SEVERAL gas and electricity suppliers have already gone bankrupt this year due to the ongoing energy crisis.
Firms struggle to cope with rising wholesale prices, causing many smaller companies to fail.
This is because they cannot pass on the gains to fixed deal customers and other consumers are protected by the energy price cap.
However, bills will still rise by £693 a year for millions of households when the limit is raised in April.
In total, 28 energy companies collapsed in 2021, including Bulb, which fell into the hands of the administration.
Three small energy companies went bankrupt in the first two months of 2022, according to Ofgem.
Whoop Energy and Xcel Power announced they would cease trading last week.
Whoop Energy served 50 households and 212 businesses, while Xcel Power had 274 corporate customers.
All clients have been transferred to Yu Energy.
Meanwhile, Together Energy, 50% owned by Warrington Council, filed for bankruptcy in January, affecting 176,000 customers.
The firm and its subsidiary Bristol Energy were unable to secure emergency funding to stay afloat.
British Gas has acquired all of Together Energy’s customers.
These are all energy providers that went bankrupt in 2021 and 2022.
Which energy companies went bankrupt in 2022?
- Energy Together (January 18)
- Shout of Energy (February 18)
- Xcel Power (February 18)
Which energy providers failed last year?
- The Energy of Simplicity (January 27)
- Green Grid Energy (January 27)
- HUB Energy (August 9)
- PFP Energy (September 7)
- MoneyPlus Energy (September 7)
- Communal Point (September 14)
- People’s Energy (September 14)
- Green (September 22)
- Avro Energy (September 22)
- Igloo Energy (September 29)
- Symbio Energy (September 29)
- Enstroga (September 29)
- Clean Planet (October 13)
- Colorado Energy (October 13)
- Daligas (October 14)
- GOTO Energy (October 18)
- Bluegreen Energy Services (November 1)
- Ampaueruk (November 2)
- Zebra Force (November 2)
- MA Energy (November 2)
- Omni Energy (November 2)
- CNG Energy (November 3)
- Social Energy Supply (November 16)
- Neon Reef (November 16)
- Bulb Energy (in administration – Nov 24)
- Orbital Energy (November 25)
- Seductive Energy (November 25)
- Zog Energy (December 1)
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