Goto Energy has become the latest supplier to go under during a turbulent period in the energy market.
The significant increases in gas prices in recent weeks has put financial pressure on suppliers, resulting in a number going bust.
Most recently, Pure Planet, Colorado Energy and Daligas ceased to trade, while ENSTROGA, Igloo Energy, Symbio Energy, Avro Energy, Green Supplier Limited, People’s Energy, Utility Point, PfP Energy and MoneyPlus Energy have all also collapsed this year.
In a statement on its website, Goto said: “Our company has always taken its responsibilities to its customers very seriously. We’ve consistently sought to afford all customers that have chosen our products, the service levels and respect they deserve.”
The company added it remains “immensely proud” of what it has created and even more proud of its staff.
Earlier this month, energy regulator Ofgem announced it would be consulting on issuing final orders to five suppliers who collectively owed over £7 million in late Renewables Obligations payments, including Goto Energy.
Goto supplies gas and electricity to around 22,000 domestic customers, with these customers to now be assigned a Supplier of Last Resort (SoLR).
Recent suppliers to have been assigned as SoLRs include Shell Energy Retail for Pure Planet, Daligas and Colorado Energy’s customers, E.ON Next for ENSTROGA, Igloo Energy and Symbio Energy’s and Octopus Energy for Avro Energy.
This month also saw Omni Energy beginning to automatically switch customers to rival energy suppliers after expressing concern that it is set to cease trading soon. However, it later stopped this switching following intervention by Ofgem, as automatic switching without express consent is a breach of licence conditions.