Igloo, Symbio, ENSTROGA: Three energy firms collapse in one day
Three energy firms have collapsed today, leaving some 233,000 customers awaiting a new supplier.
The suppliers – Igloo Energy, Symbio Energy and ENSTROGA – join a string of other smaller energy companies that have been battling the weight of record high gas prices, according to energy regulator Ofgem.
Ofgem will appoint the customers of the now-collapsed firms to another company, so to avoid households paying higher bills this winter.
Any credit balance customers have is ringfenced and protected by regulation, while price caps will apply despite changing suppliers – though some households may move to a higher cost than the deal they had previously.
‘From bad to worse’
Director of Retail at Ofgem, Neil Lawrence, 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 ENSTROGA, Igloo Energy and Symbio Energy that they do not need to worry. Under our safety net we’ll make sure your energy supplies continue.
“Any customer worried about paying their energy bill should contact their supplier to access the range of support that is available.”
It follows Shell Energy adopting 255,000 customers from recently collapsed Green Supplier on Monday, just one week after British Gas took on 350,000 customers from embattled People’s Energy.
Energy policy expert at Uswitch, Justina Miltienyte, said: “The difficult wholesale energy market situation brings more bad news every week and now another three suppliers have gone into administration.
“In total, 233,000 more customers will be joining the almost two million who have already been displaced by their energy provider this year and we may not have seen the end to this situation.
“With the headlines going from bad to worse, many customers will be worried, but those impacted by this news can be reassured that their energy supply will continue as normal and credit balances will be protected.”
Miltienyte urged that all affected customers “hold tight for now” while they are moved to a new supplier appointed by Ofgem.