An energy supplier highly rated for its customer service has become the 16th retailer to enter the supplier of last resort (SoLR) process so far this year.
GoTo Energy, which served 22,000 domestic customers, was ranked number one in the latest Citizens Advice star ratings table, receiving a total rating of 4.25 out of 5.
The company, based in Sandwich, Kent, was founded in 2018. A statement on its website contains the usual advice to customers about Ofgem appointing a new supplier to them.
Neil Lawrence, the energy regulator’s director of retail, said: “Ofgem’s number one priority is to protect customers. We know this is a worrying time for many people and news of a supplier going out of business can be unsettling.
“I want to reassure affected customers that they do not need to worry: under our safety net we’ll make sure your energy supplies continue. If you have credit on your account the funds you have paid in are protected and you will not lose the money that is owed to you.”
GoTo follows the failures last week of app-based supplier Pure Planet, Colorado Energy and Daligas leaving another 259,000 customers for a new supplier to pick up.
Since first being invoked in 2016, the SoLR process has been used 38 times in total. This year’s unprecedented failure of 16 suppliers far exceeds the previous record of nine set in 2019.