Centrica PLC British Gas - Neon Reef and Social Energy
RNS Number : 1612T
22 November 2021
22 November 2021
British Gas to supply customers of Neon Reef and Social
British Gas will step in to protect the customers of Neon Reef
Limited (Neon Reef) and Social Energy Supply Ltd (Social Energy)
and will ensure they continue to receive an uninterrupted supply of
gas and electricity after the two suppliers ceased trading last
week. Neon Reef supplies around 30,000 domestic electricity
customers, and Social Energy supplies around 5,500 domestic
This switchover is part of Ofgem's Supplier of Last Resort
(SOLR) process. In line with the regulatory framework, it has been
agreed with Ofgem that relevant costs, including the costs of
buying energy incurred by British Gas that it is not able to
recover as a result of taking on the customers, will be recoverable
through the established industry levy in a timely manner. British
Gas will do everything it can to minimise those costs.
In the coming weeks, we will be in touch with Neon Reef and
Social Energy customers on the process of moving over. Customers
will need to take a meter reading where possible 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.
Chris O'Shea, Group Chief Executive, Centrica:
"We welcome customers of Neon Reef and Social Energy to British
Gas, and we'll ensure the switchover is as smooth as possible.
We're a brand trusted by millions and our new customers will
benefit from the range of advantages that come with being a British
Gas customer, including 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 winter. We have now taken on over 500,000 customers of failed
suppliers through Ofgem's Supplier of Last Resort process this year
and we'll continue to do what we can to help stabilise and support
the sector and work as part of wider industry efforts to drive
regulatory reforms which are urgently required."
-- Ofgem announced on 16 November 2021 that Neon Reef Limited
and Social Energy Supply Ltd had ceased to trade.
-- As part of Ofgem's Supplier of Last Resort process, customers
will receive an uninterrupted supply of energy and domestic
customers' credit balances are protected. Ofgem encourage customers
not to switch until they are set up with their new supplier.
-- Including Neon Reef and Social Energy, British Gas will have
taken on over 500,000 customers of eight failed suppliers through
Ofgem's Supplier of Last Resort process in 2021 to date - having
already stepped in for customers of Simplicity Energy, PfP Energy,
MoneyPlus Energy, People's Energy, Zebra Power Limited and
Bluegreen Energy Services Limited.
T: 01784 843000
T: 01753 494900
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