Tonik Energy has ceased trading, leaving 130,000 gas and electricity customers in limbo.
The good news is that, under energy regulator Ofgem’s safety net, customers will continue to get gas and electricity and outstanding credit balances of domestic customers will be protected.
The regulator will now choose a new supplier to take on all of Tonik Energy’s customers - once that's done, you will be able to switch somewhere else if you're unhappy with your deal.
Ofgem retail director Philippa Pickford said: “Tonik Energy customers do not need to worry, as under our safety net we’ll make sure your energy supplies are secure and domestic customers’ credit balances are protected.
“Ofgem will now choose a new supplier for you and whilst we are 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.”
Ofgem’s advice to Tonik Energy’s customers while they wait to find out who their new supplier will be is to:
Not switch to another energy supplier until a new one has been appointed and you have been contacted by them in the following weeks
Take a meter reading ready for when your new supplier contacts you
Ofgem said customers can visit visit its website for more information, ot call Citizens Advice on 03454 04 05 06 or email them via their webform.
Advice will also be shared on Ofgem's twitter @ofgem and facebook pages.
