Goto Energy had about 22,000 domestic customers. It’s the fourth supplier to collapse this month, and the 13th since the start of September.

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.

Ofgem said it picked Shell Energy following a “competitive” process to get the “best deal” for customers.

Funds that current and former domestic customers of Goto Energy have paid into their accounts will be protected, where they are in credit. Domestic customers will also be protected by the energy price cap with their new supplier.

For existing Goto Energy customers, energy supplies will continue as normal after they were switched over to Shell on 21 October 2021.

Customers of Goto Energy will be contacted over the coming days about the changes. If customers wish to switch supplier, they can shop around but are advised to wait until the transfer has been completed. Customers will not be charged exit fees if they decide to switch to another supplier.

Neil Lawrence, Ofgem’s director of retail, 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.”