The UK energy industry is facing a wave of bankruptcies amid a gas supply crunch that has sent electricity prices soaring, leaving suppliers vulnerable. Since the start of the year, seven electricity suppliers in the country have gone under, Bloomberg reports, because of failing to hedge against price hikes. This meant that they sold electricity to clients at lower prices than the current ones. They must now buy it expensively and then sell it cheaply, which is the fastest way to bankruptcy. As a result, the industry has called on the government…
Hence then, the article about gas crunch threatens uk energy industry with wave of bankruptcies was published today ( ) and is available onOILPRICE ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Gas Crunch Threatens UK Energy Industry With Wave Of Bankruptcies )