Green Network Energy and Simplicity Energy have become the first two suppliers of 2021 to exit the market, Ofgem has confirmed.
Green Network Energy supplies around 360,000 domestic customers as well as a smaller number of non-domestic accounts. Simplicity supplies gas and electricity to around 50,000 domestic customers.
Under the name of ‘Ariz’ Simplicity Energy entered into credit default with Elexon on 18 January, before clearing it again on 22 January. However, Elexon’s credit default notice board shows the supplier entered default again on 25 January where it remains at the time of writing.
Similarly under the name of ‘Zephyr’, Green Network Energy entered credit default on 25 January and is at the time of writing yet to clear.
Statements on both suppliers’ websites confirm they are ceasing to trade and that their customers are not to worry, reiterating standard advice issued from the regulator about their account balances being protected.
Despite the pandemic, only four suppliers entered the SoLR process last year. They were Gnergy, Effortless Energy, Tonik and Yorkshire Energy.
Council-backed suppliers Robin Hood and Bristol Energy both ceased trading and their customers sold to other retailers.
Industry experts have previously spoken to Utility Week and predicted that some suppliers may be facing a “winter of discontent” due to the pandemic.