UPDATE: On 26 October EDF Energy was chosen by Ofgem to supply TOTO Energy’s customers.
Toto Energy, an energy supplier with around 134,000 domestic customers, ceased trading yesterday.
43,000 of the Brighton-based company’s customers were transferred from another failed supplier, Solarplicity, in July.
Ofgem will choose a new supplier to take on all of Toto Energy’s customers, meaning that thousands of people will be on their third energy supplier within the space of a few months.
“Toto Energy customers do not need to worry, as under our safety net we’ll make sure your energy supplies are secure and customers’ credit balances are protected”, Philippa Pickford, Ofgem’s director for future retail markets, said.
“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.”
Toto Energy was one of four suppliers that failed to meet Ofgem green tax deadline earlier this month, owing over £4,5m to the regulator.
Ofgem has recently proposed new checks for existing suppliers in order to ensure they are acting within their operational capabilities.
Among smaller suppliers that have gone under, Toto is the fourth-largest in terms of domestic customers to have failed since November 2016, behind GB Energy, Economy Energy and Spark Energy.
The company, which was founded in 2016, has confirmed ceasing trade on their website.