Commenting on the news that gas-only supplier Cardiff Energy has ceased trading, uSwitch.com Head of Regulation Richard Neudegg said:
“Cardiff Energy is – unfortunately – the 13th supplier in the last year to go bust. However, customers will be fully protected thanks to Ofgem’s safety net.
“The most important thing they can do now is to take a meter reading and, once their new supplier SSE has contacted them to let them know which tariff they will be placed on, check to see if they could be on a better deal elsewhere. Any households who choose to will be able to switch away without paying exit fees.
“Competition in the energy market has brought huge benefits for consumers. However, Ofgem now needs to set out how it intends to strengthen the controls for existing energy companies to ensure consumer confidence in the market is maintained.”
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