Millions at risk as two energy suppliers crash

Two energy companies serving over 800,000 customers have ceased trading, blaming “unprecedented market conditions and regulatory failings.”

Between them the two companies supply 2.9% of the UK domestic energy market.

Earlier today Emma Pinchbeck, chief executive officer for Energy UK, told the BEIS parliamentary committee: “We’re not just in a situation where we have regular market failure, where companies that in the traditional market win or lose. We’ve got companies that are very well run, that are well hedged, who are worried.”