Energy firm becomes fifteenth to fold in 3 months as gas prices soar
Zog Energy has today become the 15th UK energy firm to collapse in just three months.
The firm has around 11,700 customers which the industry regulator Ofgem will now have to take over under its supplier of last resort safety net.
Half of Britain’s energy suppliers have already gone bust this year, 14 of which collapsed throughout October and September.
Gas prices have soared by 250% since January.
The energy price cap currently limits how much firms can charge consumers, which means the costs of wholesale price surges mostly fall on the suppliers. Experts forecast that the energy price cap will be permitted to rise by an additional £400 when it is next reviewed in February.