Labour has called for a windfall tax on North Sea Oil and Gas companies to help fund measures to protect households from expected energy bill increases in April.
Bluegreen Energy Services has become the first supplier to fail in November, leaving around 5,900 domestic customers and a small number of non-domestic customers to be picked up by the Supplier of Last Resort (SoLR) mechanism.
The volatility in wholesale power prices due to exposure to global gas prices has demonstrated the need to diversify and decarbonise the UK’s domestic energy system.