Three energy firms are the latest to collapse in recent weeks amid an unprecedented increase in global gas prices.
It comes after failures by People’s Energy, Green Supplier Ltd, Utility Point, PfP Energy, MoneyPlus Energy, and Avro Energy.
Symbio had announced last week (24 September) that it was not accepting new customers as turbulence rocked the sector and put many of its rivals out of business.
The supplier, which was fined earlier this year by regulator Ofgem said “technical issues” forced it to stop taking new customers for the time being.
But what should you do if you were with Symbio, and should you look into switching suppliers?
Here is everything you need to know about it.
How many customers are affected?
Ofgem said Enstroga, Igloo Energy and Symbio Energy represent less than 1% of domestic customers in the UK market.
Symbio supplies around 48,000 domestic customers and a small number of non-domestic customers.
Enstroga supplies around 6,000 domestic customers, while Igloo provides around 179,000 with gas and electricity.
What happens if Symbio Energy were my supplier?
Ofgem has said it is working closely with the Government and industry to make sure customers continue to be protected this winter.
Under Ofgem’s safety net, the energy supply to all affected customers will continue and credit balances will be protected.
Domestic customers will also be protected by the energy price cap when being switched to a new supplier.
Neil Lawrence, director of retail at Ofgem, said: “I want to reassure customers of Symbio Energy that they do not need to worry.
“Under our safety net we’ll make sure your energy supplies continue. If you have credit on your Enstroga, Igloo Energy or Symbio Energy account, the funds you have paid in are protected and you will not lose the money that is owed to you.”
Customers of Symbio Energy will be contacted by their new supplier, which will be chosen by Ofgem.
Should I switch suppliers?
Ofgem has advised customers of the firm to wait until a new supplier has been appointed and has made contact before looking to switch and to take a meter reading.
Lawrence said: “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 worried about paying their energy bill should contact their supplier to access the range of support that is available.”
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