Igloo Energy goes bankrupt with 179,000 customers moved to new supplier as small suppliers continue to struggle
Igloo Energy is one of three other energy companies to collapse as the fuel crisis threatens the suppliers responsible for millions of UK homes.
Enstroga, Igloo Energy and Symbio Energy all cease trading amid the crisis, joining the growing list of companies that have struggled during the crisis as wholesale gas prices soar.
The companies are responsible for supplying energy to a total of 233,000 homes across the UK, Igloo providing gas and electricity to 179,000 customers, Symbio 38,000 and Enstroga 6,000.
Customers will automatically be transferred to a new supplier designated by Ofgem, known as the “supplier of last resort”.
In a statement, Igloo co-founders Matt Clemow and Henry Brown said they concluded the energy market was “unfortunately no longer viable for Igloo.”
They added: “The extreme price shock we are experiencing now is a shock that few, if any, have anticipated.
“It is with great regret that we therefore have to inform you that Igloo Energy Supply Limited is going out of business and your energy supply will now be transferred to a new supplier.
“We would like to take this opportunity to thank our team who have worked tirelessly on behalf of our clients. We would also like to apologize for the impact this will have on the customers we are proud to serve.
“Our entire team is extremely grateful for the words of support many of you have shared over the past few days and I want to thank all of you who have been kind and have supported our Igloo family.”
Mr Clemow and Mr Brown added: “Our heat pump business, Igloo Works, will continue to operate and are unaffected by this news.”
Symbio also confirmed that it is “going out of business” and Ofgem “is appointing a new supplier for its customers”, while Estroga said: “We are saddened to inform you that Enstroga is ceasing to trade in the UK “.
Neil Lawrence of Ofgem said: “Ofgem’s number one priority is protecting customers. We know these are troubling times for many people, and news of a supplier’s bankruptcy can be troubling.
“I want to reassure Enstroga, Igloo Energy and Symbio Energy customers that they don’t have to worry.
“As part of our safety net, we will ensure that your energy supply continues. If you have any credit on your Enstroga, Igloo Energy, or Symbio Energy account, the funds you have contributed are protected and you will not lose the money owed to you.
“Ofgem will choose a new supplier for you and while we are doing this our advice is to wait to appoint a new supplier and not change in the meantime. You can rely on your energy supply normally. We will keep you posted when we have chosen a new supplier, who will then contact your tariff.
“Any customer worried about paying their energy bill should contact their supplier to access the range of assistance available. “
1.77 million customers have now seen their energy supplier shut down during the crisis – with a total of seven million supplied by businesses at risk of collapse.
The latest shutdown follows the collapse of Green and Avro last week – which supplied 835,000 households combined – as energy providers struggle to balance wholesale gas and electricity prices with capped bills for households.
Green’s customers were transferred to Shell Energy, while Avro’s customers were transferred to Octopus Energy.
While the government is in talks to save the “big six” energy companies, it is not believed to be considering measures to bail out smaller suppliers.