Three more suppliers cease trading

Enstroga, Igloo Energy and Symbio Energy have announced they are ceasing to trade. According to Ofgem, Enstroga supplies around 6,000 domestic customers. Igloo Energy supplies around 179,000 domestic customers and Symbio Energy supplies around 48,000 domestic customers and a small number of non-domestic customers.

Together the suppliers represent less than 1% of domestic customers in the market. However, it brings the number of domestic customers transferred under emergency arrangements this month to over 6% of the total. Avro Energy, with around 580,000 domestic customers, and Green Supplier Limited (‘Green’), with around 255,000 domestic customers, ceased to trade on 22 September. Together the suppliers represented a share of 2.9% of domestic customers.
Utility Point and People’s Energy closed a week earlier, with around 220,000 and 350,000 domestic customers, respectively. Peoples energy also had 1,000 non-domestic customers. Two other companies closed on 7 September: PfP had 82,000 domestic customers and 5,600 non-domestic customers, and MoneyPlus Energy had 9,000 domestic customers.
Hub Energy, a gas and electricity supplier with around 6,000 domestic customers, and 9,000 non-domestic customers, ceased to trade in August and its domestic customers were transferred to E.On on 6 September.

The three closures come a day after a consultation closed on hiking the Credit Assessment Price (CAP), on which credit requirements are set, to £184/MWh, up from £137/MWh. An earlier decision to increase the CAP to £137/MWh from its previous value of £113/MWh has not yet taken effect: it applies on 5 October.