Pure Planet and Colorado Energy have become the latest suppliers to shutter in the UK market. Ofgem has stepped in to protect their 250,000 domestic gas and electricity customers, and are calling for customers to wait to be appointed a new supplier. It follows a raft of collapses recently, exacerbated by the high energy prices seen in the UK due to a global shortage of gas along with a number of outages in September. With wholesale gas prices up 250% between January and September, there were nine small suppliers that shuttered last month. ENSTROGA, Igloo Energy, Symbio Energy, Avro Energy, Green Supplier Limited, People’s Energy, Utility Point, PfP Energy and MoneyPlus Energy all collapsed, and their customers were placed with Suppliers of Last Resort (SoLR), chosen by the regulator.
Current 14th Oct 2021 read more »
Small energy supplier Daligas has become the third company to go bust this week, as the surge in wholesale gas prices shows no signs of easing. London-based Daligas has around 9,000 domestic and non-domestic customers, Ofgem said. The regulator added that a new supplier will be chosen to take on stranded customers.
Telegraph 14th Oct 2021 read more »
Energy suppliers that failed this year lost almost £400 million of their customers’ money and left behind billions of pounds of costs for all households to pay, Centrica’s boss said yesterday. Chris O’Shea, chief executive of the British Gas owner, criticised collapsed suppliers for “gambling with their customers’ money” and said that if they had been banks “it would, quite rightly, be a national scandal”. This year, 15 energy companies supplying 2.4 million households failed, 13 in the past two months alone as wholesale gas and electricity prices soared. Many of the costs arising from their collapses, including reimbursing customers for their lost credit balances, are recouped from all households on their energy bills. Every billion pounds of costs left behind equates to about £35 for every household in Britain.
Times 15th Oct 2021 read more »