Bristol Energy has issued an update to customers after it announced it will cease trading with "immediate effect."
The firm shared the news on its website after its owner Together Energy became the latest supplier to go bust as a result of soaring gas prices.
Together and Bristol Energy have 176,000 customers in total, who will be appointed a new supplier by January 24.
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A statement on Bristol Energy's 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."
If you're a Bristol Energy customer, here's all you need to know according to Ofgem and the information on Bristol Energy's website.
What happens next?
Regulator Ofgem will appoint Together and Bristol Energy customers a new supplier.
Bristol Energy has reassured customers that their supply won't be cut off, and credit balance will be transferred to a new supplier.
The firm says customers will be given a supplier by next Monday.
Are you affected? Get in touch by emailing bristolpostnews@localworld.co.uk
It said: "Ofgem will choose the best supplier for you and this process is called Supplier of Last Resort.
"Ofgem will protect your supply and you will not be cut off at any time. Any credit balance you have will also be transferred to your new supplier.
"We will update this page with more information once your new supplier has been appointed by Ofgem and we expect this to be confirmed by Monday, January 24.
"Ofgem’s advice is not to switch suppliers but to wait until they appoint a new supplier for you. This will help make sure your account transfer, including honouring any credit balance, is as hassle free as possible for you."
What will happen to energy supply?
Together and Bristol Energy customers' energy will "continue as normal" during the transfer process.
Bristol Energy said: "Your energy supply will continue as normal during the transfer process, so there’s no need to worry about losing access to gas or electricity while your supply is being transferred. If you have a Smart meter appointment, it will be honoured."
Anyone who finds themselves without supply should call the firm on 0808 281 2222.
What do customers need to do?
Customers are being urged to access their customer portal and supply a meter reading.
Bristol Energy continued: "Please access your customer portal and give us a meter reading, then when your new supplier gets in touch, give them a meter read too.
"There’s nothing more you need to do at the moment. Your new supplier will be in touch once your account has been transferred."
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