Three more UK energy retailers collapse
Three more UK energy retailers announced they had ceased trading September 29. Enstroga, Igloo Energy and Symbio Energy had between them around 230,000 customers, nearly all domestic and representing less than 1% of the market.
That brings the total number of failures this year to nine, with an average of 200,000 customers apiece.
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British energy regulator Ofgem said it will pick the supplier of last resort, a process that normally takes under a week, during which time the customers will continue to receive energy.
Ofgem said: "In recent weeks there has been an unprecedented increase in global gas prices which is putting financial pressure on suppliers. Ofgem is working closely with government and industry to make sure customers continue to be protected this winter."
The much larger Avro Energy failed earlier this week, its customers being taken over by Octopus Energy.