Ofgem has appointed EDF to take on the 220,000 customers of Utility Point, which exited the market earlier this week.
The regulator said EDF had been chosen following a competitive process. A parallel supplier of last resort (SOLR) scheme continues for the 350,000 customers of People’s Energy’s, which exited at the same time as Utility Point.
Ofgem said EDF was offering customers a “competitive tariff”, with outstanding credit balances, including money owed to both existing and former customers of Utility Point to be honoured.
Neil Lawrence, Ofgem’s director of retail, said: “I am pleased to announce we have appointed EDF as the new supplier for customers after Utility Point entered insolvency. We understand that this news may be unsettling for customers, however they do not need to worry. Their energy supply will continue as normal, and all customer credit balances held on their accounts will be protected by EDF.”
Read Utility Week‘s analysis on the turbulent state of the energy retail market here.