Struggling energy suppliers have been thrown a £350m lifeline by the energy watchdog as it fights to prevent a wave of bankruptcies. Businesses will be able to delay payments used to maintain the country’s energy network under the rescue plan, which is aimed at suppliers such as Bulb Energy that find it hard to borrow large amounts because they are unable to get a credit rating. However, experts warned that customers will ultimately shoulder the cost of the bailout through higher bills next year. The scheme will allow companies to defer network payments until March 2021. These charges are paid to the likes of National Grid and cover the costs of running Britain’s gas pipes and electricity wires that send power around the country.
Telegraph 3rd June 2020 read more »