More than 35,000 customers affected by two more collapses in energy market

The collapses of Neon Reef Limited and Social Energy Supply bring the total of failed energy suppliers to 22 since the start of August

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Neon Reef Limited and Social Energy Supply Ltd have today announced they are ceasing to trade.

Neon Reef Limited serves nearly 30,000 domestic electricity customers while Social Energy Supply Ltd supplies around 5,500 domestic customers.

The record wholesale prices have forced more than 20 energy firms to go under since the early days of August.

The energy market regulator said that its safety net means that customers’ energy supply will continue and funds they have paid into their accounts will be protected.

Neil Lawrence, Director of Retail at Ofgem, said: “Ofgem will choose a new supplier for you and while we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime.

“We will update you when we have chosen a new supplier, who will then get in touch about your tariff.”

Yesterday, a new report predicted that two-thirds of remaining electricity and gas suppliers will go bust in the next twelve months.

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