Energy bills will rise by hundreds of pounds within weeks after dozens of cash-strapped suppliers withdrew their cheapest deals from the market because of surging wholesale prices.
Suppliers pulled their cheapest fixed-rate offers yesterday while two other companies went bust earlier this week, leaving half a million of their customers set to be moved to alternative suppliers within days by the regulator Ofgem.
Compare the Market, which specialises in comparing cheap deals, temporarily closed its energy comparison service last night because so few were available.
Using Compare the Market was not so simple today
The development is a huge blow to the competitiveness of the energy market, where in recent years dozens of small suppliers have battled to offer ever cheaper fixed-rate deals, while customers have been encouraged to switch providers when their tariffs
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2021-09-17 10:00:00Z
CBMiZmh0dHBzOi8vd3d3LnRoZXRpbWVzLmNvLnVrL2FydGljbGUvZW5lcmd5LWZpcm1zLXB1bGwtY2hlYXBlc3QtZGVhbHMtYXMtd2hvbGVzYWxlLXByaWNlcy1zb2FyLWtyNTM2OG16bNIBAA
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