A “special administration” is to be introduced in the company. This procedure is designed to protect the customers of an insolvent company. A special administrator is due to be appointed shortly. He is required by the government to continue supplying energy to customers and will protect their credit balances.
The company ensures that it will operate without any interruptions in the provision of services or supplies to members. He ensures that energy supplies will continue. “We are expecting a large number of calls today, so please only call in an emergency, in a difficult situation or in case of problems with the payment of the bill. That way we can help those who need it most during this time. Remember that the response time will be longer than usually “- the company states in a press release on its website.
The company was founded in 2015. She managed to get 6 percent. market in Great Britain. “We thought that energy consumers deserved a better offer. We strongly believed that we should do things differently, and by building a talented team and creating our own technology, we can make energy simpler, cheaper and greener” – inform the company’s representatives.
Investors were ready to finance its business plans and future development until the energy crisis hit. Now wholesale prices are very high, while price caps are being set to protect customers. The company emphasizes that in the current situation, suppliers deliver energy with significant losses.
“Wholesale prices have skyrocketed and are still very volatile. The scarcity of gas supplies, coupled with lower Russian exports and increased demand, keep them high and unpredictable,” says Bulb.
The company has expanded into France, Spain and Texas in the past. “Our multinationals in France, Spain and Texas will continue to trade. They are separate from Bulb UK and the establishment of a” special administration “in the UK has no immediate impact on them, the company said in a press release.