Major energy supplier with 300,000 customers could be bought by EDF Energy – what it means for you

A MAJOR energy supplier could be bought by EDF Energy in a huge shake-up for its 300,000 customers. The energy giant is reportedly in talks to snap up smaller rival So Energy, weeks after its owner launched plans to sell the supplier. EDF if among the potential buyers discussing a deal for So Energy Credit: AFP So Energy has around 300,000 customers Credit: So Energy EDF is among the potential buyers discussing a deal for So Energy, according to Sky News. So Energy supplies gas and electricity to around 300,000 UK households. Sign up for the Money newsletter Thank you! The talks are understood to be ongoing, meaning there is no guarantee that EDF will ultimately buy the company. It comes after it was reported that So Energy’s majority owner, Ireland’s state-owned Electricity Supply Board (ESB), was exploring a sale. PricewaterhouseCoopers (PwC) is reported to have been brought in to oversee the process. ESB became So Energy’s majority shareholder in 2021 after merging its British residential energy business with the supplier. EDF Energy is one of Britain’s largest household energy suppliers and is owned by French state-controlled power group EDF. Buying So Energy would add hundreds of thousands of households to its customer base. Most read in Money However, EDF has not yet been confirmed as So Energy’s buyer, and talks could still end without an agreement. Other bidders may also remain interested in the business. What does it mean for customers? For now, So Energy customers do not need to do anything. Their gas and electricity supplies will continue as normal while discussions about the company’s future take place. Customers should continue paying bills, submitting meter readings and contacting So Energy about their accounts in the usual way. If EDF agrees to buy the supplier, affected households should receive official information explaining what will happen next. A takeover could eventually see customers transferred to EDF’s billing or customer-service systems, although the exact arrangements would depend on the terms of any deal. Customers’ fixed-tariff terms wouldn’t usually change automatically simply because their supplier had been bought by another company. Any credit held on accounts should also remain protected as part of an agreed transfer. What energy bill help is available? There's a number of different ways to get help paying your energy bills if you're struggling to get by. If you fall into debt, you can always approach your supplier to see if they can put you on a repayment plan before putting you on a prepayment meter. This involves paying off what you owe in instalments over a set period. If your supplier offers you a repayment plan you don’t think you can afford, speak to them again to see if you can negotiate a better deal. Several energy firms have schemes available to customers struggling to cover their bills. But eligibility criteria vary depending on the supplier and the amount you can get depends on your financial circumstances. For example, British Gas or Scottish Gas customers struggling to pay their energy bills can get grants worth up to £2,000. British Gas also offers help via its British Gas Energy Trust and Individuals Family Fund. You don’t need to be a British Gas customer to apply for the second fund. EDF, E.ON, Octopus Energy and Scottish Power all offer grants to struggling customers too. Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register (PSR). The service helps support vulnerable households, such as those who are elderly or ill. Some of the perks include being given advance warning of blackouts, free gas safety checks and extra support if you’re struggling. Get in touch with your energy firm to see if you can apply. Comment now