Switching to a Supplier of Last Resort
When a Supplier fails, it appoints a Supplier of Last Resort (SOLR) to take over its customers. This includes premises owned by one or more Customers. The SOLR is appointed to ensure that a Customer receives adequate service. If a supplier resigns, the SOLR is appointed to manage its accounts. The SOLR process can take a few weeks.
The process of switching to a supplier of last resort
is governed by the regulator Ofgem and ensures that customers are not disconnected when their existing supplier fails. Nevertheless, it cannot always be used, as there are often exit charges. It is, therefore, crucial to shop around for prices before deciding on a new provider. The SOLRT has been implemented in most countries, though the process is not effective in all cases.
If you have a choice of a supplier
you can ask your energy supplier to appoint a new one. The new provider will then become your Appointed Supplier and contact affected customers. If you have any queries, you can also contact the new provider directly. But, if your previous supplier ceased trading, you can always ask them to match your existing tariff. If the supplier of last resort fails, the next company in line will charge you more.
During a transition period
you can ask the supplier of last resort to switch your account to a supplier of last resort. They should make sure the credit balances from the previous supplier are transferred to the new account. You should compare prices and negotiate with your new energy provider. In case your existing supplier fails to meet your requirements, the new provider may offer you a fixed tariff instead. The only disadvantage is that there is a chance that you will be charged exit fees if you decide to switch away from the fixed tariff.
The Supplier of Last Resort
is the supplier that has been appointed to provide services for a specific customer. It has no choice but to appoint another supplier to provide your services. The new supplier will contact you with all the necessary information. You can also ask them questions via their website. Appointing a supplier should solve all your problems if you have a question about their business. They will be more than happy to help.
The Supplier of Last Resort
is appointed to take on the affected customer’s contract. This supplier will only be able to charge you for services that are not offered by the former supplier. You must check the terms and conditions of the new service provider and make the best decision. If your current supplier refuses to transfer your account, you can ask them to give you a new one. But if your former supplier refuses to do so, it will still be a good idea to switch elsewhere.