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Zog Energy latest British firm to collapse due to crisis with more than 20 now folded

Gas crisis: Expert issues warning over 'significant' price rises

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Zog Energy is the latest out of more than two dozen energy supplies to fail in recent months after being pushed out of the market by high gas prices.

The company has only 11,700 households on its books, making it a small failure to other firms which have collapsed.

Zog Energy’s customers join around four million other households which have seen their supplier fail since the start of the pandemic.

Regulator Ofgem will make sure that Zog’s customers are assigned a new supplier.

They can continue to use their gas and electricity in the meantime as usual, but should take a meter reading.

Ofgem director of retail Neil Lawrence 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.

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

“You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your tariff.

“Any customer concerned about paying their energy bill should contact their supplier to access the range of support that is available.”

Suppliers need to buy gas before they sell it to households across Great Britain.

But because of the cap on household energy bills, they have been unable to pass on the increased costs to customers.

The price cap is reviewed once every six months, and is expected to rise significantly in April as a result of the gas price.

Until then, many energy suppliers will have to sell gas for less than it is costing them to buy it, or decide to call it a day.

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