Orbit becomes latest UK energy supplier to go bust

orbit becomes latest uk energy supplier to go bust

Sumary of Orbit becomes latest UK energy supplier to go bust:

  • Another UK energy supplier has gone bust, following the collapse of Bulb earlier this week, bringing the number of households affected by a supplier failure closer to the 4m mark.
  • Orbit Energy confirmed it was the latest casualty of the energy market crisis.
  • It is the 24th supplier to have fail in fewer than 12 weeks, as companies unable to withstand higher wholesale prices go under.
  • The latest collapse was announced by the energy regulator Ofgem in a tweet that also named Entice Energy – but the post was later deleted.
  • It added: “Ofgem, the energy regulator, is appointing a new supplier for its customers.
  • ”The latest collapse comes after Bulb on Monday became the largest UK energy supplier to go bust, and on Thursday morning was handed to a special administrator that will continue to supply its 1.7 million customers over the winter.

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