By Matthew Roscoe •
Published: 01 Dec 2021 • 12:46
Gas and electricity provider Zog Energy goes bust.
GAS and electricity provider Zog Energy goes bust – becoming the fifteenth provider to collapse since October 1 amid spiralling gas prices.
The Ipswich-based company, which supplies around 11,700 customers, announced on Tuesday, November 30, it would not continue trading.
The company said in a statement: “Customers need not worry, their supplies are secure and funds that domestic customers have paid into their accounts will be protected if they are in credit.”
According to the Independent, around four million households have seen their supplier fail since the start of the pandemic.
Under the industry regulator Ofgem’s ‘supplier of last resort’ lifeboat, those 11,700 customers will be appointed a new energy company which will place them on tariffs under the government’s price cap.
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.”
He added: “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 in the meantime.
“Any customer concerned about paying their energy bill should contact their supplier to access the range of support that is available.”
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at firstname.lastname@example.org.
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