Bankruptcies of energy companies continue in the UK

UK energy audit agency Ofgem reported that three energy companies went bankrupt in the country. In the statement made by Ofgem, it was stated that companies named Enstroga, Igloo Energy and Symbio Energy ceased their operations and filed for bankruptcy.

In the statement, it was noted that 3 energy companies serve 230 thousand people in the British market and constitute only 1 percent of the total market.

Especially small and medium-sized energy companies, which cannot directly and unlimitedly reflect the rising natural gas and electricity prices to their customers due to the upper limit on the invoices, are going through a serious crisis in the UK.

Along with the last 3 energy companies that went bankrupt, the number of energy companies that went bankrupt in the country since the beginning of September increased to 9.

The 9 energy companies (Avro Energy, People's Eneergy, Greensupplier Ltd, Utility Point, Igloo, PFP Energy, Symbio, MoneyPlus Energy, Enstroga) that went bankrupt in the last month were serving 1.7 million customers in total in the British market.

Ofgem automatically transfers customers of energy companies that went bankrupt in the country to another energy company so that the service is not interrupted.

Additional £139 per year bill increase expected

Due to the rapidly increasing energy prices due to the recent supply-demand imbalance in the UK, an annual average increase of 139 pounds per household is expected to be reflected on the bills in October this year.

According to the regulation implemented by the British inspection agency Ofgem, energy companies in the UK can increase the bills of consumers using the standard tariff up to a maximum of 1138 pounds per year.

The upper price limit in the regulation aimed at protecting consumer rights by the supervisory body is planned to be increased to 1277 pounds in October.

The upper price limit on consumers' energy bills in the UK was implemented for the first time in January 2019, and the upper price limit has been re-evaluated twice a year until now.