Bristol Energy has ceased trading after its parent company went bust.
The energy firm was acquired by Together Energy in 2020, which is the latest supplier to be buried under the weight of soaring gas prices.
Bristol Energy has blamed a "sustained increase in wholesale prices" of gas and electricity and has ceased trading with "immediate effect."
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A statement on its website reads: "We regret to inform you that the company will cease trading with immediate effect. Bristol Energy is a trading name of Together Energy Retail Limited. We want to thank you sincerely for your custom.
"Despite press reports, we did buy enough gas and electricity for your needs, but the sustained increase in wholesale prices and the securities required to continue to forward purchase the energy, have meant that it is untenable for us to continue."
Together and Bristol Energy's 176,000 customers will now be contacted by a new supplier, which will be chosen by regulator Ofgem.
Ofgem's head of retail Neil Lawrence said: “Ofgem’s number one priority is to protect customers.
“We know this is a worrying time for many people and news of a supplier going out of business can be unsettling.
“I want to reassure affected customers that they do not need to worry.
“Under our safety net, we’ll make sure your energy supplies continue.
“Ofgem will choose a new supplier for you and, while we are doing this, our advice is to wait until we appoint a new supplier and do not switch in the meantime.
“You can rely on your energy supply as normal.”
It is now a well-rehearsed statement from Ofgem, which has so far managed to find new homes for all energy customers left in the lurch by a failing supplier except Bulb, which had so many customers that Ofgem and the Government feared no other supplier could step in without being at risk themselves.
Bulb was granted a £1.7 billion loan from the Government and is being run under special administration.
Energy companies were the first to feel the force of the rising gas price. Some had prudently bought much of their gas in advance, but those that had not were squeezed between the rising prices and the cap on what they can charge consumers.
However, in April that cap will be changed so the pain will then be passed from suppliers to their customers.
Where the cap will be set is still to be decided, but analysts believe it could reach around £2,000 per year for an average household – more than £700 higher than today.
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