HUB Energy ceases trading - advice to clients

Tritility
News
September 15, 2021
3
Min Read

HUB Energy (formerly Gulf Gas & Power) have announced today (9th August 2021) that they have ceased trading. Here's what you need to know.

Tritility works with a wide range of commercial energy suppliers (over 20 in total), to allow us to deliver great value to our clients. This includes suppliers from the 'Big Six' household suppliers (British Gas, Scottish Power, SSE etc) but also independent suppliers who are able to offer competitive products to our clients. We're always aware that when we recommend a supplier, we stake our reputation on our recommendation. Therefore, before we work with a supplier, we do thorough research to ensure the supplier shares our values, customer service ethos and service level, and that they have demonstrated financial stability.

Unfortunately, the past 18 months has placed unprecedented pressure on suppliers, with extreme market forces coming into play as a result of the COVID-19 pandemic. We are saddened to confirm that HUB energy (formerly Gulf Gas & Power) has today ceased trading.

We will be in contact with impacted clients.

We have a number of clients whose business we placed with HUB Energy/Gulf Gas & Power - we will be making contact with them over the next few days to discuss their options. If you're an existing client and are concerned about the collapse of HUB Energy/Gulf Gas & Power, you can call us on 0191 367 5000 (Mon-Fri 8:30am - 5:00pm).

No customers of HUB Energy are at risk of having their energy supply disconnected.

Under OFGEM's Supplier of Last Resort (SoLR) safety net, your account will be transferred to a new supplier over the coming weeks/months with no interruption to your supply.

HUB Energy fixed term contracts/rates will not be honoured.

Unfortunately, many clients fixed rates with HUB Energy last year when the market was very favourable. HUB Energy are unable to honour these contracts and it is extremely unlikely the new supplier appointed under OFGEM's SoLR scheme will be able to do the same.

We can help.

Whether or not you are an existing Tritility client, we encourage you to get in touch with us to discuss your options to avoid rolling on to expensive deemed/out of contract rates. You can call us on 0191 367 3676 (Mon-Fri 8:30am - 5:00pm) for no-obligation advice.