OVO Energy to absorb Economy Energy’s customer base

Energy regulator Ofgem has appointed the supplier to take on the failed business’ customers

OVO Energy

OVO Energy has been appointed to take on Economy Energy’s customer base.

Energy regulator Ofgem has selected the firm to supply services to the failed supplier’s 235,000 customers after earlier this week Economy Energy became the ninth UK energy company to go bust in the last 12 months.

OVO Energy’s retail customer base now numbers around 1.5 million contracts.

It says it will honour all outstanding credit balances including refunds due to customers who have left Economy Energy and says affected consumers will receive an uninterrupted energy supply as they transition to its systems.

An OVO Energy spokesperson said: “This is a good outcome for Economy Energy customers who have had an uncertain few weeks. We are very pleased to welcome these customers to OVO.

“If you are an Economy Energy customer, please wait for us to contact you once your new account has been set up.”

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