Centrica PLC British Gas to supply customers of People's Energy (2258M)
September 20 2021 - 6:29AM
UK Regulatory
TIDMCNA
RNS Number : 2258M
Centrica PLC
20 September 2021
20 September 2021
British Gas to supply customers of People's Energy
British Gas has agreed to take on the customers of People's
Energy and will ensure that they continue to receive an
uninterrupted supply of gas and electricity after the supplier
ceased trading on 14 September 2021. People's Energy serves around
350,000 domestic customers and around 500 business customers.
This switchover is part of Ofgem's Supplier of Last Resort
(SOLR) process. In line with the regulatory framework for the SOLR
process, it has been agreed that all costs incurred by British Gas
that it is not able to recover as a result of taking on the
customers, including additional costs of buying energy, the refund
of credit balances, and other operating costs, will be recoverable
through the established industry levy in a timely manner. British
Gas will do everything it can to minimise those costs.
Chris O'Shea, Centrica Group Chief Executive:
"We welcome People's Energy customers to British Gas and we'll
ensure the switchover is as smooth as possible. We're a brand
trusted by millions and we'll be working hard to gain the trust of
our new customers too - so that they not only join but choose to
stay with us. Benefitting from the range of advantages that come
with being a British Gas customer they'll have 100% zero carbon
electricity and access to exclusive offers on services like boiler
cover, Hive products and British Gas rewards.
The actions we have taken over the past couple of years mean
Centrica is in a robust financial position, and, as a responsible
energy supplier built on a sustainable model, we are well hedged
for the coming winter. We have now taken on the customers of four
failed energy suppliers through Ofgem's Supplier of Last Resort
process in 2021."
In the coming weeks, we will be in touch with People's Energy
customers on the process of moving over. Customers will need to
take a meter reading and provide this to British Gas when prompted
to make sure they are billed accurately. We will take care of
everything else and will be on hand to help with any questions.
ENDS
Enquiries:
Investors and Analysts
T: 01753 494900
E: IR@centrica.com
Media
T: 01784 843000
E: media@centrica.com
NOTES
-- As part of Ofgem's Supplier of Last Resort process, domestic
customers' credit balances are protected and customers will receive
an uninterrupted supply of energy. Ofgem encourage customers not to
switch until they are set up with their new supplier.
-- People's Energy is the fourth customer base that British Gas
has taken on via Ofgem's Supplier of Last Resort process this year,
after Simplicity Energy, PfP Energy and MoneyPlus Energy.
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END
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