Yorkshire Energy, also known as Daisy Energy, has become the latest supplier in the UK to cease trading.
Under Ofgem‘s safety net, the energy supply of Yorkshire Energy’s 74,000 domestic customers – and a small number of business customers – will continue and outstanding credit balances of domestic customers will be protected.
Ofgem will now choose a new supplier to take on all of Yorkshire Energy’s customers.
The regulator is advising customers to not switch suppliers until a new one has been appointed, who will contact them in the following weeks.
In addition, customers are advised to take a meter reading ready for when the new supplier contacts them, making the process of transferring customers and paying back outstanding credit balances as smooth as possible.
Philippa Pickford, Director of Retail at Ofgem said: “Yorkshire Energy 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 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 new tariff.”