Ipswich-based Zog Energy latest supplier to collapse
The energy provider supplied 11,700 domestic customers
Ipswich-based Zog Energy has become the latest supplier to fold, amidst the wholesale gas price crisis. A new provider will now be found for their 11,700 customers.
Energy regulator Ofgem have said their number one priority is to protect their customers and have urged them not to worry. Neil Lawrence, Director of Retail at Ofgem says," Under our safety net we’ll make sure your energy supplies continue. Ofgem will choose a new supplier for you.
"While we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime. 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 tariff."
They also add that any outstanding credit will also be honoured. Zog energy customers are being encouraged to take meter readings today and wait for their new energy suppliers to reach out to them. This can help ensure a smooth transfer process.
Once contacted by their new supplier, the customer can ask to be put on their cheapest deal or shop around for a better deal from another provider. They will not be charged exit fees for switching from their assigned supplier
If the regulator is unable to find a new supplier, Zog Energy will be temporarily placed under administration until one could be found.