The fate of Britain’s new breed of upstart energy suppliers hangs in the balance after a series of gas supply disruptions ripped through energy markets last week. In the aftermath of the UK’s most explosive gas price shock in five years, the price of gas for the coldest months of winter remains a third higher than this time last year. Already one new market entrant, Toto Energy, has announced a 50pc price hike for its customers, including those on fixed-rate contracts. The Brighton-based supplier emailed its customers to explain that it is a “seasonal” plan. Senior energy bosses told The Sunday Telegraph that the industry was braced for smaller suppliers to go bust because many offer rock-bottom rates without the financial backing to absorb a market shock.
Telegraph 16th Dec 2017 read more »