Could one of the big six energy suppliers collapse?

The big six – British Gas, EDF Energy, E.ON UK, npower, ScottishPower and SSE – retain around seven in ten customers in the UK market so if any of them were to experience similar difficulties, the repercussions could be huge.supports HTML5 video

Households whose suppliers fail are being transferred automatically to an alternative provider but it’s thought this system would come under severe strain if any of the energy giants were to go. ‘We are always looking at ways in which the system might be vulnerable but we are also increasingly confident that what we have now can see us through the winter.’

‘There are a lot of companies in the market that have sprung up quite recently, there’s been some great competition in the UK market, consumers have benefitted,’ he said. ‘The big uncertainty we have at the moment is around price. Prices are up 1000% already in 12 months.’

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