Households are facing “desperate choices” this winter, with energy bills rising by £30 a month for those who have had to switch supplier owing to a wave of energy company failures, as three more collapsed on Wednesday. Rising gas prices have driven 12 energy companies under this year, forcing the regulator, Ofgem, to transfer 2m customer accounts to surviving suppliers. The collapse of a further three will force the regulator to move 233,000 more customer accounts, with bills expected to increase as a result. Ofgem said Igloo Energy, Symbio Energy and Enstroga had become the latest companies to succumb to a gathering crisis that shows no sign of abating, with gas prices remaining stubbornly high amid international shortages as winter approaches. A report by Citizens Advice, published today, has found that consumers who are moved to a new supplier typically pay £30 a month more than before. Advisers at the charity fear many will face fuel poverty this winter and could end up turning off their fridges and freezers, relying on hot-water bottles for warmth and requesting support to buy extra duvets and blankets. Clare Moriarty, chief executive of Citizens Advice, said: “Overnight price hikes will be a shock for more than a million households whose energy companies have gone bust. We’re particularly worried about those who’ll face desperate choices this winter because of the cumulative impact of soaring bills, the planned cut to universal credit and inflation.
Guardian 30th Sept 2021 read more »
Three energy suppliers collapsed yesterday leaving 233,000 households facing an imminent rise in their bills of about £350 a year as wholesale gas prices reached record highs. The failures of Igloo Energy, Symbio Energy and Enstroga mean that nine suppliers serving more than 1.7 million households have gone bust this month. Customers will be moved to other companies that are generally expected to charge them the maximum allowed under the energy price cap, which rises to £1,277 a year from tomorrow. It will represent an increase of hundreds of pounds a year for many customers who had taken out cheap fixed-price deals with the defunct companies.
Times 30th Sept 2021 read more »