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Bill payers face £2.4 billion hit from failed energy companies

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Ofgem estimates, Bill payers could face a £2.4 billion hit from the energy crisis following the collapse of multiple British energy suppliers

as part of Supplier of Last Resort rules, under which customers of collapsed suppliers are passed on to new suppliers in exchange for an Ofgem grant to cover handover costs. SoLR claims totalling £1.84 billion have already been made, Ofgem said.It comes as overall inflation is set to reach 7.4% in 2022, according to estimates by the Office for Budget Responsibility.

 

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