Photo: by Torsten Dettlaff / Pexels
Brilliant Energy Supply Ltd, a small UK-based energy firm has ceased to trade making it the tenth company of its kind to fail in the last year.
The UK's energy regulator Ofgem has pledged that Brilliant's 17,000 customers, including those who are supplied with Northumbria Energy under a "white label" deal, will not be affected and that credit balances would remain intact.
The regulator has also urged customers not to worry and that a it would select a new energy supplier to take on Brilliant's customers as soon as possible.
Philippa Pickford, Ofgem’s director for future retail markets, said: “Our message to energy customers with Brilliant Energy is there is no need to worry, as under our safety net we will make sure your energy supplies are secure and your credit balance is protected.”
“Ofgem will now choose a new supplier for you, ensuring you get the best deal possible. Whilst we’re doing this our advice is to ‘sit tight’ and don’t switch. 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 new tariff.”
“We have seen a number of supplier failures over the last year and our safety net procedures are working as they should to protect customers.”
Brilliant Energy is the latest in a line of small energy firms to go under in the past year. Rising prices and cashflow problems have been blamed by many of them for the falls.
The other companies to fall have been:
- National Gas and Power - July 2018
- Iresa - July 2018
- Gen4u - September 2018
- Usio Energy - October 2018
- Extra Energy - November 2018
- Spark Energy Supply Limited - November 2018
- OneSelect - December 2018
- Economy Energy - January 2019
- Our Power - January 2019
The collapses have together affected over 850,000 households and business customers.
The energy licensing rules had "room for improvement" according to Ofgem and there needed to be an improved vetting for new firms entering the market. New, stricter rules are to come into force in the UK next month.
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