Ofgem has said a new supplier for the 10,000 domestic customers of Future Energy is likely to be announced this week, although it could take up to 14 days.

The regulator is searching for a new supplier after the Newcastle-based supplier of gas and electricity ceased trading last week.

Future Energy customers will be contacted individually by the new supplier, when the process is finalised, Ofgem said.

Ofgem stated that under its safety net, the energy provider’s customers, which are largely focused in the north-east and Yorkshire will have power and any outstanding credit balances will be protected.

The regulator has advised affected customers not to switch but said they will not be charged an exit fee if they do. It has also told customers to take a meter reading and wait until they are contacted by the new supplier, assuring them their energy supplies will not be interrupted in the meantime.

Future Energy is the second supplier to cease trading this winter after Brighter World Energy closed in December. Its customers were taken over by council-owned supplier Robin Hood.

An Ofgem spokesperson, said: “We will be considering the timing of a wider review of our approach to awarding supply licences, as part of the coming year’s work plan.”

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