GAS and electricity firm CNG Energy has gone bust today, leaving around 41,000 business customers without a supplier.
The company announced today that it is ceasing to trade, making it the latest casualty of the ongoing energy crisis.
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No domestic customers are affected by the firm’s collapse but thousands of businesses could now be facing higher energy bills.
Regulator Ofgem said customers’ energy supply will continue, and they will be contacted by a replacement firm.
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.”
If you are a business owner and a customer of CNG you should take a meter reading today and wait to be contacted by a new supplier.
Once they’ve been in touch, you can ask to be put on their cheapest deal, but with energy prices at sky high levels it’s likely to cost more.
Businesses are not protected by the energy price cap, which is in place to limit how much households have to pay.
Ofgem said: “In recent weeks there has been an unprecedented increase in global gas prices which is putting financial pressure on suppliers.
“Ofgem is working closely with government and industry to make sure customers continue to be protected this winter.”
More to follow…
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