Future Of British Business
Bulb Energy CEO Hayden Wood Apologizes for Supplier’s Collapse
- Company couldn’t buy energy in long-term markets, CEO says
- Bulb sold hedges to help ease its sales process late last year
Hayden Wood
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
The co-founder of the biggest British energy supplier to collapse last year amid record prices has apologized for the multibillion-pound cost to taxpayers.
“I’m very sorry for the way things turned out,” said Hayden Wood, who has been kept on as chief executive officer of Bulb Energy Ltd. since it entered special administration in November. “This has been an extremely challenging time for the energy sector.”