Ofgem’s Energy Shockwave: Two More Firms Go Cold
Job done? Not quite. Ofgem has just announced that Entice Energy and Orbit Energy have stopped trading, bumping the total number of collapsed suppliers up to a whopping 22.
What the companies are actually saying
- Orbit’s own website warned: “Orbit Energy Limited is ceasing to trade. Ofgem, the energy regulator, is appointing a new supplier for its customers. Customers need not worry, their supplies are secure and any credit balances will be protected.”
“Ofgem advises not to switch yet—just wait until the new supplier is chosen. This will keep the handover as painless as possible.” - Entice Energy’s announcement was a shorter version of the same story but no different.
Government reaction – the drama continues
Shadow Business Secretary Ed Miliband fired off a short tweet: “So many companies are going bust in just two months, nowhere else in the world—so-called systemic failure of regulator policy. We let firms take risky bets because Ofgem and the government deregulated in 2016. Are we going to get a thorough review of the market? We simply can’t ignore it.”
Labour MP Alex Sobel joined the party, saying: “We’re headed back to an oligopoly where the big firms keep piling on profits while the last‑resort supplier socialises losses. What fix does the Business Secretary propose?”
The Business Secretary Kwasi Kwarteng shot back: “I don’t agree with this framing. We’re not going anywhere near an oligopoly. I’ve always kept competition essential—no one can swallow that.”
What does this mean for consumers?
Lisa Barber from Which? reassured: “If you’re a Bulb customer, you’re probably feeling uneasy. Just wait for the special administration process to roll out. Your bills will still be capped at the price limit, the best deal right now. If you’re already switching to or from Bulb, keep the plan—you’re in good hands.”
Bottom line
One thing’s clear: the energy market is in a bit of a spin, but for now, stick with your current supplier and watch for official notices. The road to a new normal might be a bit rocky, but you’ve got this.
