Small energy companies risk going bust in financial shock

August 18, 2019

Thousands of homes could lose their energy supplier in the coming months as a result of a financial shock looming over the industry's smaller companies.

Suppliers are due to pass on millions of pounds worth of renewable energy subsidies, collected via energy bills, to the energy regulator, Ofgem, by the end of the month.

This deadline has in the past proved fatal for finantially unstable energy suppliers, and it is feared that a string of collapses may follow in the coming months. Suppliers have untill 31 August to pay their share of the renewable subsidies, or can opt to pay the amount owed- plus interest- by 31October.

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