UK Steps In As Lights Go Out On Energy Firm Bulb
NDTV
Britain's seventh-biggest supplier entered so-called "special administration", becoming the largest of more than 20 UK energy suppliers to collapse since the beginning of September.
UK energy supplier Bulb collapsed on Monday, triggering special intervention from the government to protect the 1.7 million households it serves.
Britain's seventh-biggest supplier entered so-called "special administration", becoming the largest of more than 20 UK energy suppliers to collapse since the beginning of September.
The companies have been hit by surging wholesale prices for gas and electricity which they have been unable to pass on to consumers due to UK government price caps.
"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," the company said in a statement.
