Energy retail

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The special administration of Bulb will be backed by a £1.7 billion government loan. Approving the unprecedented use of the special administration regime, a judge said state backing was of "existential importance" to continue supply to Bulb's 1.7 million customers.
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The government should consider picking up the tab for Last Resort Supply Payment claims to spread out the costs of the industry levy and protect consumers from a sharp increase in energy bills next year, Energy UK’s deputy chief has stated. Audrey Gallacher, who also serves as the trade body’s director of policy, made the suggestion after Bulb became the first supplier to enter the special administration regime earlier this week.
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Energy suppliers outside of the largest seven would be “mad” not to question their future in the domestic retail market after the recent turmoil, an industry expert has suggested. Ellen Fraser, energy retail partner at Baringa Partners, said they should ask whether they are "going to have to take so much of a loss that the payback period is not worth it."
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The government has made a “mess” of the energy retail market and must now “live with it” after Bulb become the first supplier to enter the special administration regime, an industry boss has stated. Ecotricity chief executive Dale Vince said it is a "very good thing" the government will be confronted with the reality of operating in the market it helped to create.
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Bulb has confirmed it will enter the special administration regime (SAR), becoming the first energy supplier to do so. The company, which serves 1.7 million customers, was revealed to have been in talks with an investment bank earlier this year. It will be the single biggest failure the market has seen, eclipsing that of even Avro Energy which failed earlier this year with 580,000 customers.
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British Gas has been appointed by Ofgem to take on the customers of failed suppliers Neon Reef and Social Energy Supply. The two companies, which leave behind a combined total of approximately 35,500 domestic customers, ceased trading last week and took the total number of exits via the supplier of last resort (SoLR) process so far this year to 24.
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Latest in Energy retail

Phil Bentley could leave British Gas with up to £13 million in salary, bonus, pension and shares, according to the Daily Mail. The paper criticised the potential windfall, noting that customer bills had nearly doubled during Bentley's reign.
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Want to start up a company selling electricity to the business market? It's easy, Hudson Energy UK's Steve Fitzsimons tells Mathew Beech
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Consumers will have a choice on how often their energy supplier can access their energy consumption data, it was revealed today as the government published a set of rules for its smart metering programme. The government has outlined how it intends to address issues such as customer engagement, privacy and security.
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Good Energy chief executive Juliet Davenport tells Janet Wood what she is lobbying government to include in imminent Electricity Market Reform.
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