Four more energy suppliers have ceased trading as the sector continues to face the strain from an unprecedented increase in global gas prices, Ofgem has confirmed.
Just 24 hours after Bluegreen Energy exited the market, the regulator has revealed Omni Energy, MA Energy, Zebra Power and Ampoweruk have all entered the Supplier of Last Resort (SoLR) process.
The announcement takes the total number of exits via the supplier of last resort process (SoLR) to 21 so far this year, almost the same number (22) that occurred between 2016 and 2020. It means the SoLR process has occurred 43 times in total since first being invoked.
The latest batch of failures leaves more than 23,000 customers, both domestic and non-domestic, for a new supplier to pick up.
Zebra Power, which was in the past commended by Citizens Advice for its exceptional customer service, is the largest of the four with around 14,800 domestic customers.
Omni Energy, which previously warned it was “highly likely” to cease trading, supplied around 6,000 domestic pre-payment customers. The company was recently barred by Elexon from registering new electricity meters after failing to sufficiently reduce its credit cover percentage.
MA Energy supplied around 300 non-domestic customers, while Ampower supplied around 600 domestic customers and 2000 non-domestic customers.
Omni Energy, MA Energy and Ampower had all been been put on notice that they were going to be expelled from Balancing and Settlement Code by Elexon, subject to approval by Ofgem.