The energy crisis could expose energy suppliers to around £1.9 billion of debt, much of which would be unrecoverable, according to a new report from Cornwall Insight and Complete Strategy.
Amid worsening wholesale energy prices, the financial position of the UK domestic electricity and gas supplier sector is worsening with 60% of remaining smaller energy suppliers “technically insolvent”, says accountancy firm Price Bailey.
OVO Energy has appointed Alex Doorey as VP of corporate affairs, with Doorey to be responsible for public affairs, policy, media relations and sustainability.
Following Ofgem redistributing the £58,375,203 Renewables Obligation (RO) late payment fund in December to energy suppliers, a further £384,278.28 has been recovered by the regulator.
Following the usual slow period over the festive season and “extraordinary disruption” from the Omicron variant of COVID-19, the installation of smart meters in Great Britain has picked back up.