Electricity and gas supplier Panda Power has said it is to exit the Irish market following a strategic review.
The move will affect approximately 60,000 customers.
The company said the decision was taken due to "unprecedented, sustained and insurmountable price increases in the international wholesale energy market."
In a statement, the company said wholesale energy prices have risen "by over 600% since February 2021."
"Panda Power wishes to reassure all its customers there will be no disruption to their energy supply and that there will be an opportunity for them to choose a new supplier up to and including the 28th of September 2022.
"Customers that do not choose an alternative supplier will automatically transfer to the Commission for Regulation of Utilities’ (CRU) designated suppliers, Electric Ireland", it said.
The utility also said it will work with all affected employees to redeploy them in the wider group, and that there will be no compulsory redundancies.
