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Which Business Energy Suppliers Have Gone Bust?

There has been considerable instability in the UK energy market recently, as a number of business energy providers have been experiencing financial issues. Consequently, several energy companies have had to cease operations.

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Here is a list of 25 energy companies that have “turned off the lights” in the past two years:

  1. Together Energy
  2. Whoop Energy
  3. Xcel Power
  4. Zog Energy
  5. Orbit Energy
  6. Bulb Energy
  7. Neon Reef Ltd.
  8. Entice Energy
  9. Social Energy Supply Ltd.
  10. Simplicity Energy
  11. Colorado Energy
  12. Pure Planet
  13. Zebra Power
  14. MA Energy
  15. Omni Energy
  16. CNG Energy
  17. Symbio Energy
  18. Green Network Energy
  19. People’s Energy
  20. Bluegreen Energy Services
  21. Utility Point
  22. PFP Energy
  23. HUB Energy
  24. Igloo Energy
  25. Ampower UK Ltd.

The closure of these energy companies has left many customers in the dark, affecting thousands of people across the UK and proving the depth of the current energy market crisis.

But there is light at the end of the tunnel: When an energy company goes bust in the UK, Ofgem’s safety net comes into play. This safety net works to maintain the energy supply to consumers without any interruptions and/or customers having to take any action.

What Is The Energy Price Cap?

Ofgem – the UK’s energy market regulator – sets the energy price cap, which limits the maximum amount energy suppliers can charge per unit of energy. It was first introduced in 2019 to address concerns about households paying too much for their energy bills. This price is based on energy wholesale prices and is reviewed every 3 months.

Record high wholesale energy prices – influenced by the Russian and Ukrainian wars – have caused an energy crisis and much distress to the UK population, with energy bills soaring by almost 80% in recent years.

To provide temporary relief to consumers, the UK government brought in the Energy Price Guarantee (EPG) which temporarily lowered costs until the end of June 2023.

  • From July to September 2023, Ofgem’s price cap will be at £2,074/year for a typical household.
  • The EPG will continue as a safety net until the end of March 2024 (should prices rise above £3,000/year).
  • The EPG scheme does not apply to businesses.
  • Alternatively, the UK government has introduced two support plans aimed at businesses; namely the energy bill relief scheme and the energy bill discount scheme.
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What To Do If Your Energy Supplier Goes Bust?

  1. Do not panic: As mentioned, Ofgem’s safety net will maintain your business (and household) energy supply and arrange the transfer to a new supplier. Ofgem will also work with the new supplier to honour customer credit balances and debt repayment management.
  2. Check communication: Keep an eye out for official communication from your current energy provider (or Ofgem). This will keep you informed and up-to-date on the situation and what steps are in place.
  3. Meter readings: As a precaution, take meter readings for both your business gas and electricity to ensure accurate billing and provide this information to your new supplier.
  4. Do not switch suppliers yourself: Do not change supplier contracts immediately, as the new supplier will be responsible for taking over your account after Ofgem’s safety net period has ended.
  5. Compare energy rates: Once the new supplier is in place, you are able to compare business energy utilities/tariffs from various energy firms on the market. Knowing how much energy firms charge per unit of energy will significantly help you make a more informed decision.
  6. Claim credit balances: If you had any credit balances with your previous supplier, you are eligible to claim these back.
  7. Professional help: When you are comparing utility rates for your business – SME or large business – it’s recommended that you seek help from an energy broker, to better understand the energy market landscape.
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List of replacement suppliers

Here is a list of replacement suppliers for the above-mentioned energy firm list:

  1. Together Energy – British Gas
  2. Whoop Energy – TBC
  3. Xcel Power – TBC
  4. Zog Energy – EDF
  5. Orbit Energy – Scottish Power
  6. GOTO Energy – Shell Energy
  7. Neon Reef Ltd. – British Gas
  8. Entice Energy – Scottish Power
  9. Social Energy Supply Ltd. – British Gas
  10. Simplicity Energy – British Gas
  11. Colorado Energy – Shell Energy
  12. Pure Planet – Shell Energy
  13. Zebra Power – British Gas
  14. MA Energy – Smartest Energy
  15. Omni Energy – Utilita
  16. CNG Energy – Pozitive Energy
  17. Symbio Energy- E.ON Next
  18. Green Network Energy – EDF
  19. People’s Energy – British Gas
  20. Bluegreen Energy Services – British Gas
  21. Utility Point – EDF
  22. PFP Energy – British Gas
  23. HUB Energy – E.ON Next
  24. Igloo Energy – E.ON Next
  25. Ampower UK Ltd. – Yü Energy

Compare Business Energy Suppliers With Business Energy Comparison

When scouring the energy markets for the best energy deal for your business, there are a few things to consider. Firstly, it’s good to know how much energy your business uses; as this will give you a better indication of your typical consumption values.

Let Business Energy Comparison guide you when considering switching energy providers for your business. Our team of energy experts and brokers will shed some light on the current energy crisis and help you make better business energy choices.

Start your journey and compare business gas and electricity rates with Business Energy Comparison today. Use our price comparison tool and in less time than it takes to make a brew, we’ll compile your best prices from the UK’ s best suppliers.

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Frequently Asked Questions

Who chooses a new supplier when current business energy suppliers ceased trading?

Ofgem – the UK’s energy regulator – will inform you which energy provider will take over your current supplier contacts.

Will my energy supply be cut off when I switch to a new energy supplier?

No. Thanks to Ofgem’s safety net feature, your energy supply will not be interrupted during the transfer process.

What energy relief scheme is available for UK business customers?

The UK government has implemented two relief schemes for non-domestic customers. These are;

  • The energy bill relief scheme: This scheme offers cheaper tariffs for business customers who are off the gas grid and use alternative fuels for heating.
  • The energy bills discount scheme: Non-domestic consumers may receive discounted unit tariffs on their energy bills between April 2023 – March 2024, based on the energy wholesale market price (capped at £302 MWh).