Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

UK's Ofgem appoints Octopus Energy to take on collapsed Avro Energy's customers

09/26/2021 | 09:40am EDT

(Reuters) - Britain's energy regulator Ofgem said on Sunday it had ordered Octopus Energy to supply power to about 580,000 domestic customers of Avro Energy, which ceased trading as of last week.

Ofgem also said that outstanding credit balances, including money owed to both existing and former Avro Energy customers will be honoured.

Domestic customers will also be protected by the energy price cap with Octopus Energy and energy supply will continue as normal, Ofgem added.

In a statement https://octopus.energy/press posted to its website, Octopus Energy said it is hoping to work with Avro's administrators "to make the process as seamless as possible"

Octopus also reassured customers that their energy supply will be maintained and money is safe.

Avro Energy, along with Green Supplier Limited, stopped trading last week, leaving more than 800,000 customers potentially facing higher bills, after a jump in natural gas prices pushed the sector to the brink.

(Reporting by Juby Babu in Bengaluru; Editing by Toby Chopra)


© Reuters 2021
Latest news "Economy & Forex"
03:22aChina coking coal, coke futures surge to record highs on supply woes
RE
03:22aChina coking coal, coke futures surge to record highs on supply woes
RE
03:17aAustralia's Aristocrat Leisure makes $2.9 billion bet on online gambling provider Playtech
RE
03:16aChina's power woes may worsen as demand surges amid coal supply lag
RE
03:16aChina refinery throughput hits 16-month low as quota, power crunch bites
RE
03:15aJGB yields track U.S. yields higher ahead of 20-year note auction
RE
03:13aStellantis, LGES to form battery JV for North American market
RE
03:12aEuro zone bond yields rise amid global rate repricing
RE
03:12a'CEMENT MOUNTAIN' : China's rocky road on biodiversity beyond rosy UN summit
RE
03:12aUmicore lowers profit forecast as chip shortage bites
RE
Latest news "Economy & Forex"