When you work with an electricity broker, you rely on them to find you the best rates and plans available in the energy market. But what happens if that broker suddenly shuts down or goes out of business? It’s a common concern, especially for businesses and homeowners who have long-term contracts arranged by their broker. The good news is that your electricity won’t suddenly be turned off, and you still have protections in place.
What Is an Electricity Broker?
An electricity broker is a third-party agent who helps consumers, whether businesses or residential customers, shop for competitive electricity rates. Rather than being a supplier themselves, brokers work between you and electricity providers. Their goal is to negotiate better deals, simplify the buying process, and provide guidance throughout the contract term.
Brokers make it easier to choose an energy plan. A broker like Great Energy1 can help you save money and time. They compare prices, explain plans, and handle the paperwork.
Read More: Common Questions About Electricity Brokerage Answered
If Your Broker Goes Out of Business – What Changes?
If your broker goes out of business, don’t worry. Your electricity service will not stop. This is because your contract is with the energy supplier, not the broker.
The electricity will still come to your home or business. Your contract terms will still apply. This includes your price and contract length.
Even if the broker is gone, your deal with the energy company stays the same.
Who Handles Your Contract Now?
Your energy supplier will now contact you directly. Before, your broker did that. Now, you may get emails or letters from the supplier.
Make sure you keep a copy of your energy contract. Also, save any bills or emails. This will help you if you need support or want to switch brokers later.
Do You Need a New Broker?
You don’t have to use a new broker. But having one can be helpful. A broker gives you advice and tells you about better energy rates.
If your old broker is gone, you can choose a new one. A trusted broker like Great Energy1 can guide you. They can check your current contract and suggest better options.
A good broker supports you before and after the contract starts. Contact us today to get expert help and start saving on your energy bills.
Read More: Need help choosing the right broker?
How to Protect Yourself
You can take a few steps to stay safe:
- Keep all documents safe. This includes your contract and broker messages.
- Know who your electricity supplier is.
- Watch your energy bills. Make sure nothing changes.
- Pick a strong, trusted broker like Great Energy1.
Doing this will help you stay in control, even if your broker closes down.
Read More: The Role of an Electricity Broker in the Energy Market
Why Trust Great Energy1
Great Energy1 is a reliable electricity broker. They have been helping customers for years. They offer clear and honest service.
They do not disappear after the contract is signed. They help with renewals and answer your questions. They also keep you updated if prices change.
With Great Energy1, you are not alone. They make energy choices simple and stress-free.
Read More: Electricity Brokerage Cost Savings Case Studies
Final Thoughts
If your electricity broker closes their business, don’t panic. Your electricity will not stop. Your contract stays in place. You will deal directly with the energy company.
You can still choose a new broker if you want support. Pick a broker that is trusted and stable. A company like Great Energy1 can help you stay informed and protected.