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Pure Planet and Colorado Energy have both ceased trading, Ofgem has confirmed today meaning 250,000 customers will have to be moved by the regulator to a different supplier.
Ofgem, the energy regulator, is braced for a fresh wave of supplier collapses this week as the crisis engulfing the industry continues to accelerate.
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The UK has been shaken by the recent news of the energy market crisis. The main reason for the crisis is that wholesale prices of gas have increased by 250% since January, and by 70% since August. This graph shows the hike in gas prices. Stuck between these increased costs…