Rapped energy firm collapses

GAS and electricity supplier Economy Energy, recently banned from taking on new customers, has collapsed.

The supply to its 235,000 domestic customers will continue, any credit they have will be protected, and a new supplier will take on their accounts.

Regulator Ofgem, who on Friday had ordered the firm to improve customer service, said a new supplier would be appointed as soon as possible.

Economy Energy is the latest of a host of small suppliers to fold.