supplier collapses

​Ofgem has issued non-domestic energy supplier Delta Gas and Power with a Provisional Order, due to concerns about its financial position.

​Octopus Energy is to take on Bulb’s 1.5 million customers, as it wins out in buying the failed supplier.

​So Energy is looking to raise £50 million in capital as the energy sector remains volatile.

​Octopus Energy is reducing its standing charge for those on its variable tariff by 4% to provide additional support for consumers ahead of energy bills jumping in October.

​Ofgem has confirmed that the Default Tariff Price Cap will now be set quarterly, to better reflect the costs of the wholesale market.

Ofgem has proved “incompetent as the regulatory authority” according to a new report from the Department of Business, Energy and Industrial Strategy (BEIS) select committee.

Energy UK has called on the government to rollout more help for consumers with energy bills following predictions that the price cap will surge again.

​Bulb’s CEO and co-founder Hayden Wood is to leave the company at the end of July.

Ofgem’s approach to licensing and monitoring increased the risk of supplier failures, a new report from the National Audit Office (NAO) has found.

​Octopus Energy has called for more rigorous market reforms to protect customer money without inflating bills.