Four more energy suppliers collapse amid soaring gas prices

·2-min read

Another four small energy providers have gone bust in a move that will see new suppliers sought for about 23,700 households and businesses, the energy watchdog said.

Ofgem said Omni Energy, MA Energy, Zebra Power and Ampoweruk have announced they are ceasing to trade.

It comes after supplier Bluegreen Energy Services, which had 5,900 customers, went under on Monday as soaring gas prices put the squeeze on the sector.

Ofgem said Zebra Power supplies about 14,800 domestic customers while Omni Energy supplies about 6,000 pre-payment domestic customers, MA Energy supplies about 300 business customers and Ampoweruk supplies about 600 domestic customers and 2,000 businesses.

It means that 18 suppliers have now gone bust over the past two months as a result of the surge in global gas prices.

The regulator said it will choose a new supplier for affected customers, which will then contact them, and assured that energy supply and funds paid into accounts will be protected.

It added that households will also be protected by the energy price cap when being switched to a new provider.

Neil Lawrence, director of retail at Ofgem, said: “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 have credit on your account the funds you have paid in are protected and you will not lose the money that is owed to you.

“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.

“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 tariff.”

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