a free, impartial helpline service across a range of issues on 0808 223 1133.
We also regularly share news and post general advice to help consumers get the most out of their energy services via our @Ofgem twitter and Facebook pages. If you have an enquiry or complaint relating to Ofgem’s policies or functions, contact us at consumeraffairs@ofgem.gov.uk or on 020 7901 7295.
For all other non-media related enquiries, please visit our contact us page.
About Ofgem
Ofgem is Britain’s independent energy regulator. Our role is to protect consumers now and in the future by working to deliver a greener, fairer energy system. We do this by:
- Working with Government, industry and consumer groups to deliver a net zero economy at the lowest cost to consumers.
- Stamping out sharp and bad practice, ensuring fair treatment for all consumers, especially the vulnerable.
- Enabling competition and innovation, which drives down prices and results in new products and services for consumers.
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