OneSelect collapse – what are your options?
Another small energy supplier has gone bust. OneSelect Energy is the eighth supplier to cease trading this year, and its collapse will affect around 36,000 households. If you’re a One Select customer, here’s what happens next.
Ofgem, the energy regulator, has apointed Together Energy to take on OneSelect customers, effective from Friday, December 14.
What happens to your energy contract now?
Your energy contract has now been taken over by Together Energy, who will be in touch with all the details of your new contract.
If you've not already done so, make a note of your latest gas and electricity meter readings, ready for when your new supplier contacts you.
If you haven't heard from Together Energy within the next few days, give their customer contact team a call on 0333 1501699.
What energy contract will you be switched to?
Together Energy has taken over your contract and you will now be on a deemed tariff - this type of tariff typically come with expensive rates, so we recommend you compare deals and switch supplier as soon as possible.
You'll not be charged an early exit fee for switching from this deal, even if your conbtratc with OneSelect had a penalty charge.
To start an energy comparison, simply enter your postcode in the box at the top of the page.
What if you were in credit with One Select Energy?
If you are in credit when your supplier goes bust, Ofgem says your new supplier should pay back any outstanding credit – Together Energy will honour outstanding credit balances for both current and past customers of OneSelect who are still owed money.
This shouldn’t affect when you can switch supplier, and Together Energy should still honour your refund even if you switch before it is paid, but make sure you clarify this before you switch.
The review process may take a few weeks as Together Energy will need to receive and review records from One Select. The money you are owed will be calculated by One Select’s administrators, and any unbilled charges for your supply by One Select will be deducted.
What if you owed money to One Select?
OneSelect’s administrators or Together Energy will be in contact with you to discuss repayment arrangements if you were paying debt back to OneSelect and have since switched.
If you had a Direct Debit set up with One Select, this will automatically be moved to your new supplier. If you cancelled your direct debit when you heard One Select was going bust, your new supplier will be in touch to help you set up a new account.
What if you were already switching from One Select?
If you were already in the process of switching from OneSelect when it went bust, your switch will go through as normal.
If you have recently switched from OneSelect, you may still be contacted by Together Energy, but you can disregard any correspondence. When Iresa went bust, a glitch in the system meant some customers who left months before the collapse were still contacted and told they’d be switched to Octopus. So please do be patient.
Why did One Select go bust?
One Select is the eighth small energy supplier to go under this year, the following having all gone under since January:
- Future Energy (January)
- National Gas and Power (July)
- Iresa (July)
- Gen4U (September)
- Usio Energy (October)
- Extra Enegry (November)
- Spark Enerby (November)
As yet, it’s unclear exactly why this supplier has ceased trading, but it has just bottom in the latest Citizens Advice’s star rating, which ranks the customer service levels of energy suppliers.
The ratings look at a range of measures including complaints levels, call waiting times, the timeliness and accuracy of billing and whether switches take place on time. It includes 34 firms (serving around 99% of the market), and One Select averaged just 1.3 stars out of five across these categories.
As we said after the Spark Energy collapse, don’t let this news put you off choosing a smaller supplier, but make sure you choose carefully – although cutting costs will almost always be the biggest incentive to switch, cheapest isn’t always best.
What if my energy supplier goes bust?
It’s not often that an energy supplier will go bust, but it can happen - this video shows what you need to do if your supplier suddenly stops trading
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.