Toto Energy has become the eighth supplier of 2019 to cease trading, just weeks after being named by Ofgem as owing £4.5 million in renewables obligation (RO) payments.
Brighton-based Toto acquired the majority of Solarplicity’s customers in July this year. Solarplicity also exited the market a few months ago.
A new supplier will shortly be selected to take on Toto’s 134,000 customers.
Philippa Pickford, Ofgem’s director for future retail markets, said: “Toto Energy customers do not need to worry, as under our safety net we’ll make sure your energy supplies are secure and customers’ credit balances are protected.
“Ofgem will now choose a new supplier for you and whilst we’re doing this our advice is to ‘sit tight’ and don’t switch. You can rely on your energy supply as normal.
“We will update you when we have chosen a new supplier, who will then get in touch about your new tariff.”
An official statement on the failed supplier’s website says: “Toto Energy is ceasing to trade. Ofgem, the energy regulator, is appointing a new supplier for its customers.
“Customers need not worry, their supplies are secure and domestic credit balances are protected.”
Toto joins Economy Energy, Our Power, Brilliant Energy, Cardiff Energy Supply, Solarplicity, Eversmart Energy and Rutherford Energy, all of which have exited the market this year.