All the energy companies that have collapsed and which are at risk – full list

Supplier Green has become the latest gas price casualty, following on from Utility Point which collapsed last week – but is your provider at risk? We take a look

For the first time, fixed energy deals are now more expensive than variable tariffs which have always been the most expensive in the market.

Surging wholesale gas prices means cheap fixed deals have completely disappeared, with firms increasing their rates to make up for out-of-control gas prices.

But variable tariffs are controlled by the energy price cap – which means you could actually save £780 by sticking to a fluctuating tariff.

It’s all linked to a gas price crisis that’s hit the UK in recent weeks – a move that triggered the collapse of several small energy firms that struggled to cope with the higher costs.

On Wednesday, Ofgem admitted many more firms could collapse in the coming weeks. The industry forecasts the number of suppliers in the market to fall to just 10 by Christmas. That compares to 71 in January this year.

But what firms have struggled this year? We take a look at all the energy suppliers that have collapsed in the last 12 months.

If your supplier collapses, you won’t be left without gas or electricity. Regulator Ofgem says you should take a meter reading and a new supplier will be assigned to you. We’ve got more on your rights here.

Energy suppliers that have collapse in the past year

A total of 12 firms have gone into administration since September 2020.

1. Effortless – September 2020
2. Tonik Energy – October 2020
3. Yorkshire Energy – December 2020
4. Simplicity Energy – January 2021
5. Green Network Energy – January 2021
6. Hub Energy – August 2021
7. PfP Energy – September 2021
8. MoneyPlus Energy – September 2021
9. Utility Point – September 2021
10. People’s Energy – September 2021
11. Green – September 2021
12. Avro Energy – September 2021

A further 19 have gone under since 2019:

1. GB Energy – November 2016
2. Future Energy – January 2018
3. National Gas and Power – July 2018
4. Iresa – July 2018
5. Gen4u – September 2018
6. Usio Energy – October 2018
7. Extra Energy – November 2018
8. Spark Energy Supply Limited – November 2018
9. OneSelect – December 2018
10. Economy Energy – January 2019
11. Our Power – 2019
12. Brilliant Energy – March 2019
13. Cardiff Energy Supply – August 2019
14. Solarplicity – August 2019
15. Eversmart – September 2019
16. Rutherford Energy – October 2019
17. Toto Energy – October 2019
18. Breeze Energy – December 2019
19. Gnergy – March 2020

What firms are at risk right now?

Ofgem itself has said multiple firms are expected to collapse in the coming weeks due to the fact that they can’t cope with the rising cost of gas.

While it’s difficult to pre-empt which ones are struggling, there’s speculation that Igloo Energy and Bulb are both in crisis talks.

Will the energy price cap rise again?

Yes, it’s more than likely if not to already set in stone. Around 15 million households across Britain will be hit with a £178 annual hike on their energy bills as the price cap is set to soar to another record high from April, analysts have said.

Experts at research agency Cornwall Insight expect that the price cap will be hiked to £1,455 for the typical household.

It comes after the cost of gas on wholesale markets rocketed at unprecedented rates, up 70% since August and 250% since the beginning of the year, according to trade body Oil & Gas UK.

The price cap is reviewed by regulator Ofgem every six months based on a set of rules.

April’s level would be a 14% increase on the already record-setting £1,277 that is set to come into force from next Friday.

It is also £317 per year higher than current levels.

Cornwall Insight senior consultant Dr Craig Lowrey said: “Although the winter 2021-22 cap was a new record (£1,277 for a typical dual fuel direct debit customer), Cornwall Insight modelling indicates that – given the extent of the increases in the wholesale market and the manner in which the cap is set – this is set to be surpassed by that for summer 2022.”

He added: “We would need to see a material and sustained reduction in the wholesale market to avoid the kind of cap levels we are predicting for the period.”

Dr Lowrey’s team also predicted that high prices are likely to stick around. The cap will drop slightly next winter, but only to £1,416, which would be the second highest level on record by some distance.

The spike in the forecasts demonstrates the unexpectedly large upswing in gas prices in recent months.

As recently as July, Cornwall Insight had predicted the cap to be cut to £1,251 in April, and further down to £1,219 for the winter of 2022.

Predictions are based on the current wholesale prices of gas and electricity. Any changes to those prices will be taken into account by Ofgem when it announces the next price cap early in 2022.

The price cap is not an overall cap on how much a household can pay for its energy bills – households that use more energy will pay more. The level is calculated based on the usage of a typical household that buys both gas and electricity.