People’s Energy and Utility Point have become the latest small suppliers to collapse, taking the total this year to seven.
It is the second double announcement of small suppliers ceasing to trade in as many weeks, with the two hot on the heels of PfP Energy and MoneyPlus Energy.
Utility Point supplies gas and electricity to around 220,000 domestic customers, while People’s Energy supplies gas and electricity to around 350,000 domestic customers and around 1,000 non-domestic customers.
Edinburgh-based People's Energy expanded its operations in August 2020 with a new office in Selkirk, launching a new local supplier, East Lothian Energy, in partnership with East Lothian Council the same month.
People's Energy had a goal of tackling fuel poverty, and in February 2021 called on chancellor Rishi Sunak to use the Budget to deliver further support for renewable programmes.
Social housing in particular was highlighted by the supplier, suggesting solar panels should be put onto social housing in order to support Climate Emergency Targets and to support people on low incomes in reducing their bills.
However, late last year People’s Energy was the target of a cyberattack, with personal information on all current and former domestic customers accessed.
Ofgem is now to choose a new supplier for the customers of People's Energy and Utility Point. Earlier this week, it announced British Gas as the chosen supplier for the customers of PfP Energy and MoneyPlus Energy.
It comes during a turbulent few years for small suppliers, with over 20 having ceased trading since 2018. In 2020 alone the likes of Yorkshire Energy, Tonik Energy, Effortless Energy and GnERGY ceased to trade, while Hub Energy, Green Network Energy and Simplicity Energy have also gone under this year.