Energy supplier Toto has stopped trading, becoming the 16th smaller provider to go bust since the beginning of last year.
The company, which consisted of 134,000 domestic customers, had bought 43,000 of those from another failing supplier – Solarplicity – in July.
Energy regulator Ofgem stated it did not have the ability to step in at the time of that handover.
The regulator stated Toto customers should take a meter observation.
But it stressed that their energy supply will not be stopped. They should not change right away but wait for another supplier to be signed to take up their account.
“Toto Energy customers do not need to stress, as under our safety net we’ll make sure your energy supplies are safe and customers’ credit balances are protected,” stated Philippa Pickford from Ofgem.
Anger over switch
Thousands of Toto customers will be angry at their treatment, having been automatically moved from Solarplicity in July.
Solarplicity shut down in August after being crippled by poor service and many customers found that nothing is getting better at Toto.
They will soon see themselves with their third supplier in as many months.
Toto owed £4m in its renewable energy requirements to Ofgem, with a deadline for payment hanging at the end of the month. Three other suppliers have outstanding bills.
“Toto were known to be struggling with customer service and running their operations sustainably,” stated Cordelia Samson of price comparison website Uswitch.
The Energy Ombudsman has stated it is unlikely to be able to fulfill any ongoing cases against Toto, and would not be able to handle any new complaints.