400,000 customers affected by the bankruptcy of two energy companies

Two UK energy providers, which supplied electricity to hundreds of thousands of UK customers, have gone out of business.

Green Network Energy and Simplicity Energy have both revealed that they will no longer be marketed.

Between them, the two companies have supplied gas and electricity to around 410,000 customers, who will now be forced to find a new supplier.

Green Network Energy supplied electricity to 360,000 domestic customers, as well as a smaller number of non-domestic customers, while Simplicity Energy had approximately 50,000 domestic customers on its books.

The collapse of the two companies means energy regulator Ofgem has been forced to step in to protect customers.

As part of the safety net, customers of both companies will continue to be supplied with energy and any overdue credit balances will be protected.

Ofgem is now in the process of selecting a new supplier for those affected. Once selected, the new supplier will begin to contact customers directly.

During this process, Ofgem advises customers not to switch to another energy supplier and to take a meter reading, ready for when the new supplier contacts them.

Philippa Pickford, Director of Retail at Ofgem, said: “Green Network Energy and Simplicity Energy customers need not worry, because as part of our safety net, we will ensure that your energy are secured and the credit balances of domestic customers are protected.

“Ofgem will now choose a new supplier for you and while we are doing this our advice is to wait to appoint a new supplier and not change in the meantime.

“You can rely on your energy supply normally – we’ll let you know when we’ve chosen a new supplier, who will then contact you about your new tariff. “

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