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UK supplier Bulb Energy to run under ‘special administration’ through winter
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Bulb Energy could be in the hands of an administrator within hours after the regulator applied to the courts for an advisory firm to run it after its collapse on Monday.
Britain’s seventh-largest supplier is expected to become the first energy company to be placed into a “special administration” process so it can continue to provide gas and electricity to its 1.7 million customers through the winter after going bust on Monday.
The provision for a special energy supplier administrator was first set in legislation in 2011 but has never been used, in part because previous supplier collapses have been small enough in scale to find a new buyer relatively quickly.
Energy industry sources believe it could take “somewhere between six weeks and six
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