High gas prices are driving small, new suppliers out of business
Shell and Octopus join ‘Big Six’ in backstopping UK supplier collapses
Oil major and established independent step in as smaller new gas and power market entrants flounder
September has seen the number of 2021 bankruptcies among the UK’s gas and electricity suppliers jump from three to twelve. Energy retailers Enstroga, Igloo Energy, Symbio Energy, Avro Energy, Green, People's Energy, Utility Point, PFP Energy and MoneyPlus Energy have all folded due to a toxic combination of soaring wholesale prices, a government-imposed price cap for domestic customers that prevents firms from passing on the full extent of this volatility and in several cases, weak balance sheets and subpar risk management from fledgling market entrants. They join August departure Hub Energy and January exits Green Network Energy and Simplicity Energy (see Fig.1).
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
