{"id":60439,"date":"2021-11-15T08:57:14","date_gmt":"2021-11-15T13:57:14","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60439"},"modified":"2021-11-15T08:57:14","modified_gmt":"2021-11-15T13:57:14","slug":"third-of-uks-remaining-energy-suppliers-are-at-imminent-risk-of-collapse","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60439","title":{"rendered":"Third of UK’s remaining energy suppliers are at imminent risk of collapse"},"content":{"rendered":"
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Third of UK’s remaining energy suppliers are at imminent risk of collapse<\/a><\/h3>\n<\/header>\n<\/div>\n
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About a third of the UK\u2019s dwindling number of domestic energy suppliers are at imminent risk of collapse amid soaring wholesale energy prices, new analysis suggests.<\/p>\n

\"Wind<\/span>\u00a9 Provided by The Telegraph<\/span>\u00a0Wind turbines<\/span><\/span>Fourteen electricity and gas suppliers are deemed \u201cmaximum risk\u201d under their credit score, accountant Price Bailey found, indicating they will find it difficult to access funding.<\/p>\n

It comes amid little sign of respite from the\u00a0high wholesale natural gas prices caused by a global supply crunch<\/a>, which have already pushed 19 energy suppliers out of business since the start of September.<\/p>\n

Natural gas prices have climbed as much as six times since last summer, but Britain\u2019s\u00a0price cap on energy bills<\/a>\u00a0prevents companies from passing those costs on to customers immediately.<\/p>\n

Matt Howard, partner at Price Bailey, said: \u201cThe energy supply sector is facing complete carnage as we head into the winter months.<\/p>\n

\u201cOver a third of suppliers have already gone bust and another third are at imminent risk of going under in the coming months.\u201d<\/p>\n

Price Bailey, a top 30 accountant, checked the Delphi credit scores of all the household electricity and gas supply licence holders registered with Ofgem, excluding the Big Six and two whose credit scores\u00a0were suppressed.<\/p>\n

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Video: Former energy and climate change Minister: UK has been ‘very complacent’ about gas market (CNBC)<\/strong><\/p>\n

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