This is a very unfortunate situation for E4B's 40,000 customers. They will not be disconnected, but the supplier of last resort process will mean that they will be transferred to a supplier nominated by OFGEM and they will almost certainly be put onto tariffs that are much higher than their current contract price.
Bournemouth, Dorset (PRWEB) October 24, 2008
Electricity 4 Business (E4B) was placed into administration on Wednesday 22nd October 2008.
Electricity 4 Business (E4B) customers need to review their options now and agree a new fixed price energy contract at the earliest possible opportunity to avoid the potential of being put on higher out of contract rates with a default supplier nominated by the UK's gas and electricity regulator OFGEM.
Julian Morgan, Commercial Director at the UK's leading business electricity price comparison service Energy Advice Line comments "This is a very unfortunate situation for E4B's 40,000 customers. They will not be disconnected, but the supplier of last resort process will mean that they will be transferred to a supplier nominated by OFGEM and they will almost certainly be put onto tariffs that are much higher than their current contract price."
The last resort procedure adopted by OFGEM ensures that the customer's supply is not disrupted but it does not necessarily protect their right to the most competitive price on the market.
Current E4B customers are they now free agents as their contract ends as soon as the supplier is placed into administration but they need to review their options as quickly as possible before agreeing to new fixed term contract in a market that has experienced high levels of volatility.
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Julian Morgan continues "The Energy Advice Line compare prices from the UK's leading business electricity suppliers and our expert advisors are available to help customers make the right choice by not just providing the best prices available but also a bite sized view the contract small print. This coupled with good impartial advice - Guaranteed - really makes a difference in unfortunate circumstances such as these."
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