The world of business is full of smart decision-making and problem-solving. So when a problem arises, like your business energy supplier goes bust, what is it that you should do? It is understandable that you may have been satisfied with their services, but as they’ve gone bust, it seems that as a business owner, you need to make some sound decisions.
Immediate aftermath:
Switching suppliers can take time, so you may be wondering what the immediate repercussions of your supplying company going down the drain is. Well, don’t worry, your electricity and gas won’t be cut off. You will still receive these resources even if your supplier company is no longer in business.
This is because your electricity and gas regulator will move you to a new supplier for the short term; this is often referred to as a “safety net.”The supplier is known as a supplier of last resort (Solr). This way, you can make your long-term supplier decision in peace with your energy regulator. Your energy regulator decides your new supplier and urges you not to switch immediately.
Your contract:
Your contract with your old supplier will now end, and any and all tariffs that were under that contract will no longer apply. Your new supplier will now put you on a special “deemed” contract. This implies a contract that you haven’t chosen yourself. Deemed contracts can cost so much electricity for business, and gas for business may end up costing more in the short term, but your energy regulator needs to find the best possible deal for you in these circumstances.
Accounts:
If you were in credit with your old supplier and now they have gone bust, don’t worry, your new supplier will pay back the good credit to your name. If you were in debt to your old supplier, then it is a bit tricky. The payment depends on whatever your new supplies have agreed upon with your old supplier. They might arrange to take on the debts to your old suppliers, hence you are still in debt to them, or they might not make this arrangement. It entirely depends on the arrangement between the new suppliers.
Complains and information:
If you made a complaint to your previous energy provider about a certain problem or annoyance with their work, you might be wondering if that complaint will now be transferred to your new supplier. Unfortunately, you will need to take it up with the new supplier and try to raise this issue with them so it gets solved for the benefit of all parties involved. You might still be in the dark about your new energy provider, and since that is important information, know that information about the energy provider is always written in your utility bills.
Be prepared:
While you are being switched to a new energy provider, it is a wise decision to do some groundwork. You should take meter readings, keep your old bills, and make notes of your account balance. These are good activities before you are in contact with your new supplier. In Pennsylvania, you can choose from various PA electricity suppliers that provide competitive rates and services.
All in all, it is understandable that once your business energy supplier company goes bust, you are in a confused and tense state. Businesses often face confusing times, so don’t worry and take this information into consideration!
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