More energy supplier collapses anticipated

richpluk

https://www.cityam.com/more-energy-supplier-collapses-anticipated/

Energy regulator Ofgem is readying itself for a new wave of supplier collapses.

At least four suppliers were reported to be in talks with Ofgem on Tuesday, according to Sky News.

The companies were understood to be discussing joining the Supplier of Last Resort (SOLR) system.

Some companies could make public a decision to cease trading as early as Wednesday, sector sources said.

One company is believed to include Pure Planet, whose collapse could leave 250,000 customers requiring a new supplier.

Other small suppliers thought to be potentially at risk of failure have included Ampower, Zebra Energy and Neon Reef, according to analysts.

More than 1.7m households have had their supplier switched since the start of August as companies have succumbed to soaring prices.

[Deleted User]

Already reported in various threads on this forum.

whattochoose

Phew! Relieved to see my energy supplier, Outfox the Market, still appears to be alive and kicking.

tghe-retford

Note the wording in the report. "At least four" as opposed to "four". That may become more important as time goes on.

bristolleedsfan

tghe-retford said:

Note the wording in the report. "At least four" as opposed to "four". That may become more important as time goes on.

https://inews.co.uk/news/politics/energy-suppliers-bust-supply-crisis-1245722  "Up to seven"

wakeupalarm

British Gas owner cites 'unprecedented' price environment as it puts back investor event

gefnew

Two more UK energy firms go bust as prices soar - BBC News

wakeupalarm

Third of UK's remaining energy suppliers are at imminent risk of collapse

brewerdave

If this last article is anywhere near correct, then OFGEM are going to be in serious difficulties making arrangements - presumably this would include Bulb with its 1.7m + customers as well as virtually all the remaining small(er) suppliers!!

QrizB

brewerdave said:

If this last article is anywhere near correct, then OFGEM are going to be in serious difficulties making arrangements - presumably this would include Bulb with its 1.7m + customers as well as virtually all the remaining small(er) suppliers!!

Price Bailey seem to specialise in forecasting the collapse of the energy market. See this article of theirs from 2019:

https://www.pricebailey.co.uk/press-releases/record-28-companies-supplying-electricity-went-bust-past-18-months/

Of course, that doesn't mean they are wrong ...