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Four more energy firms could go bust this week

FOUR more energy suppliers are reportedly on the brink of going bust this week. The firms are currently in talks with energy regulator Ofgem to make sure customers are transferred to another supplier in the event of their collapse. Sky News reported that at least some of the four companies could announce insolvency as soon […] ...

FOUR more energy suppliers are reportedly on the brink of going bust this week.

The firms are currently in talks with energy regulator Ofgem to make sure customers are transferred to another supplier in the event of their collapse.

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More energy firms are expected to go bust[/caption]

Sky News reported that at least some of the four companies could announce insolvency as soon as today.

They could include Pure Planet, which supplies 250,000 customers, according to the broadcaster.

Analysts reportedly said Ampower, Zebra Energy and Neon Reef are also at risk.

Wholesale gas prices have risen more than 250% since the beginning of the year, creating a strain on the UK energy industry that has toppled certain providers.

Small energy firms Green and Avro ceased trading last month, leaving a combined 835,000 customers without a supplier.

Utility Point and People’s Energy also folded, along with a host of other small providers who have met the same fate.

The Sun previously reported that several smaller suppliers are set to go bust during the crisis.

The energy price cap rose to £1,309 for prepayment customers at the start of this month.

However, the continuing crisis has sparked fears that the cap may be raised significantly again when it is reviewed in spring next year.

 

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