British Energy Firms On The Brink Of Collapse, Reveals Report

Half of Britain’s energy suppliers face an existential risk after the “Beast from the East” tore through the balance sheets of the industry’s small players.

Thousands of energy customers could be left in limbo due to a high risk that around 10 of the most fragile suppliers are on the brink of going under.

Many hundreds of thousands more bill payers face the risk of sudden ­energy tariff hikes because almost 40 suppliers may be forced to squeeze their customers to survive.

The startling strain endured by the industry in the wake of the volatile winter energy market is laid bare in leaked proprietary data compiled by one of the City’s top analytics firms, Dun and Bradstreet.

The report, seen by The Sunday Telegraph, ranks 37 of Britain’s 81 energy suppliers as being at risk. Eight are identified as being on the brink of failing based on forensic analysis of company financial accounts and trade payments.

The dire health warning underlines the struggle of energy suppliers, which have endured a winter of price spikes not seen in six years, and face the threat of the Government’s looming energy price cap later in the year. […]

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via The Global Warming Policy Forum (GWPF)

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May 27, 2018 at 09:44AM

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