In the last month, nine energy firms have collapsed due to increasing gas prices.
Now Martin Lewis has revealed how much your energy bill could go up by if your supplier goes bust.
The Money Saving Expert spoke after six other energy firms all collapsed last month.
PfP Energy and MoneyPlus Energy ceased trading on September 7, followed by Utility Point and People's Energy on September 14.
Meanwhile, Green and Avro Energy were the next to go under, both collapsing on September 22.
When your energy supplier goes bust, the regulator Ofgem will assign you to a new provider.
Then you will be moved under a new tariff, but this could mean your bills will increase.
Now Martin has rounded up how much your bills could go up by:
- Was: Avro Energy (£870 – £1,040)
- Now: Octopus Energy 'Flexible Octopus' (£1,266)
- Was: Green (£810 – £1,290)
- Now : Shell Energy 'Flexible 6' (£1,277)
- Was: People's Energy (£920 – £1,340)
- Now: British Gas 'The People's Tariff' (£1,277)
- Was: PFP Energy (£830 – £1,170)
- Now: British Gas 'Price Promise Apr 2022' (£1,277)
- Was: Utility Point (£830 – £1,120)
- Now: EDF Energy 'Welcome' (£1,277)
The MSE guru wasn't able to provide data for those being moved from MoneyPlus Energy, Igloo, Symbio or ENSTROGA.
From tomorrow (October 1), the energy price cap is increasing meaning a rise in energy bills for 15million households.
Those on default tariffs paying by direct debit will see an increase of £139 from £1,138 to £1,277.
If your energy firm goes bust, Ofgem should provide you with more information if your current supplier has gone under.
The general advice is to wait for your new supplier to message you with more details.
And if you're owed money from your old energy firm, your new supplier should pay you back.
Similarly, if you owe money, this will need to be paid back to your original energy firm, the administrator or to the new supplier.
Want all the biggest Lifestyle news straight to your inbox? Sign up for our free Daily Star Hot Topics newsletter
Source: Read Full Article