Three more energy firms collapse in one day
A further three energy companies have collapsed as the UK’s gas crisis worsens.
Enstroga, Igloo Energy and Symbio Energy have announced they are ceasing to trade, the regulator Ofgem said this afternoon.
It brings the total number of firms that have gone bust in September to nine, affecting up to two million customers.
Enstroga supplied gas and electricity to around 6,000 households while Igloo Energy had around 179,000 domestic customers.
Symbio Energy supplied gas and electricity to around 48,000 domestic customers and a small number of businesses.
Ofgem said this represents just 1% of the UK domestic energy market.
As with previous collapsed energy firms, the hundreds of thousands of customers will be allocated an alternative supplier by Ofgem.
Any credit they have built up on their accounts will be protected and their bills will continue to be subject to the energy price cap.
Neil Lawrence, Director of Retail at Ofgem, said: ‘Ofgem’s number one priority is to protect customers. We know this is a worrying time for many people and news of a supplier going out of business can be unsettling.
‘I want to reassure customers of Enstroga, Igloo Energy and Symbio Energy that they do not need to worry. Under our safety net we’ll make sure your energy supplies continue.’
He added: ‘Ofgem will choose a new supplier for you and while we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime. You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your tariff.
‘Any customer worried about paying their energy bill should contact their supplier to access the range of support that is available.’
An unprecedented increase in global gas prices is causing havoc in the industry, with several of the smaller firms struggling to cope.
Customers were offered fixed price deals when gas prices were low and companies are unable to charge more, despite the steep rise in the cost of gas.
People’s Energy, Green Supplier Ltd, Utility Point, PfP Energy, MoneyPlus Energy, and Avro Energy have all ceased trading as a result.
Ministers has so far refused to bail to energy companies out.
Ofgem said it is working closely with government and industry to make sure customers continue to be protected this winter.
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