High wholesale prices mean customers will struggle to find better deals than offered by their now defunct supplier
About 160,000 UK households are to face higher energy bills in the new year after the collapse of GB Energy.
The three year-old gas and power supplier, which pulled in customers with cheaper tariffs, blamed “swift and significant increases in energy prices” for its failure. The company’s demise creates uncertainty for its account holders, but they are not at risk of being cut off as the industry regulator Ofgem is expected to have brokered a move to an alternative supplier.