A controversial energy boss has blamed the price cap on vulnerable energy customers’ bills as his firm swung to a £4.7m loss. Paul Cooke’s firm E Energy, based in Birmingham, focuses on selling gas and electricity to customers who prepay via a meter. Meter customers’ bills have been capped since April 2017, but the cap was raised last year after a review found that it under-estimated suppliers’ costs. In the latest accounts filed for E Energy, Mr Cooke said the “incorrect cost assumptions” had contributed to the company’s “poor performance”, but he believed the change in the cap would help for next year.
Telegraph 5th Jan 2020 read more »