EDF has acquired the more than 190,000 customer accounts of iSupply Energy from the Swedish state-owned utility Vattenfall.
iSupply Energy is no longer taking on new customers and will be wound down once the transfer is complete. Its existing customers will be moved over between April and June.
Vattenfall, which bought the supplier in June 2017, warned that the roles of all 250 of its employees are at risk of redundancy.
“EDF shares many of our values and has a proven ability to welcome large numbers of customers from other suppliers,” said Cindy Kroon, vice president for customers and solutions at Vattenfall Netherlands and UK.
“While this is the end of the iSupply journey, we’re grateful for the time we’ve spent together. We have a brilliant team who are dedicated to looking after customers and enjoy working together.
“Our task now is to work closely with EDF to deliver a seamless transfer of customer accounts and to support each other through a challenging period in which many of us will be feeling very anxious about our future. iSupply Energy and Vattenfall have committed to providing a very high level of support to all employees during the transition period.”
The company said it took the decision to exit the domestic retail market in order to focus on its core activities of renewable generation, heating, business-to-business sales and electricity distribution.
Vattenfall chief executive Magnus Hall had already raised the possibility of dropping out.
“It is a very difficult market right now, with the cap and a lot of customers changing suppliers and disruption in terms of suppliers going bankrupt,” he told The Times in November. “It is quite the mess at the moment.”
The following month iSupply Energy agreed to pay £1.5 million into a voluntary redress fund after being found to have breached the price cap on default tariffs by Ofgem.