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The recent collapse of many UK energy companies will add an extra £94 to household bills from next year as the firms left in the market look to pass on the costs of taking on stranded customers, according to a damning new report from Citizens Advice that is also highly critical of the regulator. 

The energy price cap is now expected to rise by over 40% next April, MoneySavingExpert.com founder Martin Lewis warned in the latest episode of The Martin Lewis Money Show. But despite the "horrendous" projected increase, Martin explained that households are still likely to be better off "doing nothing" for now, given how expensive the cheapest fixed tariffs are currently.

Orbit Energy and Entice Energy, which have over 70,000 household customers between them, have become the latest energy providers to cease trading – meaning a total of 22 domestic energy suppliers have failed since September. If you're affected, your supply will continue and credit balances are protected. While it's likely you'll pay more now, there are no savings to be had by switching.

Bulb, which supplies more than 1.7 million households, has collapsed into a so-called 'special administration', becoming the largest firm to fail during the current energy crisis. This process, which hasn't been used before in the energy market, means Bulb will continue to operate as usual for existing customers for now. But it will no longer take on new customers and its future as a company is uncertain.

PayPoint has agreed to shake-up its services and donate £12.5 million to energy regulator Ofgem's redress fund, which largely supports vulnerable households, following a four-year investigation into market abuse. 

Neon Reef and Social Energy Supply, which have over 35,000 household customers between them, have become the latest energy providers to cease trading – meaning 19 domestic energy suppliers have gone bust since September. If you're affected, your supply will continue and credit balances are protected. While it's likely you'll pay more now, there are no savings to be had by switching.

The Government has told MoneySavingExpert.com it will stop sending out letters with envelopes wrongly advising people to switch energy tariff after we revealed that the Department for Work and Pensions (DWP) had sent the misleading advice to 10 million people.

Ampoweruk, Bluegreen Energy, Omni Energy and Zebra Power, which have over 27,000 household customers between them, have become the latest energy providers to cease trading - 17 domestic suppliers have gone bust since September. If you're affected, your supply will continue and credit balances are protected. While it's likely you'll pay more now, there are no savings to be had by switching.

The energy price cap, which governs the maximum households can be charged per unit of gas and electricity, is to be reviewed as wholesale prices soar. Energy regulator Ofgem has today written an open letter to suppliers saying it will look at the methodology used to determine the price cap over the next few months. 

MoneySavingExpert.com founder Martin Lewis has reaffirmed his message to consumers to sit tight and avoid switching to a new fixed-price energy deal as more gas and electricity providers go bust. On his weekly The Martin Lewis Money Show on ITV he warned people to "do nothing".