Ofgem has appointed Co-operative Energy to take on GB Energy Supply’s customers after the new entrant collapsed.
GB Energy Supply blamed rising wholesale prices when it ceased trading.

The Co-operative Energy, which is owned by Warwick-based Midcounties Co-operative, will match customers’ current variable and fixed-deal tariffs and won’t charge an exit fee is clients want to switch.

A levy could be made on all energy suppliers to cover the cost of honouring credit balances, although Ofgem said it was unlikely the cost would be passed onto consumers.

Credit balances will be honoured

Rachel Fletcher, Ofgem’s Senior Partner for Consumers and Competition, said: “We are very pleased to have been able to secure a deal with Co-operative Energy, where GB Energy Supply customers will be paying the same price for their energy as they were before.

“Their credit balances will also be honoured.

“Co-operative Energy will be supporting GB Energy Supply’s customer contact centre, making sure that customers have a smooth transition to their new supplier.”

> Read Ofgem's announcement