UK gasoline and electrical energy agency collapses as business watchdog compelled to step in for purchasers
A UK gas and electricity firm has collapsed causing worry for household and business customers.
The industry’s watchdog has stepped in to protect supply for the Tomato Energy’s 15,300 household and 8,400 business customers, regulator Ofgem said.
Tomato Energy has posted a message on its website confirming that it is “ceasing to trade”.
In a full statement, the company said: “Ofgem, the energy regulator, is appointing a new supplier for our customers.
“In relation to outstanding payments to Tomato Energy, click here for information on our final billing processes.
“Customers do not need to worry – your supplies are secure and funds that domestic customers have paid into your accounts will be protected if you are in credit.
“Ofgem’s advice is not to switch, but to wait until they appoint a new supplier for you. This will help make sure that the process of handing customers over to a new supplier, and honouring domestic customers’ credit balances, is as hassle free as possible.”
Tomato Energy also listed helpful information for customers in regards to what they can do next.
Rohan Churm, Director for Financial Resilience and Control, said: “I want to reassure Tomato Energy customers that they do not need to worry. They will not see any disruption to their energy supply, and any credit domestic customers have on their accounts remains protected under Ofgem’s rules.
“We are working quickly to appoint a new supplier for all existing customers, and they should not switch in the meantime. Once appointed, a new supplier will be in touch with further information.
“We have worked hard to improve the financial resilience of suppliers in recent years, implementing a series of rules to make sure they can weather unexpected shocks. But like any competitive market, some companies will still fail from time to time, and our priority is making sure consumers are protected if that happens and that any associated costs are minimised.”
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