The energy company Mansfield, which supplies 5,400 households, collapses

A Mansfield-based energy company that served 5,400 households has ceased operations.

Headquartered at Ransom Hall South, Ransom Wood, Mansfield, Entice Energy has grown into one of the newest utility companies to collapse amid a surge in global gas prices.

Ofgem regulator said it would make sure all customers find a new home with a different utility.

You can use energy as usual and your new supplier will contact you in good time. Your bills could change after the switch.

Orbit Energy, based in London and serving 65,000 customers, is another company that has been ousted.

The companies join a club of two dozen to go out of business in less than three months.

A total of around four million customers are affected by the failures.

The biggest failure to date has been Bulb, once an energy success story that went into administration on Wednesday.
While Ofgem’s other 23 failed energy companies were moving their customers to a new supplier, Bulb simply had too many customers to allow this to happen.

Instead, it will keep trading until it can be sold or its customers slowly move elsewhere.

The government has now allocated £ 1.7 billion to support the company’s operations, a burden that could affect households’ energy bills.

Following the failure of Entice and Orbit, Neil Lawrence, Director of Retail at Ofgem said, “Ofgem’s number one priority is protecting customers. We know this is a worrying time for many people and the news that a supplier is going out of business can be worrying.

“I want to reassure affected customers that they don’t have to worry; We take care of your energy supply under our safety net. ”

Customers should now read a meter reading when their new supplier reports.

Gillian Cooper, director of energy policy at Citizens Advice, said: “The rise in global gas prices this year has been significant, but it should not have led to the collapse of 25 companies.

“With suppliers continuing to fall like dominoes, it is clear that the market is not working as it should and Ofgem needs to ask serious questions about how this can be done.”

To read the biggest and best stories, sign up here first to read our newsletter.

Continue reading
Continue reading

Comments are closed.