Guest
Guest
Sep 24, 2021
12:13 AM
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Avro Energy and Green have collapsed, becoming the latest firms to be brought down by the sharp rise in gas prices.
Combined with other recent failures, it means 1.5 million people are now facing a switch to a new, more expensive firm.
All affected customers will continue to receive energy while a new supplier is appointed by regulator Ofgem. Its price cap limits how much firms can charge. superslot wallet
Ofgem's boss earlier warned the rise in gas prices was "unprecedented" and meant more firms would go bust,
Avro Energy, the biggest supplier to exit the market so far, has 580,000 customers, while Green has 250,000.
Green, which employs 180 people, blamed "unprecedented market conditions and regulatory failings" for its collapse.
Since the sharp rise in wholesale gas prices - which firms complain they are unable to pass on to customers because of the price cap on energy bills - a number of small companies have collapsed.
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