CNG retail arm on the brink of collapse
Around 45,000 customers, including schools, hotels and restaurants will reportedly move to another supplier “within a matter of days”
CNG Energy’s retail arm could reportedly be the next casualty of the unfolding crisis that has thrown the UK’s energy market into unprecedented turmoil.
The energy supplier supplies gas to commercial customers, including schools, hairdressers, hotels and restaurants.
According to Sky News, the provider is close to falling into the Supplier of Last Resort (SoLR) process which is operated by Ofgem and aims to appoint a new company that will take on a failed supplier’s customers.
It has been reported that the transition of CNG’s 45,000 customers could take place in a matter of days.
That reportedly follows a process through which CNG and its advisers received no viable offers for the retail arm.
The future of the retail division is different from that of its wholesale shipping business that supplies gas to other energy suppliers.
Just a few days ago, CNG warned its customers, several smaller energy companies that the company is preparing for an orderly exit and that they cannot retain their current contracts.
We urge all or customers and future customers to sit tight and receive your new supplier and tariff. Once you have done that we advise speaking to one of our experienced members of staff to review the new tariff you have been given. We have noticed that some energy suppliers are playing on the external environment and rising your tariffs with the response "its the cheapest deal" When in actually fact there's normally always cheaper