Who are the energy companies going bust?

The ongoing energy crisis has now seen seven companies go bust in recent months. On Wednesday, Avro Energy and Green Supplier Limited became the two largest companies to collapse. The industry is seeing high wholesale natural gas prices reach record levels, with firms unable to significantly raise their prices due to the government’s price cap.

In the interest of transparency, Steerpike thought he would look at some of these companies in question, amid calls in certain quarters for government-backed bailouts. To begin with, it seems ludicrously easy to become an energy supplier, with a licence from Ofgem costing £450 for electricity and between £350 to £450 for gas. The online application forms mostly centre on dealing with customers and integrating with industry standards, with relatively little focus on financial stability.