Eleven more energy suppliers set to go bust pushing bills up to £2,000 a year

Price Bailey partner Matt Howard called the growing crisis “complete carnage”.

"Every time a supplier goes bust the costs of the remaining suppliers increase, which makes those businesses more vulnerable." As surviving companies take on millions of customers from failing companies their profits are squeezed, which will mean prices will have to rise for the next 12 to 18 months."

Andrew Lindsay, co-chief executive of Telecom Plus, which trades as Utility Warehouse, said: “Consumers face a cost running into billions of pounds to tidy up the mess.”

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