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Accidentally signed up to 2 business electricity contracts - Help!

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  • MWT
    MWT Posts: 10,284 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    edited 2 May 2024 at 6:50PM
    I did so, naively assuming that because the broker I'd previously signed with in 2022 had gone into administration, thinking my renewal dates had gone 'back on the market'. I didn't want to leave it until the last minute to get a new contract, so I signed up.
    Going into administration does not automatically equal 'gone bust' or 'ceased trading', often a company will continue to trade normally and after a period of administration continue under new ownership.
    Even when a company does cease trading and is closed down, you may find that assets such as contracts are sold on to a 3rd party, so never assume that your contract has been terminated without getting confirmation of that fact.

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