Omni Energy fails...

ozuma

... to be the 13th energy supplier to go bust this year, as they predicted.

They need to get in line.

I suspect there is Ampoweruk, Goto Energy, Bulb all waiting in the wings too to name just a few, all with huge financial problems of their own.
Others like Logicor, and Neo Energy who are not onboarding new customers can't be too far behind.

Let's not even mention the 8 pages of eager anticipation by MSE forumites in the last 24hours about another supplier.

bristolleedsfan

Thread by @BenChu_ on Thread Reader App – Thread Reader App

BREAKING

@BBCNewsnight has learned that gas shipping firm CNG @CNGenergyUK has written to its domestic supplier company customers saying it will no longer be providing them with gas - and they should seek alternative shippers...

Newsnight understands that CNG has about 10-15 suppliers on its books. They tended to be the more thinly capitalised ones, including ones that have gone bust such as Utility Point and Avro Energy... 

U.K. Gas Shipper CNG Group Is Exiting Wholesale Market - Bloomberg

• CNG has about 18 utility clients that will need new gas supply
• CNG’s exit could bring down more retail energy companies

“This could be the final nail in the coffin for those suppliers,” said Tony Jordan, a partner at energy industry consultancy Auxilione. “They may need to re-buy their hedges at current market rates, which they won’t be able to afford. This is catastrophic for the market.”

ozuma

^^^^
...It's recently had to provide gas to households without being paid by those failed suppliers & says this has caused "a significant amount of financial damage" to CNG - which is why its leaving this part of the market...

tghe-retford

Suggestions of eighteen(!) future energy supplier failures, not including the ones that have already gone bust.

Gulp!

https://twitter.com/_ToddGillespie/status/1448345908014354432

bristolleedsfan

Glencore-backed CNG underpins deepening energy crisis as it seeks bids within days | Business News | Sky News

CNG has in the past acted as the shipper to energy suppliers such as Bulb and Octopus Energy, although its remaining domestic supply customers are understood to be much smaller.