Igloo Energy, Enstroga and Symbio Energy go bankrupt
Igloo Energy, Enstroga and Symbio Energy have become the latest suppliers to go out of business as soaring wholesale gas prices continue to wreak havoc on the energy sector.
The collapse of these businesses leaves an estimated 233,000 customers without suppliers.
As part of Ofgem’s safety net, the energy supply to customers of the three companies will continue and unpaid credit balances of domestic customers will be protected. Domestic customers will also be protected by the energy price cap when they switch to a new supplier.
Ofgem will choose a new supplier for the customers of the collapsed companies. Customers are advised to wait for contact from the new supplier before seeking to change energy supplier.
A huge surge in wholesale gas prices has resulted in the collapse of several small suppliers 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 prices was “not something we’ve seen before at this rate” and warned more companies could go bankrupt. .
The government has said it will not bail out struggling companies, but is considering offering state-guaranteed loans to larger energy companies to support customers of collapsed small suppliers.