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Thursday, December 9, 2021

Another energy supplier has gone bust amid surging gas prices

Bluegreen Energy Services has gone bust as gas prices continue to surge as a result of the energy crisis throughout Europe.

With just 5,900 customers, the supplier stopped trading operations, according to a statement made today by regulator Ofgem.

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Bluegreen Energy is the 14th energy supplier to go out of business in the last two months amid a spike in global gas prices.

When compared to January’s prices, gas has risen by as much as fivefold this year which has pushed many energy suppliers to the edge.

The crisis has left more than 1.7 million customers in uncertainty as their energy suppliers collapse.

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Ofgem posted on Twitter that it acknowledged the current time as being worrying for many people but offered a reassuring message; “If a supplier exits the market, we’re making sure you are protected.”

IMAGE – “PM Boris Johnson speaking at the opening of the UK-Africa Investment Summit in London, 20 January 2020” by DFID – UK Department for International Development is licensed under CC BY 2.0

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