Arab Press

بالشعب و للشعب
Friday, Jun 20, 2025

Two more energy firms power down as taxpayer keeps lights on at Bulb

Two more energy firms power down as taxpayer keeps lights on at Bulb

The industry regulator confirms two more suppliers have left the market - taking the total number of firms to collapse since the start of September to 24.

The demise of two more household energy suppliers has been confirmed by the industry regulator, less than 24 hours after the taxpayer was left liable for major player Bulb and its 1.7 million customers.

Ofgem revealed on Thursday afternoon that Entice Energy, which comprises both Entice Energy Supply Limited and Simply Your Energy Limited, and Orbit Energy Limited had ceased trading.

They had 5,400 and 65,000 customers respectively.

Unlike with Bulb, but in common with the previous collapse of 22 firms since September, customers will be appointed a new supplier under the regulator's "safety net".

Almost four million households have been affected by the raft of energy firm failures this year.

It has been caused by a COVID-related squeeze in gas supplies that has ramped up prices to record levels as companies and countries scramble to secure enough for the winter.

Bulb, which had 1.7 million customers, was deemed too big to fail because imposing such a flood of business on one provider was financially impossible.

It is now being run by a special administrator, Teneo, with up to £1.7bn of Treasury funding - £1,000 for each customer - to ensure continuity of supply pending a sale of the business.

The process is expected to take some time, especially given the fact that prices remain well above levels usual for the time of year.

A restructuring or sale of Bulb's customer base would take place in the event no buyer can be found.

Neil Lawrence, Director of Retail at Ofgem, said of the two latest failures: "Ofgem's number one priority is to protect customers.

"We know this is a worrying time for many people and news of a supplier going out of business can be unsettling.  

"I want to reassure affected customers that they do not need to worry. Under our safety net we'll make sure your energy supplies continue. 

"Ofgem will choose a new supplier for you and while we are doing this our advice is to wait until we appoint a new supplier and do not switch in the meantime. You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your tariff."

That tariff will be on the government's energy price cap as there are no cheaper fixed rate deals on the market.

The cap rose 12% at the start of October to reflect wholesale price increases ahead of last summer.

It is expected to rise again in April, following a review in February, to reflect further increases.

Economists have warned it could add hundreds more to annual bills.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Saudi Arabia Faces Uncertainty Over Succession After Mohammed bin Salman
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Majority of French Voters View Macron's Presidency as a Failure
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Businessman Mauled by Lion at Luxury Namibian Lodge
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
×