A local energy company with nearly 50,000 customers is among three to have ceased trading, regulator Ofgem has announced.

Symbio Energy, which is based on the BRE Innovation Park in Bricket Wood, supplies around 48,000 domestic customers and a small number of non-domestic customers.

Under Ofgem’s safety net, the energy supply to all affected customers will continue and credit balances will be protected.

A statement on Symbio's website says: "Symbio Energy is ceasing to trade. Ofgem, the energy regulator, is appointing a new supplier for its customers.

"Customers need not worry, their supplies are secure and funds that domestic customers have paid into their accounts will be protected if they are in credit.

"Ofgem’s advice is not to switch, but to wait until they appoint a new supplier for you. This will help make sure that the process of handing customers over to a new supplier, and honouring domestic customers’ credit balances, is as hassle free as possible for customers.

"Support and advice is available on the Ofgem website for both domestic customers and non-domestic customers. Alternatively, if customers need additional support in England and Wales, they can call Citizens Advice on 0808 223 1133 or email them via their webform."

Energy suppliers Igloo and Enstroga have also ceased trading, Ofgem said.

The three firms are the latest to collapse in recent weeks amid an unprecedented increase in global gas prices.

This means that nine small UK energy suppliers have gone bust since the start of September.

It comes after failures by People’s Energy, Green Supplier Ltd, Utility Point, PfP Energy, MoneyPlus Energy, and Avro Energy.

Ofgem said it was working closely with the Government and industry to make sure customers continued to be protected this winter.

Neil Lawrence, director of retail at Ofgem, said: "Ofgem’s number one priority is to protect customers. We know this is a worrying time for many people and news of a supplier going out of business can be unsettling.

"I want to reassure customers of Enstroga, Igloo Energy and Symbio Energy 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 Enstroga, Igloo Energy or Symbio Energy account, the funds you have paid in are protected and you will not lose the money that is owed to you.

"Ofgem will choose a new supplier for you, and while we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime. You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your tariff.

"Any customer worried about paying their energy bill should contact their supplier to access the range of support that is available."