Bright Energy, who only began supplying electricity in November 2020, have confirmed they are to leave the Northern Ireland energy market. They blame rising wholesale as the reason for making the business no longer a viable option.
What has happened?
In December 2021, Bright informed the Utility Regulator and customers that it planned to leave the Northern Ireland electricity market. Since then, Bright has been working to make sure that there is an orderly transfer of their customers to another electricity supplier
I’m a Bright customer – what will happen?
Bright customers will be automatically transferred to Power NI on 13th February 2022
Regardless of how a customer pays for electricity, they will automatically transfer to Power NI. This will ensure there is no interruption to your electricity supply. Power NI will contact customers from 13 February with more information including details on their tariffs and how to set-up a payment method.
What is Supplier of Last Resort (SoLR)
When a supplier leaves the market, there is a regulatory process in place to ensure customers are protected and do not lose supply. This process is called the Supplier of Last Resort, which ensures that no customers are left without supply due to their supplier exiting the market.
Will my electricity price change?
All bill pay customers with Bright will be transferred to Power NI’s standard tariff rate effective from 13 February 2022. If you pay by Direct Debit, you will need to set-up a new Direct Debit with Power NI as Bright have not transferred your bank details to them. Within the welcome pack, you’ll find details on setting up Direct Debit payments and the discount payment schemes that Power NI offer
Keypad customers will be transferred to Power NI’s keypad tariff, effective from when you next top up from 13 February 2022. If you have a pay as you go meter, your current credit will remain on the meter.
Can I switch supplier and leave Power NI?
Yes. However, there is a 20 working day lock-in period for electricity and after that you are free to switch energy suppliers straight away, without incurring any exit fee or other types of fees. The 20 day period is to make sure customers’ supply goes uninterrupted and that the new supplier can effectively manage the supply to new customers and facilitate the issuing of bills.
Looking for a new electricity supplier?
With Bright Energy’s exit, you may be wondering many what other options you have. However, there are still five electricity suppliers to choose from and a difference of £350 between the most expensive and most competitive electricity deal. So, it pays to switch and save.
It’s quick and easy to find the cheapest deals on the market with powertoswitch.co.uk