The chief of British Gas has predicted that more suppliers might exit in the coming months because of the pressure created by the ongoing energy crisis.
Chris O’Shea told the Financial Times: “I think we will see supplier failures”. Mr O’Shea admitted that some companies were trading while technically insolvent
He also warned that the government‘s scheme to subsidise rising energy bills was one of the few things that keep some of the weakest energy players afloat.
UK’s energy market was hit by a series of energy supplier collapses last year as surging energy prices left companies that didn’t have adequate capital unable to tackle the energy crisis.
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