Two more energy retailers have ceased trading, taking the total number to have exited the market via the supplier of last resort (SoLR) process so far this year to 24.
In an announcement on Tuesday (16 November), Ofgem revealed that Neon Reef and Social Energy Supply have ceased trading.
Both suppliers were recently ordered by the regulator to pay money owed into renewable energy schemes.
Neon Reef, which served around 30,000 domestic electricity customers, was revealed to owe Ofgem almost £350,000 in Renewables Obligation (RO payments).
Meanwhile, West Yorkshire-based Social Energy Supply, which had around 5,500 domestic customers, was named last week as owing more than £28,700 in Feed-In-Tariff (FIT) payments.
Code administrator Elexon also recently published a notice of its decision to suspend Social Energy Supply’s right to register any more electricity meters.
Accompanying the regulator’s announcement was a statement from Neil Lawrence, director of retail, who issued the standard reassurance to customers that their credit balances will be protected.
The latest failures mean that almost 2.6 million domestic customers have now seen their supplier cease trading in 2021.