Igloo Energy, Enstroga and Symbio Energy go bust
Igloo Energy, Enstroga and Symbio Energy have become the latest suppliers to cease trading as a surge in wholesale gas prices continues to wreak havoc on the energy industry.
The collapse of these firms leaves around 233,000 customers without a supplier.
Under Ofgem’s safety net, the energy supply of the customers of all three companies will continue and outstanding credit balances of domestic customers will be protected. Domestic customers will also be protected by the energy price cap when being switched to a new supplier.
Ofgem will choose a new supplier for the customers of the collapsed firms. Customers are advised to wait for contact from the new supplier before looking to switch to another energy supplier.
A huge spike in wholesale gas prices has led to the collapse of several small providers in recent weeks including Avro Energy, Utility Point, People’s Energy, PfP Energy, Green Supplier and MoneyPlus Energy
Last week, Ofgem chief Jonathan Brearley said the change in gas price was “not something we’ve seen before at this pace” and warned more firms could go bust.
The government has said it will not bail out struggling firms, but is considering offering bigger energy firms state-backed loans for taking on the customers of collapsed smaller suppliers.