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UK business energy supplier CNG Energy ceases to trade

·1-min read
FILE PHOTO: Electricity pylons are pictured near Cobham in Surrey, southern England

(Reuters) - British business energy supplier CNG Energy Ltd is ceasing to trade, it said on Wednesday, joining 17 energy suppliers in the country that have gone bust due to high wholesale energy prices since September.

Customers will be switched to new suppliers "soon", the company said on its official Twitter feed.

The British energy sector, whose companies often supply both gas and electricity to homes and businesses, have struggled in the face of soaring wholesale energy costs.

"The global energy crisis and extremely high wholesale energy costs have affected many suppliers already and unfortunately CNG is the next casualty," CNG said on its Twitter feed.

CNG Energy provided services to around 41,000 non-domestic customers, who will be contacted by their new supplier, Ofgem said.

(Reporting by Susanna Twidale in London and Priyanshi Mandhan in Bengaluru; Editing by Krishna Chandra Eluri and Jan Harvey)

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