Economy Energy ceases trading

By Ombudsman Services | Jan 8, 2018

Economy Energy, an energy supplier with about 235,000 domestic customers, has ceased trading.

Energy regulator Ofgem made the announcement today (8 January).

Matthew Vickers, chief executive and chief ombudsman at Ombudsman Services, which operates the Energy Ombudsman scheme, said:

“Before today’s announcement, we had been seeking to work with the company in an effort to help improve its complaint handling and customer service.

“Similarly, we are keen to work with whichever supplier is appointed to take on Economy Energy’s customers, in order to find the best possible outcome for the many consumers who have a complaint about the failed company open with us.

“If you have been affected by the collapse of Economy Energy, we would echo Ofgem’s advice – namely to take a meter reading and sit tight while another supplier is appointed. Do not switch to another energy supplier.

“We recognise that the collapse of an energy supplier can be a difficult, uncertain and stressful experience for consumers. We appreciate your patience in this matter.”

Mr Vickers added that Ombudsman Services currently had 1,303 complaints about Economy Energy open for investigation, following a sharp increase in complaints in December.

If you have a complaint about Economy Energy open with us, please be advised that we will be in touch in due course with more information on next steps.