Another energy supplier bites the dust!

GOTO Energy Limited is the latest addition to the long list of failed suppliers

Pathway to COP26 report

Ofgem has announced that GOTO Energy Limited ceased to trade.

The company supplies gas and electricity to approximately 22,000 domestic customers.

Customers of the failed supplier will be protected under the regulator’s safety net and funds they have paid into their accounts will be well protected.

Ofgem advises affected customers not to switch to another supplier until a new firm will take over.

It is the last energy firm going under after three more exits were recorded last week and a few more during the last month.

In recent weeks there has been an unprecedented increase in global gas prices that has put pressure on suppliers.

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 affected customers that they do not need to worry, under our safety net we’ll make sure your energy supplies continue.”

If you enjoyed this story you can sign up to our weekly email for Energy Live News – and if you’re interested in hearing more about the journey to net zero by 2050, you can also sign up to the future Net Zero newsletter. 

Latest Podcast