Zog Energy becomes latest firm to collapse in gas price crisis

Another energy supplier has collapsed amid an ongoing surge in gas prices, UK regulator Ofgem has said.

Zog Energy, which has about 11,700 domestic energy customers, ceased trading on Wednesday.

It marks the latest company to go bust under higher wholesale gas prices, which have made price promises by companies unfeasible.

Ofgem will appoint a new supplier for the firm's customers.

In the meantime, customers should wait until their new supplier has been appointed before looking to switch elsewhere, it said.

The energy watchdog added that taking a meter reading will also help smooth the process when Zog Energy's customers are contacted by their new supplier.

They join about four million other households, which have seen their supplier fail since the start of the pandemic.

Neil Lawrence, director of Retail at Ofgem, said customers did not need to worry.

"Under our safety net we'll make sure your energy supplies continue... You can rely on your energy supply as normal."

In a statement on its website, Zog Energy emphasised that customers' supplies are "secure" and funds that consumers have paid into their accounts will be protected if they are in credit.