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Collapse of UK energy firms could cost each household extra £120
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The UK’s energy crisis could cost each British home an extra £120 to cover the expense of dozens of energy supplier collapses this winter, potentially plunging hundreds of thousands of households into fuel poverty for the first time.
Consumers in England, Scotland and Wales could be on the hook for a total of £3.2bn to cover the costs left behind by bust gas and electricity providers, on top of paying for record gas and electricity market prices, according to analysts at Investec.
The bank warned of a “substantial” burden on households to provide a safety net for the customers of bust suppliers, including the largest to go under so far, Bulb Energy, which plunged into a special administration process last week.
“The meltdown in the supply
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