U.K. Energy Supplier Collapse Affects 1.5 Million Households
- Business minister warned there will be more failures to come
- Other small energy suppliers have stopped taking new customers
This article is for subscribers only.
More than 1.5 million households in Britain are being forced to switch energy suppliers after two more retailers collapsed on Wednesday, bringing the tally of companies going out of business to seven since early August.
The last two victims were Green Supplier Ltd. and Avro Energy Inc, which both stopped trading on Wednesday. Avro had 580,000 customers and Green had 255,000, accounting for 2.9% of households in Britain. Another five suppliers, with more than 650,000 customers in total, have also gone under since the start of August as natural gas and power prices surged to record-highs.