British Energy Suppliers Go Out of Business as Prices Surge
- Pfp Energy and Moneyplus Energy both ceasing to trade: Ofgem
- Energy suppliers raising customer rates ahead of winter
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Small energy suppliers in the U.K. are going out of business as natural gas and power prices reach record highs across Europe.
The gas and electricity suppliers Pfp Energy and Moneyplus Energy will have their 94,000 customers transferred to a new supplier, U.K. energy regulator Ofgem said in a statement Tuesday. They follow Hub Energy, another power provider that announced last month that it was exiting the market.