Energy firm with tens of thousands of customers goes bust as bills jump £111

An firm has gone bust, leaving tens of thousands of customers without a supplier. Rebel Energy, which supplies 80,000 people, ceased trading shortly after bills soared for Brits.

Its customers won't see any disruption to their energy supplies as they are protected by regulator . Any funds or existing credit balances with Rebel Energy will also be protected, while customers will be contacted by their new supplier in the coming days.

It comes as the new energy price comes into force. The dual fuel bill for those not on a fixed deal has increased from £1,738 to £1,849 per year - an increase of £111 a year for the average UK household.

Tim Jarvis, director general for markets at Ofgem, said: "Rebel Energy customers do not need to worry, and I want to reassure them that they will not see any disruption to their energy supply and any credit they may have on their accounts remains protected under Ofgem's rules.

"We are working quickly to appoint new suppliers for all impacted customers. We'd advise customers not to try to switch supplier in the meantime, and a new supplier will be in touch in the coming weeks with further information.

Citizens Advice said Rebel Energy's collapse has added to an"already stressful situation." Alex Belsham-Harris, head of energy policy, said: "The Government and Ofgem must ensure customers of Rebel Energy who've fallen behind on bills continue to access affordable repayment plans."

Rebel Energy is not the only firm to collapse recently. Green energy company Ripper Energy went under after filing a notice to appoint administrators last month.

At the height of the energy crisis, 30 companies went bust in less than a year. They included Bulb, Zog Energy, Together Energy and Orbit.

However, Ofgem has strengthened its rules so energy suppliers are more resilient. The measures include ring-fencing customer credit balances and requiring suppliers to have sufficient capital.