An energy company serving 41,000 non-domestic customers has become the latest to cease trading amid the industry crisis.

CNG Energy announced that it was “very sad to say” that it was ceasing to trade.

It becomes the 19th company to fall victim to the crisis since the start of September after wholesale gas prices surged.

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That means that in many cases suppliers were paying higher prices for energy than they were contracted to sell it for to customers.

CNG said: “The global energy crisis and extremely high wholesale energy costs have affected many suppliers already and unfortunately CNG is the next casualty.

“We have tried and exhausted all options to remain in business.”

Ofgem said that CNG customers’ energy supply would continue and they would be transferred to another company appointed by the regulator.

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However it said that, unlike with domestic customers, the protection of funds paid by non-domestic customers into their accounts “cannot be guaranteed”.

Customers were advised to wait until the new supplier has been appointed before looking to switch.

CNG Energy is the sixth energy supplier to cease trading this week alone.

Last week, Sky News revealed that the government was accelerating contingency plans for the demise of Bulb, Britain’s seventh biggest energy supplier with around 1.7 million household customers.

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