The energy regulator drew up plans over the weekend to put the company into a special administration process designed to protect Bulb’s 1.7 million household energy customers.
“We’ve decided to support Bulb being placed into special administration, which means it will continue to operate with no interruption of service or supply to members,” a statement from the company on Monday said.
“If you’re a Bulb member, please don’t worry as your energy supply is secure and all credit balances are protected,” it added.
The company’s collapse has been long expected by industry rivals, which described the company as the “walking dead” after it struggled to find new investment, or a willing buyer, before the UK’s looming winter energy crisis.
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