UK Energy Suppliers Face ‘Massacre’ Amid Soaring Gas Prices

Another 20 energy providers in the UK could go bust in what looks like a “massacre” in the coming months unless the government reviews the energy price cap, the chief executive of one of the largest providers said on Thursday. More than a dozen power suppliers in the UK have exited the retail energy market in recent weeks, and more are likely to do so, as wholesale gas prices rally. Europe’s tight gas market, low wind speeds, abnormally low gas inventories, and record carbon prices have combined in recent weeks to send benchmark…