Energy supplier Usio Energy has ceased trading, and its customers will be taken on by First Utility.

The company has around 7,000 domestic customers. Ofgem has appointed First Utility following a competitive process.

First Utility is offering Usio Energy’s customers a competitive tariff and will honour all outstanding credit balances, including money owed to both existing customers and to former customers of Usio Energy.

Customers will be switched over today (Friday 19 October).

Mary Starks, Ofgem’s executive director for consumers and markets, said:

“If you are a Usio Energy customer there is no need to worry as we will make sure your energy supplies are secure and your credit balance is protected.”