Basingstoke-based Tomato Energy supplies around 15,000 domestic customers and 8,000 non-domestic customers.  

The regulator said energy supplies and funds paid into accounts, including credit balances, would be secured for customers.

Domestic customers will also be protected by the energy price cap when being switched to a new supplier. 

Customers will be contacted by their new supplier, which will be allocated by Ofgem in the coming days. 

Rohan Churm, director for financial resilience and controls, said: “I want to reassure Tomato Energy customers that they do not need to worry. They will not see any disruption to their energy supply, and any credit domestic customers have on their accounts remains protected under Ofgem’s rules. 

“We are working quickly to appoint a new supplier for all existing customers, and they should not switch in the meantime. Once appointed, a new supplier will be in touch with further information.    

“We have worked hard to improve the financial resilience of suppliers in recent years, implementing a series of rules to make sure they can weather unexpected shocks. But like any competitive market, some companies will still fail from time to time, and our priority is making sure consumers are protected if that happens and that any associated costs are minimised.”