Two more energy suppliers go bust

Energy suppliers, PfP Energy and MoneyPlus Energy have announced today that they are ceasing to trade

Big Zero Report 2022

Two more energy suppliers have been added to the list of those that have gone out of business since the first lockdown.

Energy suppliers, PfP Energy and MoneyPlus Energy, have announced today that they are ceasing to trade.

The move is expected to affect around 94,000 customers.

The energy supply and credit balances of the two companies’ customers will be protected under Ofgem‘s safety net.

The UK’s energy regulator said the customers will be contacted by their new supplier, which will be appointed soon.

Until then, they are advised not to switch to another energy supplier and a meter reading ready for when their new supplier contacts them.

Neil Lawrence, Director of Retail at Ofgem, said: “Although the news that a supplier going out of business can be unsettling, PFP Energy and MoneyPlus Energy customers do not need to worry.

“Under our safety net we’ll make sure your energy supplies continue. If you are a domestic customer with credit on your PFP or MoneyPlus account this is protected and you will not lose the money that is owed to you.”

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