Small energy supplier Gen4U goes bust

Ofgem has selected Octopus Energy to take over its customers

By Priyanka Shrestha

Ofgem has announced small gas and electricity supplier Gen4U has ceased trading.

It has appointed Octopus Energy to take on its 500 domestic customers, who will be contacted by the supplier over the coming days.

Customers are advised to switch suppliers if they wish to only after they have been moved to Octopus Energy.

Ofgem said: “Gen4U, a small supplier with approximately 500 domestic customers, is ceasing to trade. Ofgem is appointing Octopus Energy as the supplier of last resort for these customers.

“Customers do not need to worry, they will continue to receive energy supplies as normal and credit balances will be protected.”

Octopus Energy was also chosen to take on 90,000 customers from bust supplier Iresa earlier this year and recently bought Affect Energy for an undisclosed seven-figure sum.