400,000 homes affected by the collapse of two suppliers

Last week news broke that Green Network Energy and Simplicity Energy both folded, leaving more than 400,000 customers in the lurch.

They are the two latest suppliers to buckle in the current climate. Loss-making introductory tariffs might be great for luring customers in, but they often prove unsustainable.

What’s next for the customers affected?

Current customers of both companies have been advised by Ofgem to stay put for now – the watchdog will oversee the transition from one supplier to the next. And importantly, all customers can rest assured that their energy will carry on running as normal.

This temporary solution is still far from ideal, with many people worrying about their outstanding credit balances, who their next supplier will be, and how long the whole process will take.