Rabu, 22 September 2021

Energy supplier Green to cease trading as it becomes latest casualty of energy crisis - Sky News

Two more energy suppliers together serving more than 800,000 customers have fallen victim to the crisis engulfing the sector.

Avro Energy and Green said they had ceased trading - with the latter blaming "unprecedented market conditions and regulatory failings".

Green, which has more than 250,000 customers and 185 staff, confirmed its collapse a day after Sky News revealed that it had lined up advisers to oversee a potential insolvency.

Avro has 580,000 customers.

The announcements came as the head of regulator Ofgem told MPs more suppliers could go bust in coming months after a surge in wholesale gas and electricity prices.

Meanwhile, Sky News revealed that Igloo, another small player in the sector, was close to being added to the list of casualties as it called in advisers - and has stopped taking on new customers.

Green said it was "exiting the market due to the government failing to provide any support to smaller energy suppliers".

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It pointed to conditions that had seen wholesale electricity and gas prices hitting new record highs, driven by a series of factors from unplanned production outages, Brexit, and severe weather to global demand, the Suez Canal blockage and a recent fire at a cross-Channel interconnector.

That means that Green, like other suppliers, has been selling energy to customers, with the current cap on standard tariffs not reflecting the current situation.

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https://news.google.com/__i/rss/rd/articles/CBMieWh0dHBzOi8vbmV3cy5za3kuY29tL3N0b3J5L2VuZXJneS1zdXBwbGllci1ncmVlbi10by1jZWFzZS10cmFkaW5nLWFzLWl0LWJlY29tZXMtbGF0ZXN0LWNhc3VhbHR5LW9mLWVuZXJneS1jcmlzaXMtMTI0MTQ0NjLSAX1odHRwczovL25ld3Muc2t5LmNvbS9zdG9yeS9hbXAvZW5lcmd5LXN1cHBsaWVyLWdyZWVuLXRvLWNlYXNlLXRyYWRpbmctYXMtaXQtYmVjb21lcy1sYXRlc3QtY2FzdWFsdHktb2YtZW5lcmd5LWNyaXNpcy0xMjQxNDQ2Mg?oc=5

2021-09-22 13:52:30Z
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