Another energy supplier has gone bust, Brilliant Energy struggled with rising wholesale cost and the new price cap introduced by Ofgem.
The energy regulator, Ofgem has said the company’s 17,000 customers are protected by Ofgem’s safety net.
Philippa Pickford, Ofgem’s director for future retail markets, said: “Our message to energy customers with Brilliant Energy is there is no need to worry as under our safety net we will make sure your energy supplies are secure and your credit balance is protected.”
“Ofgem will now choose a new supplier for you, ensuring you get the best deal possible. Whilst we’re doing this our advice is to ‘sit tight’ and don’t switch.
“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.
“We have seen a number of supplier failures over the last year and our safety net procedures are working as they should to protect customers.”
There is a long list of small providers that have gone bust recently, including Our Power, Economy Energy, Spark Energy, Extra Energy, Future Energy, National Gas and Power, Iresa Energy, Gen4U, One Select and Usio Energy.