Hub Energy ceases trading

Energy supplier Hub Energy has ceased trading.

Energy regulator Ofgem, the outstanding credit balances of the company’s 6,000 domestic customers and 9,000 non-domestic customers will be protected and a new supplier found.

Ofgem will choose a new supplier to take on all of Hub Energy’s customers. This supplier will contact these customers shortly after being appointed.

Neil Lawrence, Director of Retail at Ofgem, said “I understand that a supplier going out of business is unsettling for customers, however Hub Energy customers do not need to worry. Under our safety net we’ll make sure your energy supplies continue and if you are a domestic customer and have a credit on your bill with Hub this is protected and you will not lose the money that is owed to you by Hub.”

“Ofgem will now choose a new supplier for you and while we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime. You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your new tariff.”

There are more than 50 small and mid-sized independent energy suppliers in Britain which have around a 30% share of the market.