Bulb Energy, which supplies 1.7m customers, collapses into administration

Bulb Energy has collapsed into administration, the company said on Monday.

The energy regulator will rescue Bulb’s 1.7 million customers after drawing up plans over the weekend to put the company into a special administration.

A Bulb spokesperson said: “We’ve decided to support Bulb being placed into special administration, which means it will continue to operate with no interruption of service or supply to members. If you’re a Bulb member, please don’t worry as your energy supply is secure and all credit balances are protected.”

More to follow …