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Businesses face energy switch as supplier folds
Monday, October 27, 2008
ALMOST 3,500 small businesses across Scotland face having their utility bills switched to a "supplier of last resort" after Electricity4Business was placed in administration, writes Hamish Rutherford.
Milton Keynes-based Electricity4Business had around 140 staff, supplying electricity to 40,000 small and medium-sized businesses across the UK. Administrators PricewaterhouseCoopers said the company had run into trouble "as a result of volatility in the energy market".
Ofgem, the energy regulator, has guaranteed that none of the businesses will face disconnection because of a supplier being placed in administration, with all customers transferred to a "supplier of last resort"
While there is no guarantee the firms will not face higher emergency tariffs under the scheme, all of the companies are free to change suppliers.
Energy broker Make It Cheaper advised the affected customers to take a meter reading, cancel direct debit payments and use an independent broker to explain which supplier can offer them the most favourable rates.
Earlier this year Electricity4Business warned that the proposed takeover of nuclear operator British Energy by EDF would cause competition in the UK electricity market to be reduced.
This story was featured on the Scotsman Website
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