PfP Energy supplies gas and electricity to around 80,000 domestic customers, and 5,000 non-domestic customers. MoneyPlus Energy supplies gas and electricity to around 9,000 domestic customers.

Under Ofgem’s safety net, the energy supply of PfP Energy’s and MoneyPlus Energy’s customers will continue and outstanding credit balances of domestic customers will be protected.

Customers of PfP Energy and MoneyPlus Energy will be contacted by their new supplier, which will be chosen by Ofgem.

This will make the process of transferring customers over to the chosen supplier, and paying back any outstanding credit balances, as smooth as possible.

Neil Lawrence, director of retail at Ofgem, said: “Although the news that a supplier going out of business can be unsettling, PFP Energy and MoneyPlus Energy customers do not need to worry. Under our safety net we’ll make sure your energy supplies continue. If you are a domestic customer with credit on your PFP or MoneyPlus account this is protected and you will not lose the money that is owed to you.

“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. We will update you when we have chosen a new supplier, who will then get in touch about your new tariff.”