The scale of support announced for Bulb Energy makes no sense unless the whole domestic energy market is facing collapse

25th November 2021

Newsflash - 6.00pm
Entice and Orbit become latest energy firms to go bust adding to the list below.

The well known expert Richard Murphy on many financial matters has researched the current crisis in the energy market in relation to the collapse of Bulb. He highlights how the problems were indicated in the last accounts which can be seen at companies house.

He highlights the items the Financial Times -
UK ministers will put up £1.7bn of taxpayers' money to continue running the failed energy supplier Bulb while it is managed by administrators on the government's behalf over the winter.

Bulb, which was Britain's seventh-biggest supplier, with 1.6m customers, admitted this week that it was supporting the process of being placed into "special administration", a mechanism to protect customers of a large supplier when it becomes insolvent.

He says,"I have already analysed the last available accounts of Bulb. They are not pretty. But, to suggest that they required a capital injection of £1.7bn seems far-fetched, based on what is available on public record.

To put this in context, that level of support amounts to £1062.50 per customer on the basis of the above data, or about half a year's energy bills for each of them given current prices."

To read his full analysis of the issue and comments from readers go HERE

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The Energy Companies Collapsed so far - Switching to save is no more.
PfP Energy - September 2021
MoneyPlus Energy - September 2021
Utility Point - September 2021
People's Energy - September 2021
Green - September 2021
Avro Energy - September 2021
Igloo Energy - September 2021
Symbio Energy - September 2021
ENSTROGA - September 2021
Pure Planet - October 2021
Colorado Energy - October 2021
Daligas - October 2021
GOTO Energy - October 2021
Bluegreen Energy Services Limited - November 2021
Omni Energy Limited - November 2021
MA Energy Limited - November 2021
Zebra Power Limited - November 2021
Ampoweruk Ltd - November 2021
CNG Energy - November 2021
Neon Energy - November 2021
Social Energy Supply - November 2021
Bulb - November 2021 (in administration but will continue to operate normally under them for now due to the huge subsidy from the taxpayer)