Surging gas wholesale prices have put unparalleled pressure on the UK's gas supply in recent weeks. As a result, a number of smaller energy suppliers are going out of business.
Ofgem, the UK’s energy regulator, has admitted many more could follow suit in the coming months.
Which energy suppliers have gone out of business?
Energy suppliers that have collapsed since the beginning of September, leaving 1.9 million stranded customers:
- PfP Energy - 82,000 customers
- MoneyPlus Energy - 9,000 customers
- Utility Point - 220,000 customers
- People’s Energy - 350,000 customers
- Green - 255,000 customers
- Avro Energy - 580,00 customers
- Igloo Energy - 179,000 customers
- ENSTROGA - 6,000 customers
- Symbio Energy - 48,000 customers
- Pure Planet - 235,000 customers
- Colorado Energy - 15,000 customers
Although pure speculation, it is reported that Octopus Energy, which currently has 3.1 million customers, is considering a bid for rival and 6th largest supplier, Bulb Energy (1.7 million customers) who is seeking an emergency cash injection.
In early September, The Guardian warned that most UK small energy suppliers could be left to collapse this winter.
Ofgem has assured customers with an at-risk supplier that they will not be left without gas or electricity. That said, only last week, larger energy suppliers warned that they could refuse to absorb customers unless the government negotiate a rescue package.
What to do if your energy supplier goes out of business?
For those customers whose energy supplier has ceased trading, please check who has taken over your energy supply.
If your energy supplier is forced to cease trading, you should:
- Take a meter reading (It’s useful to take a photo)
- Keep an old bill to prove payment history
- Wait for Ofgem to assign you a new energy supplier
- When the new supplier contacts you, request that you are put on the cheapest tariff
Click to find out more information about our void energy management service.