Two more energy firms added to the list of bust companies

Posted at February 20, 2022 » By : » Categories : News » Comments Off on Two more energy firms added to the list of bust companies

The skyrocketing gas prices that have made two dozen suppliers exit the market seem to continue leaving their mark in the UK’s energy retail market.

Whoop Energy and Xcel Power Ltd have today announced they are ceasing to trade.

Whoop Energy which was introduced as a “small, independent family-run company” supplied 262 customers – the majority of them were businesses.

Xcel Power had 274 customer accounts, gas only and all non-domestic.

The energy regulator’s advice for customers is not to switch but to wait until a new supplier will be appointed.

Neil Lawrence, Director of Retail at Ofgem, said: “Ofgem’s number one priority is to protect customers. We know this is a worrying time for many people and news of a supplier going out of business can be unsettling.

“I want to reassure affected customers that they do not need to worry, under our safety net we’ll make sure your energy supplies continue.”

Earlier this year, Together Energy which was serving around 176,000 customers announced its exit from the market.

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