Three more British energy suppliers have ceased to trade, regulator Ofgem said on Wednesday, leaving more than 230,000 customers facing the prospect of higher bills.
The failure of Enstroga, Igloo Energy and Symbio Energy has taken the tally of British energy suppliers to shut this month to nine as wholesale energy prices have hit record highs.
The price for households of the most widely used energy tariffs are capped in Britain, meaning some smaller firms with less capital to hedge customer needs on the wholesale market have struggled to keep pace with costs.
Igloo, the largest of the latest suppliers to cease trading, with 179,000 customers, said the price cap had made its business unsustainable.
“The basis on which [the cap is] calculated by Ofgem is designed to favour the largest suppliers and any calls to review this by the challenger brands, like Igloo, continue to be resisted,” Igloo said in a notice to its customers.
The price cap is reviewed twice a year using a formula made up of costs such as wholesale energy prices and environmental and social levies.
The cap will rise between 12 and 13 per cent from October 1, but wholesale prices have risen significantly since that announcement was made in August.
Ofgem said customers' outstanding credit would be protected and new suppliers would be found for their energy needs.
Customers' potential new energy costs will be covered by the energy cap but if they were on cheaper fixed tariffs, they may have to pay more with their new supplier.
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SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
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- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
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Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
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Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
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Friday Sassuolo v Torino (Kick-off 10.45pm UAE)
Saturday Atalanta v Sampdoria (5pm),
Genoa v Inter Milan (8pm),
Lazio v Bologna (10.45pm)
Sunday Cagliari v Crotone (3.30pm)
Benevento v Napoli (6pm)
Parma v Spezia (6pm)
Fiorentina v Udinese (9pm)
Juventus v Hellas Verona (11.45pm)
Monday AC Milan v AS Roma (11.45pm)
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UAE Tour 2020
Stage 1: The Pointe Palm Jumeirah - Dubai Silicon Oasis, 148km
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Stage 4: Zabeel Park - Dubai City Walk, 173km
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
The%20specs
Anghami
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Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
Our legal consultant
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3) Be aware of people asking to test drive the car alone
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Inside%20Out%202
Our family matters legal consultant
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Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
