{"id":1937,"date":"2022-04-10T22:57:15","date_gmt":"2022-04-11T03:57:15","guid":{"rendered":"https:\/\/www.ohenergyratings.com\/blog\/?p=1937"},"modified":"2022-04-12T12:09:09","modified_gmt":"2022-04-12T17:09:09","slug":"did-your-ohio-energy-supplier-go-bust","status":"publish","type":"post","link":"https:\/\/www.ohenergyratings.com\/blog\/did-your-ohio-energy-supplier-go-bust\/","title":{"rendered":"Did Your Ohio Energy Supplier Go Bust?"},"content":{"rendered":"\n

What Do You Do When Your Electricity Supplier Files Bankruptcy?<\/strong><\/h2>\n\n\n\n
\"Did
Find out what happens if your energy supplier leaves Ohio.<\/em><\/center><\/figcaption><\/figure><\/div>\n\n\n\n

In March,\u00a0Volunteer Energy Services<\/strong><\/a>\u00a0filed for bankruptcy in Columbus, Ohio. This family owned company served roughly\u00a0212,000 customers<\/a>\u00a0in Ohio and neighboring states. To be sure, the past few years have been hard on many energy suppliers. But what about keeping the power on at your home? After all, you want to know what to do if your energy supplier goes bust? So, with all that in mind, let’s review what happens if your electric provider leaves the state.<\/p>\n\n\n\n

How Did Volunteer Go Under?<\/h3>\n\n\n\n

Though\u00a0Volunteer Energy Services<\/strong>\u00a0served electricity customers, it mainly focused on supplying natural gas in Ohio, especially for winter heating. However, in recent years,\u00a0warmer winters<\/a>\u00a0reduced the amount of the natural gas that the company sold. Small business and restaurant shut downs during the pandemic in 2020 cut further into the company\u2019s sales. When the\u00a0big freeze in Texas<\/a>\u00a0struck in 2021, it choked off wholesale natural gas supplies for days. So,\u00a0Volunteer<\/strong>\u00a0had to buy gas at higher prices from the secondary market. And though the company tried selling off some of its assets, the deals fell through. As a result,\u00a0Volunteer<\/strong>\u00a0couldn’t pay $12.6 million owed to its wholesale suppliers. And so the company filed bankruptcy. In recent news,\u00a0NRG Home<\/strong><\/a>\u00a0agreed to purchase what remains of the company.<\/p>\n\n\n\n

What to Expect When an Ohio Supplier Goes Bust<\/h3>\n\n\n\n

Now, if your electricity supplier files for bankruptcy or decides to leave the state, don’t worry. Your power will stay on. This is because Ohio state laws protect customers in the event of a company leaving with the\u00a0\u201cprovider of last resort\u201d<\/a>. This means your local utility will continue to supply your home at the default rate.\u00a0<\/p>\n\n\n\n

If Your Electricity Supplier Goes Bust Or Leaves Ohio<\/h3>\n\n\n\n

Though rare, some energy suppliers will leave the state. For that reason, Ohio state laws prevent failed suppliers leaving customers in the dark. The Public Utility Commission of Ohio (PUCO ) enforces the laws covering Ohio electricity suppliers. This includes how to handle suppliers who leave the state because they go out of business or violate Ohio law.\u00a0<\/p>\n\n\n\n

When a supplier decides to leave the state, they must mail a written notice to their customers within two weeks. This notice gives you 15 days to choose a new supplier to take their place. You can choose between staying with your local utility or switching to a new retail\u00a0Ohio electricity supplier<\/a>.<\/p>\n\n\n\n

If you choose to stay with your utility, you usually don’t need to do anything. However, you will pay the utility\u2019s default Price to Compare rate. On the other hand, you can shop for a new supplier. If that’s so, then you\u2019ll want to start as soon as possible.<\/p>\n\n\n\n

The best place to do that is at\u00a0https:\/\/www.ohenergyratings.com<\/a>. Here you can quickly compare plans and rates. You can also read customer reviews and choose the one that best fits your needs and save you money. Plus you\u2019ll also find news about events affecting your Ohio energy bills.<\/p>\n","protected":false},"excerpt":{"rendered":"

What Do You Do When Your Electricity Supplier Files Bankruptcy? In March,\u00a0Volunteer […]<\/p>\n","protected":false},"author":11,"featured_media":1979,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mbp_gutenberg_autopost":false},"categories":[68,44,66,42,67,50],"tags":[13,4,5,69],"_links":{"self":[{"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/posts\/1937"}],"collection":[{"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/comments?post=1937"}],"version-history":[{"count":19,"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/posts\/1937\/revisions"}],"predecessor-version":[{"id":1975,"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/posts\/1937\/revisions\/1975"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/media\/1979"}],"wp:attachment":[{"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/media?parent=1937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/categories?post=1937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ohenergyratings.com\/blog\/wp-json\/wp\/v2\/tags?post=1937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}