Ofgem preparing for emergency rescue of big energy suppliers – The Times

The energy regulator has hired a City firm to act as special administrator in case a major supplier needs to be rescued.

Ofgem has put advisers at Teneo on standby following the collapse of nine energy suppliers serving more than 1.7 million households in the past month.

Supply concerns have mounted following the collapse of Igloo Energy, Symbio Energy and Enstroga yesterday. Forecasts of cold weather have also raised the alarm as the official winter gas season starts tomorrow, when heating demand rises.

The price of natural gas in Britain increased to another high today as contracts for next month rose above 238p per therm. The day-ahead contract was 26p higher at 204p per therm. European natural gas and power prices also hit fresh records

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