The NTI newsroom believe in bringing you the best and most relevant news for our glorious profession, so have been sticking to our policy of only reporting on one in nine collapses of energy companies, so splattered across the airwaves have they recently been.
So, with the announcement 15 minutes ago that Bulb Energy, which has 1.7 million customers, has been placed in special Administration, it was our turn to report it to you (before you hear from the Metro or the Evening Standard that "Bulb Is In Bankruptcy"). As you well know energy companies have been collapsing at unprecedented rates. So far, more than two million customers have been affected since the beginning of September 2021, with energy companies going down faster than a French submarine deal in Australia. Of course, this is to do with a massive hike in energy prices globally and new-start energy companies not being able to meet the deals they previously announced to customers.
The record spike in energy bills has caused 21 suppliers to collapse since the start of September, leaving the regulator to find a new supplier to take on more than two million customers. Now the number is 3.7 million households affected, so Ofgem has advised we all put our turkeys on a very low light around 20 December and use less gas. Good advice from a Government body that so clearly has the whole situation under control.