Credit, Collections & Insolvency News
Energy companies, Avro Energy and Green Supplier energy companies have announced they are ceasing to trade.
The collapse of two energy companies means nine energy suppliers have been exited the sector this year with more expected to collapse soon.
The closures mean that the UK gas crisis has claimed another two energy companies, bringing the total number of households that have lost their supplier this year to around 1.9 million2m.
Avro Energy supplies gas and electricity to around 580,000 domestic customers. Green Supplier Limited supplies gas and electricity to around 255,000 domestic customers and a small number of non-domestic customers.
Together the suppliers represent a share of 2.9% of domestic customers in the market – Avro Energy 2% and Green Supplier 0.9%.
Under Ofgem’s safety net, the energy supply of Avro Energy and Green Supplier Limited customers 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.
Customers of Avro Energy and Green Supplier will be contacted by their new supplier, which will be chosen by Ofgem.
Neil Lawrence, Director of Retail at Ofgem, said “Ofgem’s number one priority is to protect customers. We know this is a worrying time for many people and news of a supplier going out of business can be unsettling.”
“I want to reassure customers of Avro Energy and Green Supplier Limited that they do not need to worry. Under our safety net we’ll make sure your energy supplies continue. If you have credit on your Avro Energy or Green Supplier Limited account this is protected and you will not lose the money that is owed to you.
