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Bulb Energy, which supplies 1.7m customers, collapses into administration
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Bulb Energy has gone bust and will be placed into a special administration process to manage the fallout of the biggest energy supply collapse on record.
The energy regulator drew up plans over the weekend to put the company into a special administration process designed to protect Bulb’s 1.7 million household customers, according to industry sources.
“We’ve decided to support Bulb being placed into special administration, which means it will continue to operate with no interruption of service or supply to members,” a statement from the company on Monday said.
“If you’re a Bulb member, please don’t worry as your energy supply is secure and all credit balances are protected,” it added.
The company’s collapse has been long expected by industry
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