The 22-year-old believed to be Britain’s youngest energy boss has insisted that navigating gas and power markets is “simple economics”, amid rising fears over the financial health of start-up suppliers. Jake Brown, managing director of cut-price supplier Avro Energy, also revealed that his firm has signed up 40,000 electricity customers and 30,000 gas customers in just a year since launching. He said he was “shocked” that GB Energy Supply, which went bust last weekend, had blamed its collapse on rising energy prices. “To simply say prices have gone up and bat it off as that is not fair,” he said. “Prices have risen, but they have not risen to levels to cause financial stress towards a business, and certainly not insolvency.” Avro, which markets itself on having “a different approach to simplistic supply”, has grown rapidly after offering the cheapest deals in the market at points this year. Its ‘Simple and Chill’ tariff still ranks as one of the cheapest. Experts have raised fears that other small suppliers may be at risk, questioning how they can still afford to offer such cheap deals following significant wholesale price rises and with increasing spikes in winter peak prices. But Mr Brown, who started working on plans for Avro while studying law at Birmingham University, said he was confident it was in good financial health.
Telegraph 3rd Dec 2016 read more »