Tomato Energy has ceased trading, the UK energy regulator Ofgem confirmed, prompting the activation of the Supplier of Last Resort (SoLR) mechanism to safeguard continuity of supply for the company’s 15,300 household and 8,400 business customers.
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Energy supply will continue as normal while a new supplier is appointed in the coming days.
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Domestic credit balances are protected, and customers moved to a new supplier will be covered by the Energy Price Cap.
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Customers will not be charged exit fees if they choose to switch away after transfer.
What affected customers should do now
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Take a meter reading (and note the date).
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Wait to be contacted by the new supplier appointed by Ofgem.
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Once contacted, ask for the cheapest available tariff or shop around for alternatives.
Rohan Churm, Ofgem’s director for financial resilience and control, said:
I want to reassure Tomato Energy customers that they do not need to worry. They will not see any disruption to their energy supply, and any credit domestic customers have on their accounts remains protected under Ofgem’s rules.
We are working quickly to appoint a new supplier for all existing customers, and they should not switch in the meantime. Once appointed, a new supplier will be in touch with further information.
We have worked hard to improve the financial resilience of suppliers in recent years, implementing a series of rules to make sure they can weather unexpected shocks. But like any competitive market, some companies will still fail from time to time, and our priority is making sure consumers are protected if that happens and that any associated costs are minimised.
