Five more small energy firms could go bust as industry regulator Ofgem chases missing payments – Daily Mail

Five more small energy firms could go bust as industry regulator Ofgem chases £7million in missing payments

  • Five more energy suppliers could go bust as Ofgem chases them for payments
  • It comes as the energy price cap was raised by £139 per year yesterday
  • The energy crisis has seen 12 suppliers go bust this year, nine in the last month



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Five more small energy suppliers may be on the brink as industry regulator Ofgem chases them for £7million in missing payments.

It came as the energy price cap was raised by £139 a year yesterday in a blow to millions of households, with the winter heating season beginning. 

The crisis in the energy market has seen 12 suppliers go bust so far this year, nine of them last month.

Five more small energy suppliers may be on the brink as industry regulator Ofgem chases them for £7million in missing payments

Five more small energy suppliers may be on the brink as industry regulator Ofgem chases them for £7million in missing payments

Five more small energy suppliers may be on the brink as industry regulator Ofgem chases them for £7million in missing payments

The payments Ofgem is seeking from the five firms are for the renewables obligation programme, and falling behind on these can be a sign that a company is in trouble. 

The scheme is designed to support green power projects and requires suppliers to demonstrate they have sourced enough of their electricity from renewable resources.

Ofgem said the firms had missed the initial deadline of September 1 and none had made any guarantees that they would make the necessary payments by the new cut-off date of October 31. 

If they do not pay, the regulator said it ‘could start the process of revoking their licences to supply energy’.

The payments Ofgem is seeking from the five firms are for the renewables obligation programme, and falling behind on these can be a sign that a company is in trouble

The payments Ofgem is seeking from the five firms are for the renewables obligation programme, and falling behind on these can be a sign that a company is in trouble

The payments Ofgem is seeking from the five firms are for the renewables obligation programme, and falling behind on these can be a sign that a company is in trouble

It added: ‘In all instances Ofgem will seek to secure the best outcomes for consumers and the wider energy market.’

Ampoweruk owes the most, according to Ofgem, with an outstanding bill of £3.6million. Goto Energy owes £2.5million, while Colorado Energy owes £883,000.

Business-only provider Whoop Energy owes £56,300 and Home Energy Trading £2,500.

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