Ofgem has appointed Centrica’s British Gas as the Supplier of Last Resort for collapsed utility People’s Energy. Approximately 350,000 domestic customers and around 1,000 non-domestic customers were switched to the Big Six provider on 19 September, following a competitive process run by the regulator. Edinburgh-based People’s Energy was set up in 2017 with the goal of tackling fuel poverty, and grew quickly, expanding its operation in August 2020 with a new office in Selkirk. In the same year, it launched a new local supplier as well, dubbed East Lothian Energy, in partnership with East Lothian Council. It announced that it was folding on 14 September 2021, the same day challenger supplier Utility Point also announced it was shuttering. EDF took on Utility Point’s 220,000 domestic customers.
Current 21st Sept 2021 read more »
An energy company with 250,000 customers is on the brink of becoming the sixth to go into administration after ministers ruled out stepping in to bail out smaller suppliers. Green, which recently warned that it was unlikely to survive the winter, has reportedly appointed advisers and is in talks with the energy regulator Ofgem. Ministers believe that dozens could go bust in coming months because of rising gas prices. Kwasi Kwarteng, the business secretary, has said that the government will not “reward failure” and bail out smaller suppliers. Ministers are instead drawing up plans for multibillion-pound state-backed loans for larger suppliers so they can take on the customers of smaller companies.
Times 21st Sept 2021 read more »