Ofgem has appointed Shell Energy Retail to take on GOTO Energy’s 22,000 domestic customers.
It has stated that money paid by former customers of GOTO Energy into their accounts will be protected where they are in credit.
Domestic customers are also set to be protected by the energy price cap with their new supplier.
Ofgem has advised customers to wait on switching supplier until the transfer has been completed and revealed they will not be charged exit fees if they choose to make the switch.
Neil Lawrence, Director of Retail at Ofgem, said: “I am pleased to announce we have appointed Shell for the customers of GOTO Energy.
“We understand that this news may be unsettling for customers, however they do not need to worry. Their energy supply will continue as normal, and customer credit balances will be honoured.
“Your energy supply will not be interrupted. Shell will be in contact with customers over the coming days with further information.
“Once the transfer has been completed, customers can shop around for a better deal if they wish to.”