Pure Planet, a renewable energy firm backed by oil company BP, and Colorado Energy, have become the latest energy suppliers to collapse
The figure takes the number of energy companies that have gone out of business this year to 14 after nine collapsed in the last month alone.
Pure Planet supplies gas and electricity to around 235,000 domestic customers, while Colorado Energy has around 15,000 domestic customers. The demise of the two firms now takes the number of customers affected by the wave of energy company collapses across the UK to around 2m.
While Colorado offered little detail on its collapse, in a statement Pure Planet blamed the UK’s energy price cap for its failure and lashed out at the business secretary, Kwasi Kwarteng, who has said there would be no taxpayer-funded bailouts for struggling energy companies.
Pure Planet said that the government and Ofgem expect it ‘to sell energy at a price much less than it currently costs to buy’ and that it ‘is unsustainable and therefore, sadly we have had to make the difficult decision to cease trading’.
Pure
