Yep..They had around 300,000 consumers........ And a company called Green has also bitten the dust.
Imported from unreliable rogue states too which is madness.Yep..They had around 300,000 consumers.
Expect more to follow.
I tied my deal in with Shell Energy for 18months about a year ago,I would imagine/hope they have enough collateral to see this through.
It’s a very fragmented UK Energy market that is probably not fit for purpose going forward.
The free market for domestic consumers stated in 1996,that model has only been tweaked & is not up to the challenges ahead.
The UK was self sufficient for gas & electricity generation back then.I would imagine half of our energy requirements are imported now.
Yes daft...Ran down the UK Nuclear industry which was world leading at one point,now we import electricity from France’s Nuclear Industry at a premium.Imported from unreliable rogue states too which is madness.
One things for sure,we will all be paying a lot more once this cull is over.
The small energy suppliers do have to pay Warm Front & other Green Levies.The cost of gas will fall again soon, and whilst we'll likely pay more it'll be nothing to do with the big six.
If the small firms weren't mostly headed up with early funding from venture capitalists and didn't sell their gas & electric below market value (not forgetting they don't have the same costs as the bigger firms as they don't need to pay Warm Home discount costs or for installation of smart meters) they may get some sympathy from me. Instead, we're now in a situation where the big boys look like naughty money grabbers when they've been undercut for years, with larger costs and the plucky underdog goes bust because of their inability to hedge the cost of gas and electricity. Which they didn't think they needed to bother with because some city spiv chucked 'em 20 mill in the hope of grabbing a few quid.