Martin Lewis has issued important advice to Bulb customers after the energy supplier collapsed into a “special administration”.
The MoneySavingExpert founder urged households not to panic, as their energy supply and credit will be unaffected by the announcement.
The price you pay for your energy also should not change for now.
More than 1.7 million customers are affected by the collapse of Bulb, which is the UK's seventh largest energy firm.
Martin tweeted his advice in the minutes after the announcement.
He wrote: "Details sparse, but don't worry ur supply continues & almost certainly 1. [You'll] stay on the price cap.
"There's nowt meaningfully cheaper. DON'T switch or you may pay 30% more. 2. Your credit's safe."
In tweets published shortly after, Martin added: "The Special Administration scheme likely means no firm [would] take on Bulb's 1.7m customer book.
"While the firm goes, the brand stays run by administrator. The 'special' means they must look at consumers as well as creditors' interest.
"In reality, for now, it's no change for customers."
Are you a Bulb customer who is worried about their energy supply? Let us know: mirror.money.saving@mirror.co.uk
Bulb customers should also not cancel their direct debit, as their energy supply is continuing as normal.
Martin explained: "[Bulb] is going to continue to be your energy provider, just for now run by an administrator.
"So you will need to pay it, and Direct Debit is the cheapest way.”
Finally, customers should download or take a screen grab of their latest Bulb statement online in case you need these as proof to show a new supplier.
You may also want to take a meter reading.
Martin had warned how the Bulb website would "likely be struggling" with many customers trying to check their accounts.
But he added: "If [the website] does [struggle] I wouldn't read anything in to it."
More than 20 energy companies have gone bust this year as firms struggle to shoulder the rising cost of wholesale gas prices.
The last suppliers to go bust were Neon Energy and Social Energy Supply on November 16, affecting 35,000 people.
But Bulb is the first energy supplier to be placed into a "special administration regime" (SAR).
This process basically means taxpayer cash will be used to keep Bulb going for now while an administrator tries to sell the business or restructure it in some way.
Normally, a "supplier of last resort" (SOLR) is put in place by regulator Ofgem when an energy firm goes under - this is where they instruct another company to take on customers of the failed supplier.
A spokesperson for Bulb said: "We’ve decided to support Bulb being placed into special administration, which means it will continue to operate with no interruption of service or supply to members.
"If you’re a Bulb member, please don’t worry as your energy supply is secure and all credit balances are protected."
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