About 160,000 UK customers face potentially higher energy bills after a budget supplier closed down, blaming rising energy prices. GB Energy Supply ceased trading this weekend, leaving many faced with the possibility of higher charges unless they ask for the cheapest deal from their new supplier. The energy watchdog, Ofgem, will oversee a new firm being appointed for GB Energy’s former customers that will best protect their interests. Rachel Fletcher, Ofgem’s senior partner for consumers and competition, said: “If you are a customer of GB Energy Supply there is no need to worry as we will ensure your energy supplies are safe. “Although GB Energy Supply has gone out of business, customers don’t need to worry,” said Victoria MacGregor, director of energy.

Source: The Guardian November 27, 2016 08:48 UTC