Ofgem protects Iresa customers' supplies and credit balances
Press release
- Publication date
- Industry sector
- Supply and Retail Market
Iresa, an energy supplier with less than 100,000 domestic customers, has ceased trading.
The energy supply of Iresa customers will continue as normal, and their outstanding credit balances protected under Ofgem’s safety net.
Ofgem will choose a new supplier to take on Iresa’s customers. This supplier will contact these customers individually when this process is complete.
Our advice to Iresa customers in the meantime is:
- Don’t switch supplier.
- Do sit tight, take a meter reading and wait until your new supplier contacts you.
This will make the process of handing Iresa’s customers over to a new supplier, and paying back their outstanding credit balances, as hassle free for these customers as possible.
Rob Salter-Church, Ofgem’s interim executive director for consumers and markets, said:
“If you are an Iresa customer there is no need to worry as we will make sure your energy supplies are secure and your credit balance is protected.
“Ofgem is working to choose a new supplier as quickly as possible for you. Whilst we’re doing this our advice is to ‘sit tight’ and don’t switch. Your energy supply will not be affected and will continue as normal – the thing that will change is that your energy will come from a new supplier.”
Updates are available from our website www.ofgem.gov.uk or through our twitter feed @ofgem.
Customers who have questions should visit the FAQs on our website at www.ofgem.gov.uk/ofgem-safety-net. Or if they need additional support, call Citizens Advice on 03454 04 05 06 or email them via their webform. Alternatively, get in touch through Ofgem’s facebook or twitter feed @ofgem.
Notes to editors
- Iresa’s customers should take meter readings today and wait until their new supplier contacts them and tells them what to do about any credit balances. Once they’ve been contacted, customers should ask to be put on the cheapest deal or shop around for a cheaper supplier. They won’t be charged exit fees for switching away from their new supplier.
- More advice and support for customers can be found on the Ofgem Safety Net.
Further information
For media, contact:
Chris Lock: 0207 901 7225
Media out of hours mobile: 07766 511470 (media calls only)
For investors, contact:
Martin Young: 0207 901 7114
About Ofgem
Ofgem is the independent energy regulator for Great Britain. Its priority is to make a positive difference for consumers by promoting competition in the energy markets and regulating networks.
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