The chief executive of the company that owns British Gas has warned that another energy company could collapse this winter, potentially pushing energy bills even higher. Chris O’Shea, chief executive of Centrica, said another company could follow the string of collapses that have already help drive gas and electricity bills to record levels.
He said: “Every day they lose money, they become riskier and the more likely we’ll see the failure of a major energy supplier.”
Around 30 suppliers have already collapsed, and the cost of that is passed on to customers in higher bills. The failures added £94 to every household’s bill, reports The Mirror.
