Two more British Energy suppliers cease trading – Reuters

energy, planet, british, wholesale, support,
  • Date: 14-Oct-2021
  • Source: Reuters
  • Sector: Oil & Gas
  • Country: Gulf
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Two more British Energy suppliers cease trading – Reuters

LONDON, Oct 13 (Reuters) – Two more British energy suppliers have ceased trading, regulator Ofgem said on Wednesday, taking the total number of firms to go bust since the beginning of September to 11 as companies struggle with record wholesale energy prices.

Pure Planet, in which oil major BP (BP.L) holds a stake of about 24% and which has around 235,000 customers, and Colorado Energy, with 15,000 customers, have exited the market.

Many British energy suppliers have struggled with the soaring wholesale gas and electricity prices while the amount they are able to charge customers is limited by Ofgem’s price cap.

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