One Select is latest energy company to fail

One Select, an energy supplier with about 36,000 domestic customers, has ceased to trade and has entered the ‘supplier of last resort’ process. Ofgem will choose a new supplier to take on One Select’s customers as quickly as possible. This supplier will contact these customers shortly after being appointed.

The regulator said, “We have seen a number of supplier failures this year and our safety net procedures are working as they should to protect customers.”

One Select was not among the companies that defaulted on Renewables Obligation and feed-in tariff payments (full details see here).

Meanwhile Ofgem has appointed First Utility as SOLR for Usio’s customers.

Further reading

Two more suppliers exiting the market as Ofgem names RO defaulters

Extra Energy ceases trading – Ofgem announces new supplier fitness tests

Scottish Power to take on Extra Energy customers from Sunday

Spark Energy in merger talks after missing £14.4M RO payment

Usio Energy ceases trading