Page 9 - Gi_November2021

industry & government news

THREE MORE UK ENERGY SUPPLIERS TOPPLED

THREE MORE ENERGY suppliers have
collapsed under the weight of rising
gas prices, taking the total number of
failures to 12 this year and forcing the
regulator, Ofgem, to find new suppliers
for a further 233,000 customer
accounts, reports The Guardian.
Ofgem said Igloo Energy, Symbio
Energy and Enstroga had become
the latest companies to succumb to
a gathering crisis that shows no sign
of abating, with gas prices remaining
stubbornly high amid international TWELVE SUPPLIERS HAVE
shortages as winter approaches. GONE BUST THIS YEAR
The regulator stressed that customers
would not suffer disruption to the Energy has taken on 580,000 left energy supplies continue. If you have
supply of energy to their homes, stranded when Avro Energy failed. credit on your Enstroga, Igloo Energy or
adding that anyone with credit in their Before the latest collapses the Symbio Energy account, the funds you
accounts with those companies would number of households supplied by an have paid in are protected and you will
not lose their money. energy company that had gone bust not lose the money that is owed to you.
But it will now have to find a new this year totalled almost two million, “Ofgem will choose a new supplier
energy provider for nearly a quarter forcing Ofgem into an unprecedented for you and while we are doing this
of a million people via its “supplier scramble to keep to the customer our advice is to wait until we appoint
of last resort” scheme, under which transfer system going. a new supplier and do not switch in
financially healthy companies take on Neil Lawrence, Director of Retail the meantime.
the customers of their collapsed rivals. at Ofgem, said: “We know this is a “You can rely on your energy supply
Firms that take on new customers are worrying time for many people and as normal. We will update you when
later compensated for their costs via news of a supplier going out of business we have chosen a new supplier, who
an industry-wide levy that is ultimately can be unsettling. will then get in touch about your tariff.
added to gas bills. “I want to reassure customers of Any customer worried about paying
In September, Shell Energy took on Enstroga, Igloo Energy and Symbio their energy bill should contact their
255,000 customers from a collapsed Energy that they do not need to worry. supplier to access the range of support
smaller rival, Green, while Octopus Under our safety net we’ll make sure your that is available.”

UK APPOINTS NEW ENERGY MINISTER AHEAD OF COP26

soaring UK power and gas prices and “Energy, clean growth and climate
unprecedented volatility in the market. change – some of the biggest
BEIS could not immediately confirm challenges and opportunities for the
whether Hands’ responsibilities would government as we approach COP26.”
remain the same as those Trevelyan had. Kwasi Kwarteng remains in position
Trevelyan was Minister for Energy, as Secretary of State for Business,
Clean Growth and Climate Change, Energy and Industrial Strategy.
with responsibility across energy Some of the near-term challenges
GREG HANDS WAS APPOINTED
JUST WEEKS AWAY FROM COP26 retail and wholesale markets and Hands will face include providing
networks, carbon budgets, low carbon further detail for the UK’s hydrogen
UK PRIME MINISTER Boris Johnson generation and security of supply, strategy around business models and
has appointed Greg Hands as the among other areas. measuring carbon intensity, justifying
new Minister of State for Energy at Hands was previously Minister a likely increase in the default retail
the Department for Business, Energy of State for Trade Policy in the tariff and securing sufficient offshore
and Industrial Strategy (BEIS), Department for International wind capacity in an upcoming
replacing Anne-Marie Trevelyan in a Trade (DIT) from February 2020 to Contract for Difference auction to get
September reshuffle. September 2021 and Minister of State on track with a 40GW target by 2030.
S&P Global Platts reports that Hands at DIT from 2016 to 2018. Hands comes with experience in the
will take over the role just two months “Trade was a great role, but so is trade and finance sector, having spent
ahead of the critical COP26 global Minister of State at the Department eight years trading and marketing fixed
climate talks in Glasgow in November, for Business, Energy and Industrial income derivatives in London and New
and his appointment comes amid Strategy,” Hands said on Twitter. York before becoming an MP.

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