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Goto Energy is latest supplier to fold

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Goto Energy has become the latest small supplier to go bust amid soaring wholesale gas prices.

It’s the fourth supplier to collapse this month, and the 13th since the start of September.

Goto supplied gas and electricity to around 22,000 domestic customers.

A statement on its website said: “It is with regret that we must announce today that has ceased to trade.

“You may be aware of recent reports of the “meteoric” rises in wholesale energy prices. This has been driven by a global shortage of natural gas, among other factors.

“Thank you to you, our customers, who have placed their trust in us – we hope we’ve served you well during your time with us.”

What should Goto customers do?

Energy regulator Ofgem will appoint a new supplier for Goto customers in the coming days. Gas supply will continue as normal and any in-credit funds are protects in customers’ accounts.

Goto customers should take meter readings today and wait until their new supplier contacts them. Once they have been contacted, customers can ask to be put on their new supplier’s cheapest deal or shop around for a better deal from another supplier. They will not be charged exit fees for switching away from their new supplier.

The ongoing energy crisis has so far led to the collapse of: Avro Energy, Utility Point, People’s Energy, PfP Energy, Green Supplier, MoneyPlus Energy, Symbio Energy, Igloo Energy, Enstroga, Colorado Energy, Pure Planet and Daligas.

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