Government considering offering emergency loans to energy companies as firms battle to stay afloat due to surging gas prices
The prime minister said the supply problems stemmed from the economy around the world waking up after pandemic lockdowns, "like everybody going back to put the kettle on at the end of the TV programme".
One senior executive at one of the UK's largest energy companies described an estimate that 10 energy companies would survive this as "optimistic".Bulb seeking a bailout to stay afloat. The bigger energy providers have the financial resources to take out insurance - or hedge - against the risk of a spike in energy prices. Smaller players have been unable or unwilling to spend the money to guard against a price shock.Customers will still continue to receive gas or electricity even if the energy supplier goes bust. Ofgem will move your account to a new supplier but it may take a few weeks.
If you are in credit on your account, your money is protected and you'll be paid back. If you were in debt to the old supplier, you'll still have to pay the money back. The new supplier should contact you to arrange a payment plan "You can legislate to protect the consumer - but that can bankrupt the supplier," said one senior industry source.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Government holds urgent talks with energy firms over gas price risesBusiness secretary in meetings with industry representatives as ex-head of Ofgem warns bills likely to remain high for rest of year
Lire la suite »
Government ‘does not expect’ gas supply emergencies in winter amid price rise crisisIncreased energy prices come as benefits are cut and furlough scheme ends
Lire la suite »
Gas price rise: Food firms warn increase will hit suppliesMeat producers and supermarkets fear a shortage of CO2 will hit the availability of fresh produce.
Lire la suite »
Gas price rise: 'UK not seeing risks to supplies right now'Spike in wholesale gas prices will not result in goods shortages or price hikes for UK customers, COP26 president Alok Sharma says
Lire la suite »
Sharma: 'No immediate concern' about gas price threat to meat supplyThe Cop26 president said ministers 'don't see any risks going into the winter' from a spike in global gas prices that prompted the closure of two industrial sites vital to the food and drink industry.
Lire la suite »
Energy industry to hold crisis talks with government as supplier Bulb seeks bailout amid gas price hikeForeign Office Minister James Cleverly says the government are working to 'protect consumers from a global increase in gas prices', adding the government will continue to have meetings with the sector after energy company Bulb is seeking a bailout.
Lire la suite »