Two More UK Energy Firms Go Bust Amid Record Power Prices

Two more energy suppliers have gone bust, leaving 500,000 customers needing a new provider, amid record prices for electricity and gas. Both Utility Point and People’s Energy have ceased trading, Ofgem has announced, the sixth and seventh energy companies to do so this year. Bournemouth-based Utility Point provided power to 220,000 customers, while London’s People’s Energy had 350,000 customers. The energy watchdog will now appoint a new supplier to take on the households after the market failures. Last week PfP Energy and Moneyplus…