BULB energy customers in Worcester have been reassured despite the firm becoming the latest energy company to collapse.
Bulb Energy, which has 1.7million customers across the UK revealed it would enter administration earlier today (Monday).
It’s the largest UK energy company to face difficulties following a sharp rise in wholesale gas prices this year.
However, unlike some of its fallen competitors, Bulb will be placed into a ‘special administration’, where it is run by the Government through the regulator Ofgem.
“Customers of Bulb do not need to worry – Bulb will continue to operate as normal,” Ofgem said.
“Customers will see no disruption to their supply and their account and tariff will continue as normal. Bulb staff will still be available to answer calls and queries.”
The measure is only used if Ofgem is unable to find another company to take over an energy firm’s customers. The regulator said it would ask to appoint an administrator who will run the company.
Under the scheme, the government can make grants and loans to the company while its future is sorted out.
