Skip to main content
News Supply

Whoop Energy and Xcel Power shutter

In 2021, 27 suppliers closed as high power prices squeezed them.

In 2021, 27 suppliers closed as high power prices squeezed them.

Two more energy suppliers have collapsed, with Whoop Energy and Xcel Power Ltd leaving 536 customers to be absorbed by the Supplier of Last Resort (SoLR) mechanism.

Whoop Energy had 50 domestic and 212 non-domestic electricity and gas customers. The company failed to make both its feed-in tariff and Renewable Obligation payments in 2021, owing Ofgem £19,013 and £56,306.25 respectively.

Xcel Power had 274 customer accounts, which were gas only and all non-domestic.

They are the second and third suppliers to collapse this year as gas prices remain high, following Together Energy announcing it was closing in January. Its customers were taken on by British Gas through the SoLR mechanism.

In 2021, 27 suppliers shuttered as well as Bulb going into special administration, as it was too large to be absorbed by the SoLR.

This included: Zog Energy, Orbit Energy, Entice Energy, Social Energy Supply, Neon Reef, Omni Energy, MA Energy, Zebra Power, Ampoweruk, CNG Energy (electricity and gas), Bluegreen Energy Services, Goto Energy, Pure Planet, Colorado Energy, Daligas, ENSTROGA, Igloo Energy, Symbio Energy, Green Network Energy, Simplicity Energy, Avro Energy, Green Supplier, Utility Point, People’s Energy, PfP Energy, MoneyPlus Energy and Hub Energy.

With wholesale power prices remaining high, Ofgem announced two new short-term measures to help stabilise the supplier market. This included making suppliers offer all existing customers the same deals that are available to new customers and paying a Market Stabilisation Charge.

Loading...

End of content

No more pages to load