Effortless Energy Ltd (Go Effortless Energy), a gas and electricity supplier with 2,500 domestic customers, is ceasing to trade.
Under Ofgem's safety net, customers will continue to receive their energy supply as usual and outstanding credit balances will be protected.
In the meantime, Ofgem will decide which supplier will take on all of Effortless Energy's customers. Once the decision has been made, the chosen supplier will contact all customers in the following weeks.
Ofgem strongly advises Effortless Energy customers against switching suppliers at the moment and to take a meter reading ready for when the new supplier contacts you.
Philippa Pickford, Director of Retail at Ofgem, said:
“Effortless 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’re 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 have appointed Octopus Energy to take on the customers of Effortless Energy following the news of the supplier ceasing trade.
Octopus will offer these 2,500 domestic customers a competitive tariff, while all outstanding credit balances - money owed to both existing and former domestic customers of Effortless Energy - will also be honoured.
Philippa Pickford, Ofgem’s director of retail, said:
“I am pleased to announce we have appointed Octopus Energy for the customers of Effortless Energy. Their energy supply will continue as normal and domestic customer credit balances will be honoured."
“Octopus Energy will be in contact with customers over the coming days with further information. Once the transfer has been completed, customers can shop around for a better deal if they wish to.”