Customers of collapsed energy firm Iresa are to be switched to one of the highest rated challenger firms in the market, Ofgem has revealed. All 100,000 households will be switched over to Octopus Energy’s “Flexible Octopus” tariff, which, according to the regulator, is one of “the most competitive tariffs on the market and the best value deal on offer for them”. The energy provider, which prides itself as largely eco-friendly, was crowned Britain’s best provider for customer satisfaction earlier this year in a uSwitch report. Octopus beat the fat cats with a score of 96% just two years after launching in the UK and raking up more than 250,000 customers. It also topped tables in this year’s Citizens Advice supplier customer service league table with a 3.8 out of 5 star rating and is a Which? Recommended Provider for energy. What will happen during the switchover? Octopus Energy will honour all outstanding credit balances, including money owed to both current and past customers of Iresa. For current customers, any credit on their account can be used to offset future energy use. Octopus Energy will contact past customers directly about their refund. In the meantime, Ofgem advises customers to sit tight and take a meter reading. Customers of Iresa will be contacted by August 14 and then around a week later when the switch has been completed. Customers with direct debits should not cancel their arrangement. Direct debits will be transferred to Octopus Energy to start taking payments and the supplier… [Read full story]
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