Has your gas supplier gone bust? Are you worried about your bills rising over the coming months? Will you be able to heat your home? Have your say on the current energy crisis in our latest Money poll
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Two more UK energy suppliers have gone bust among soaring wholesale gas prices.
Customers of Pure Planet and Colorado Energy, which together serve 250,000 customers, have joined a slew of firms that collapsed from the start of last month.
The chaos in the sector comes amid warnings households could see their energy bills rise by 30% next year.
Some energy firms are already charging up to £1,923 for a year of gas and electricity – £646 more than the £1,277 price cap coming in on October 1 and £785 more than the £1,138 cap now.
This cap limits the amount firms can charge the average customer on their default gas and electricity tariffs – usually variable-rate deals. However, it does not apply to fixed-rate deals, which are normally the more expensive option.
Regulator Ofgem, who set the cap limits, say it is likely that multiple firms will fold in the coming weeks due to the fact that they can’t cope with the rising cost of gas.
Are you worried about rising energy bills? Have your say in the poll below
Ofgem’s chief executive Jonathan Brearley said: “Higher energy bills are never welcome and the timing and size of this increase will be particularly difficult for many families still struggling with the impact of the pandemic.
“The price cap means suppliers only pass on legitimate costs of supplying energy and cannot charge more than the level of the price cap, although they can charge less..”
He added: “If you’re struggling to pay your bill you can get in touch with your supplier to access the help that’s available and if possible, shop around for a better deal.
“We have put tough rules in place to ensure suppliers treat customers who are struggling with bills fairly.”