Gnergy Ltd has become the latest energy supplier to go bust.
The gas and electricity supplier, which had around 9,000 domestic customers and a small number of non-domestic customers, is ceasing to trade – its customers will be protected by energy regulator Ofgem, who will appoint a new supplier to provide them with energy.
The outstanding credit balances of domestic customers will also be protected.
Ofgem has advised consumers supplied by the firm to not switch to another energy supplier until a new one has been appointed and to take a meter reading for when their new supplier contacts them.
Philippa Pickford, Ofgem’s Director for Future Retail Markets, said: “Gnergy customers do not need to worry, as under our safety net we’ll make sure your energy supplies are secure and domestic customers’ credit balances are protected.
“Ofgem will now choose a new supplier for you and whilst we’re doing this our advice is to ‘sit tight’ and don’t switch. 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 new tariff.”