BBC News - Bluegreen is the latest energy firm to go bust
Very sad, but again, very small energy companies whom I suspect most U.K customers will never have heard of anyway and with very few customers.
I hope OFGEM migrate those affected swiftly, though I suspect none of them will be handed over to Bulb.
And another one bites the dust:
CNG Energy becomes latest UK supplier to collapse | Evening Standard
Oof, the government surprisingly not in favour of private enterprise I see
Or maybe theyāve finally realised how it works!
Utility Warehouse agrees to pay Ā£1.5m for failings around customers in debt (msn.com)
Almost half UK energy suppliers have now gone bust in energy crisis | Evening Standard
Everything seems to have gone quiet on the Bulb front, despite rumours of imminent collapse.
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Too big to fail though, so theyāre continuing to run it as normal - not moving customers (yet). I think Bulb will stay in some shape or form eventually.
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I read this and thought it was over aggressive. Who is the mystery āsenior industry sourceā who wonāt go publicly on the record?
Iām no defender of bulb, but there are 20+ other energy companies that went bust and lots of them much more quickly, so it seems odd to do a takedown on bulb specifically when itās pretty obvious itās the whole industry and regulation thatās without a paddle.
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As Iāve mentioned a bunch, the government capped the ability of these companies to make a profit in tough times for public opinion points and now wonāt subsidise them to keep them afloat which at the end will lead to zero competition. Every company selling energy right now is amassing a hefty loss in the U.K.
Good job they made huge profits in the past then?
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Isnāt it just the big six left now for energy.
Pretty much, I think.
No, Iām with Zog Energy for gas and they still seem to be clinging on. I managed to fix for two years at 3.25p/kWh back in August.
They claim to have hedged adequately, but weāll seeā¦
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Yeah because thatās saved them and thatās why theyāre all afloat now on historical profits
Spoke too soon. Just announced that they have ceased trading 
From their website:
Throughout our time we have invested in the best value technology to keep costs down and purchased our gas in advance from Contract Natural Gas Ltd to keep the promise we made to customers to supply simple cheap domestic gas.
However, Contract Natural Gas Ltd has withdrawn from the wholesale market and ceased to trade. Unfortunately the administrators of Contract Natural Gas Ltd are unwilling to transfer the gas hedges we had previously agreed. This has put us in an untenable position of having to purchase gas at the current market rate and we have no choice but to cease to trade.
At least it seems they really did plan for the unforeseen but got screwed by someone not holding their end of the bargain.
But most businesses donāt really have the cash to absorb such a hefty cashflow issue where theyāve paid for a large amount of stuff and then had it rug pulled and get told they have to pay again at a hefty premium when theyāre not allowed to pass any cost increases in business to customers.
Not to be too political, but the government has handled this energy crisis with the skill of a toddler trying to push shaped bricks through holes for the first time. They should just nationalise the market at this point.
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