Economy Energy, an energy supplier with about 235,000 domestic customers, has ceased to trade.
Economy Energy entered into the energy market in 2011.
Under Ofgem's safety net, Economy Energy's customer energy supply will remain unaffected and prepayment meters can be topped up as normal. If you currently have a credit balance with Economy Energy, this will be protected.
Ofgem will choose a new supplier to take on Economy Energy's customers as quickly as possible. This supplier will contact these customers shortly after being appointed.
Ofgem's advice to Economy Energy's customers in the meantime is:
1. Do not switch to another energy supplier.
2. Take a meter reading ready for when your new supplier contacts you.
3. This will make the process of transferring customers over to the chosen supplier, and paying back their outstanding credit balances, as smooth as possible.