More small energy firms could go bust this winter because of increasing price volatility driven by green energy growth and the closure of Britain’s largest gas storage plant, one of the challenger suppliers has warned. David Bird, chief executive of Co-operative Energy, said that the regulator Ofgem needed to set financial stress tests for new market entrants, to reduce the risk of firms folding and customers being left in the lurch. Co-operative Energy almost doubled its customer base overnight when it was appointed to take over the 160,000 customers of GB Energy, which collapsed last November when wholesale prices spiked. It now has 410,000 customers.
Guardian 2nd July 2017 read more »