MA Energy currently supply around 300 commercial clients, have stopped trading.
The regulator will now begin discussion for the replacement provider. When customers switch, the will move onto the supplier's standard variable tariff so prices will no doubt rise with the current market conditions.
This brings the total number of suppliers who have creased trading to 19 since August 2021 and affecting around two million customers.
High demand for gas and reduced supply has been behind the recent surge in wholesale prices, although other factors such as a colder winter in Europe last year.
Neil Lawrence, director of retail at Ofgem, said the regulator's "number one priority" was to protect customers.
"I want to reassure affected customers that they do not need to worry: under our safety net we'll make sure your energy supplies continue. If you have credit on your account the funds you have paid in are protected and you will not lose the money that is owed to you."
Ofgem has advised affected customers to wait and not switch supplier until it appoints a new one.
"We will update you when we have chosen a new supplier, who will then get in touch about your tariff," Mr Lawrence added.
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