Bulb Energy news – Firm collapses into administration as 1.7m customers urged not to panic about supplies

BULB has fallen into administration, with around 1.7million customers affected.

It is believed that the collapse of the energy firm will cost tens of millions of pounds for taxpayers.

Providers have been struggling to cope with soaring wholesale energy prices.

According to Sky News, 1,000 jobs could also be at risk with the collapse of Bulb.

Bulb is the biggest provider by far to go under, with several other smaller firms struggling amid rising wholesale energy costs.

Since the summer, at least 12 providers have gone bust – with Utility Point and People’s Energy the first of the list of small providers to go.

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