Igloo is working with Alvarez & Marsal on its options as another insolvency looms in Britain's crisis-hit energy supply market, Sky News understands.
Igloo Energy is close to being added to the list of supplier casualties as the fallout from surging gas prices continues to shrink the number of players operating in UK’s domestic energy market.
Sky News understands that Igloo is in talks with Alvarez & Marsal, a professional services firm which has already beenIgloo, which was founded in 2016, was among a handful of suppliers ordered by the industry regulator, Ofgem, this week to pay cash into a government renewable energy scheme or risk losing their licences.
On Wednesday, Kwasi Kwarteng, the business secretary, is to appear before MPs to give evidence on the crisis in the gas market, which has been exacerbated by smaller suppliers not hedging their positions, thereby leaving them exposed to sudden spikes in wholesale prices.
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.
Energy price crisis, the return of print newspapers and a booming tech sectorIntensive energy users like fertiliser plants are starting to shut down because the cost is becoming prohibitive. Ian King finds out more with Svein Tore Holsether, CEO of Yara International. Listen to the IanKingSky business podcast here 👇
Lire la suite »
Energy crisis exposes deep flaws in Britain’s ‘seat of the pants’ economy'Boris Johnson had better just pray that it is a mild and windy winter. A cold and still one might yet floor him' | Writes JeremyWarnerUK
Lire la suite »
All your energy questions answered from bills increases to suppliers going bustThe Mirror's Head of Business, Graham Hiscott, answers the most pressing questions from the energy industry as multiple suppliers cease trading amid fears of 1970s-style power cuts
Lire la suite »
Energy suppliers risk going bust ‘within 3 months’, firm warns‘We will have no choice but to fold the company’ says CEO of Green
Lire la suite »
UK energy crisis: will bills go up and should I switch to a bigger supplier?Soaring energy costs have put five small firms out of business in recent weeks. Here’s everything you need to know
Lire la suite »
Small energy firm Green 'on the brink of going bust' leaving 250,000 in limboSMALL energy firm Green is reportedly on the brink of collapse, which could leave 250,000 customers without a supplier. The company is lining up advisers in case it falls into insolvency, which cou…
Lire la suite »