Co-op energy chief predicts more small suppliers could go bust

David Bird of Co-op, which took customers from collapsed GB Energy, urges Ofgem to stress-test proliferating new firms

More small energy firms could go bust this winter because of increasing price volatility driven by green energy growth and the closure of Britain’s largest gas storage plant, one of the challenger suppliers has warned.

David Bird, chief executive of Co-operative Energy, said that the regulator Ofgem needed to set financial stress tests for new market entrants, to reduce the risk of firms folding and customers being left in the lurch.

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