Gas and electricity prices have risen and many energy companies have gone bust – find out what this means for you and what help is available if you’re struggling.
There’s a shortage of gas and electricity and countries are reducing their imports from Russia, so energy companies are having to pay more to buy it. This means suppliers have to raise the price of their tariffs to cover the increased cost.
Some suppliers haven’t been able to afford the rise in energy prices, and have collapsed as a result.
As of 26 July 2022, here are the energy suppliers that have gone bust, plus the companies that have taken on their customers.
|When||Old supplier||New supplier|
|09 July||UK Energy Incubator Hub (UKEIH)||Octopus Energy|
|18 February||Whoop Energy||Yü Energy Retail Limited|
|18 February||Xcel Power Ltd||Yü Energy Retail Limited|
|18 January||Together Energy Retail Ltd||British Gas|
|4 December||Zog Energy Limited||EDF|
|1 December||Entice Energy||Scottish Power|
|1 December||Orbit Energy Limited||Scottish Power|
|21 November||Neon Reef Limited||British Gas|
|21 November||Social Energy Supply Ltd||British Gas|
|7 November||CNG Energy Limited||Pozitive Energy|
|7 November||Omni Energy Limited||Utilita|
|7 November||MA Energy Limited||SmartestEnergy|
|7 November||Zebra Power Limited||British Gas|
|7 November||Ampoweruk Ltd||Yü Energy|
|7 November||Bluegreen Energy Services Limited||British Gas|
|21 October||GOTO Energy||Shell Energy|
|17 October||Daligas||Shell Energy|
|17 October||Pure Planet||Shell Energy|
|17 October||Colorado energy||Shell Energy|
|3 October||ENSTROGA||E.ON Next|
|3 October||Igloo Energy||E.ON Next|
|3 October||Symbio Energy||E.ON Next|
|22 September||Avro Energy||Octopus Energy|
|22 September||Green Supplier Limited ('Green.')||Shell Energy|
|14 September||People's Energy||British Gas|
|14 September||Utility Point||EDF|
|7 September||PFP Energy||British Gas|
|7 September||MoneyPlus Energy||British Gas|
|9 August||Hub Energy||E.ON Next|
That depends on what type of tariff you’re on, the standing charge and the unit rate (the price of each kWh of electricity and gas).
If you’re on an SVT, you’ll also need to consider that the energy price cap could affect how much you pay each month. The price cap could push the maximum cost up to £1,971 a year (around £164.25 per month) if you’re on a standard variable rate, or up to £2,017 a year (about £168.08 per month) for prepayment customers.
If you don’t want to switch, you could ask your supplier whether you can keep your current energy tariff.
If not, you’ll need to search for a new energy provider and let your current supplier know that you’re moving home. Don’t forget to submit an energy meter reading the day you move out and give your current supplier your new address so you’ll receive your final bill.
Most comparison sites have stopped comparing energy tariffs as there aren’t enough options that provide you with a good deal.
But you can still switch your energy tariff by going directly to the provider, or with our friends at Energylinx (a part of the Future group).
You can still move energy suppliers, but the higher tariff costs mean you’ll likely be paying more than you were before you switched.
Rising energy costs affects all customers, including those on a prepay tariff. This means that the amount you top up by might not get you the same amount of gas or electricity as before.
If you’re on a prepayment standard variable tariff, the energy price cap might offer some protection as you can’t be charged above its maximum limit.
You can still compare energy deals online or even go directly to suppliers, but it’s unlikely you’ll be able to find a competitive deal right now.
Unless your supplier has gone bust, you might be charged an exit fee if you leave your current tariff early.
The government has stated that “we have one of the most reliable and diverse energy systems in the world” so the UK should be fine over winter as it isn’t solely relying on gas imports.
You should talk to your energy supplier first and see what it can do to help. You can also get help from Citizens Advice if you’re struggling.
There are a few schemes that can help you with your energy bills:
Some tips for cutting back on your energy usage include: