More small energy providers are at risk of collapse this winter, consumers have been warned, after GB Energy Supply said its business had become untenable because of rising energy prices. Ofgem, the power market regulator, said it would switch GB Energy’s 160,000 customers to a new supplier after the company ceased trading on Saturday. GB Energy is the first independent electricity and gas supplier to fail since energy prices, which have been low for the past two years, began to rise in recent months, exacerbated by the depreciation in the pound since the UK’s vote to leave the EU. Industry executives and analysts said more bankruptcies were possible among the dozens of small companies competing in the UK retail energy market.
FT 27th Nov 2016 read more »