04 March 2021
It seems that every week for the past few months we hear of yet another energy supply that has closed. This news is different though. Firstly, CNG has been trading for 27 years. They had a good foothold in the market built on experience. Secondly, they predominantly supply business customers. This is the first energy company closure that had its portfolio mainly in the SME sector. The company sights the “Extremely High” wholesale energy prices as the main reason for its closure.
When an energy supplier enters administration, the process is the same. The customer supplies that they hold are automatically transferred to a new supplier. OFGEM initiate this process called “SoLR” (Supplier of Last Resort). OFGEM choose a supplier that will accommodate all of the customers from CNG. The customers involved will be placed on a new tariff with the new supplier. All customer account debts and credits are also transferred with the account so that customers are protected.
Unfortunately, for Bira members that are currently supplied by CNG, this will almost certainly mean an increase in cost.
How can Bira help?
We have a long-standing partnership with Utility Options who already look after some of our members that are with CNG. If you would like help, advice or a quotation regarding your gas supply with CNG, please do not hesitate to contact them on 0800 195 0123 or bira@utility-options.co.uk
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