Gas and electricity prices are rising and energy companies are going 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, so energy companies are having to pay more to buy it. This means they have to raise the price of their tariffs in order 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 4 October 2021, here are the energy suppliers that have gone bust, plus the companies that have taken on their customers.
|When||Old supplier||New supplier|
|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 around £106 per month if you’re on a standard variable rate, or about £109 for prepayment customers.
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 Energylinx.
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 is working with the energy industry to resolve the supply issues and have stated that “consumers should not worry about their energy supply”.
You should talk to your energy supplier first and see what it can do to help. The government and Ofgem have introduced emergency measures and 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: