Energy companies bust – live updates: Bulb seeks emergency cash injection while Octopus tell customers ‘don’t panic’

Price hike

Millions of Brits face a £400 hike in their gas and electricity bills this winter as the energy crisis deepens.

Families whose supplier goes bust face being bumped up onto much higher tariffs when they’re switched to a new provider.

Ministers have admitted it’s “not going to be possible” to “guarantee” that households will be able to keep the cheapest rates.

The energy price cap, which limits what firms can charge, has been set at £1,277 for the next six months.

But that’s at least £400 more than many families on the lowest tariffs.


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