Iresa, an energy supplier with less than 100,000 domestic customers, has ceased trading. The energy supply of Iresa customers will continue as normal, and their outstanding credit balances protected under Ofgem’s safety net.

Ofgem has announced that it will choose a new supplier to take on Iresa’s customers. This supplier will contact these customers individually when this process is complete.

Ofgem has recommended that in the short term that customers don’t switch supplier and take a meter reading and wait until your new supplier contacts you. This will make the process of handing Iresa’s customers over to a new supplier, and paying back their outstanding credit balances, as hassle free for these customers as possible.

Rob Salter-Church, Ofgem’s interim executive director for consumers and markets, said “If you are an Iresa customer there is no need to worry as we will make sure your energy supplies are secure and your credit balance is protected. Ofgem is working to choose a new supplier as quickly as possible for you. Whilst we’re doing this our advice is to ‘sit tight’ and don’t switch. Your energy supply will not be affected and will continue as normal – the thing that will change is that your energy will come from a new supplier.”

Iresa was the UK cheapest and most complained-about energy supplier.