Orbit and Entice become the latest energy firms to go bust

Ofgem has announced the collapse of two more energy firms as number of households affected by a supplier failure nears 4 million.

That brings the total number of suppliers that have failed to 24 in fewer than 12 weeks,

Entice Energy, which comprises both Entice Energy Supply and Simply Your Energy, and Orbit Energy, are to cease trading.

Entice Energy supplies around 5,400 domestic customers and Orbit Energy supplies around 65,000 domestic customers.

Under Ofgem’s safety net, customers’ energy supply will continue. Funds that domestic customers have paid into their accounts will be protected, where they are in credit. Domestic customers will also be protected by the energy price cap when being switched to a new supplier.

Customers of Entice Energy and Orbit Energy 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 affected customers that they do not need to worry: under our safety net we’ll make sure your energy supplies continue. Ofgem will 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.”