Gas price crisis: Which energy companies have gone bust and which ones are under threat?

Gas prices nationwide have begun to soar with some providers folding under the pressure.

Tuesday, 28th September 2021, 2:47 pm

Seven gas providers so far have had to close operations as a result of the national gas crisis.

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The gas crisis has seen the price of wholesale gas surge by 250% since the beginning of the year, and has risen by 70% since last month alone.

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Five gas providers so far have had to close operations as a result of the national gas crisis. Photo: PA

The rising gas prices come as a result of several factors at play, including a cold winter which left stocks depleted, high demand for natural gas from Asia and a reduction in supplies from Russia.

The seven firms that have already folded are HUB Energy, PFP Energy, MoneyPlus Energy, Utility Point, People’s Energy, Avro and Green.

All closed in the space of a six week period, starting with the collapse of HUB Energy on August 9.

The latest to fold were Avro and Green, which both announced their closure on Wednesday 22 September.

Customers of Green have now been appointed to Shell Energy, with a small number of business customers on the books also being transferred.

Several smaller gas firms have suggested they are struggling to cope as pressure mounts, and are at risk of closing soon without a Government help.

This is rumoured to include energy company Bulb, currently the UK's sixth biggest supplier.

Two more small suppliers are said to be on the brink.

If a firm collapses, customers are automatically transferred to another supplier by Ofgem.

If moved to a supplier or a deal that is more expensive, customers can then shop around for a better deal using energy comparison sites.

If an energy supplier owes a customer money after collapse, they are entitled to receive that money back.

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