Bizz Energy goes into administration

mattBusiness Electricity

Another of Britain’s leading independent energy suppliers has gone out of business due to rising wholesale costs in the electricity market.

The Worcester based energy supplier has fallen into administrative receivership after struggling to refinance debts. BizzEnergy is the latest victim of rising wholesale energy costs, and is a huge blow to the independent sector, which saw E4B go bust two weeks ago.

Update: 11th November 2008 From British Gas Business (BGB) has acquired BizzEnergy’s 40,000 customer sites. This transaction completed just before midnight on 31st October 2008.

BizzEnergy’s customers’ contracts have automatically been transferred to BGB under their existing terms and conditions. All BizzEnergy’s customer contract data is now in BGB’s system. Shortly BGB will be sending a letter to all BizzEnergy’s customers explaining that they have bought BizzEnergy’s customer portfolio and that they will be honouring all BizzEnergy contracts but that BGB now owns them.

BizzEnergy customers do not need to do anything. If you currently pay by direct debit you do not need to cancel your direct debit instruction. Charges for your final bill will be taken by BizzEnergy using your existing direct debit mandate.

BizzEnergy customers nearing the end of their contract can contact Utilities Savings for assistance in arranging a new contract for your supplies.