Snowdrop Energy is selling all its customers to a Sheffield-based supplier “due to increased wholesale prices”.
Nabuh Energy said all existing Snowdrop customers – believed to total 6,000 – will have their supply continue as normal and their credit balance will be safe.
The switch is expected to be completed by 2nd November 2018, following which customers can move to a different supplier without having to pay any exit fees.
A spokesperson from Ofgem said: “We are aware of the purchase of Snowdrop Energy’s customers by Nabuh Energy. Ofgem scrutinises any commercial transfer of customers to ensure that the deal does not cause detriment to the customers, including by ensuring credit balances will be honoured.
“If we were not convinced the deal is in customers’ best interest, we would intervene to prevent the sale.”
Non commodity costs will be discussed by SSE Business Energy at Energy Live Expo on 31st October, with Energy Minister Claire Perry headlining the event. To book your place (free if you are an end user), you can send an e-mail to [email protected].