Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Energy

UK energy crisis claims four more victims

The companies were smaller operators. Analysts are predicting further failures

The UK energy crisis has claimed more victims with the collapse of four suppliers, taking the total to 18.

The latest firms to be hit by surging wholesale gas and electricity prices are Omni Energy, MA Energy, Zebra Power and Ampoweruk, which collectively had 21,400 users in the UK and 2,300 overseas.

More than two million customers have been affected by the sharp rise in the cost of energy, which at one point surged to almost five times their historic average.

The problem has been exacerbated by a government cap that was meant to protect consumers but has forced companies to supply homes at uneconomic rates.

Ofgem said last Friday it would consult on changes to the cap

Households connected to failed suppliers will continue to receive electricity and gas, although inevitably their bills will increase.

Analysts said this latest flurry of failures is unlikely to be the last.

The crisis has been prompted by a sudden surge in demand for gas as economies began to emerge from Coronavirus (COVID-19) lockdown restrictions.

This in turn has pushed energy prices to record highs in recent weeks.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK