Electricity supplier Iresa just went bust.

[Fecn]

Hi Folks,

I was just submitting my meter readings to Iresa (the cheapest supplier around, with the worst customer service ever) and discovered that they ceased trading 4 hours ago. Although their customer service was terrible I couldn't argue with their electricity pricing.. It was costing me 9.81p/kwH last year and 11.29p/kwH this last year.

Figured I should let the forum know as the advice from Ofgem is to take meter readings today and wait for a new supplier to get in touch.

Of course, the obvious follow-on question to this is... What's the next cheapest electricity supplier around?

Cheers!!

 

[Regulo]

Probably the next one to go bust! Close call, I was tempted to go for them last October, but was put off by some reviews of their customer service. What an almighty pain all this privatisation is causing. It's surely brought down the prices, but is it really worth all the hassle?

 

[user 816]

I was with GBEnergy when it went bust. It was of little consequence. The regulator has powers and appointed another company (The COOP in this case) to take it under its wing, its still going now as a sub brand of COOP. It all happened pretty quick and things continued.
They even offered some pretty good rates for a while (better than they gave their own COOP customers), probably in the hope of keeping some customers instead of them all jumping ship - I stayed on for the good rates!

Currently with Avro on fixed at 10.9p but they are higher now.

My advice is don't panic, cancelling direct debits actually causes more problems. Sit tight and wait for the regulator to act, you may end with good deal. Also switching is really difficult whilst their staff are all sent home and get a torrent of switching panic. Wait until its settled or an attempt at a switch could go horribly wrong.