Yu Energy has been appointed as the Supplier of Last Resort (SoLR) for two failed retailers, Ofgem has announced.
Whoop Energy and Xcel Power became the second and third suppliers to exit the market so far this year on Friday (18 February).
Stoke-on-Trent-based Whoop Energy supplied gas and electricity to 262 customers in total – 50 domestic and 212 non-domestic. Meanwhile, Derbyshire-based non-domestic supplier Xcel Power served 274 gas customers.
Neil Lawrence, Ofgem’s director of retail, said: “I am pleased to announce we have appointed Yu Energy for the customers of Whoop Energy and Xcel Power Limited. We understand that this news may be unsettling for customers, however they do not need to worry.
“Their energy supply will continue as normal, and domestic customer credit balances will be honoured.”
Last year 27 suppliers exited the market via the SoLR process, with Bulb becoming the first supplier to enter the government’s Special Administration Regime.
So far this year just one other supplier, Clydebank-based Together Energy, has exited the market. Together supplied 176,000 customers, which were later taken on by British Gas.
Since 2008, more than 50 suppliers have exited the market via the SoLR process.