Leicestershire energy firm becomes latest victim of crisis

Leicestershire energy firm Avro has become the latest casualty of the crisis gripping the industry in the UK,

The energy supplier, based in Hinckley, has 580,000 customers that will be moved over by Ofgem.

Another supplier, Green, also collapsed yesterday, following Utility Point, People’s Energy, PfP Energy and MoneyPlus Energy which have alsi failed this month.

Wholesale gas prices have surged even since Ofgem announced an increase in the energy price cap in August, which comes in next week.

In a statement, the company said: “Avro Energy is ceasing to trade. Ofgem, the energy regulator, is appointing a new supplier for its customers.

“Customers need not worry, their supplies are secure and domestic credit balances are protected.

“Ofgem’s advice is not to switch, but to wait until they appoint a new supplier for you. This will help make sure that the process of handing customers over to a new supplier, and honouring domestic customers’ credit balances, is as hassle free as possible for customers.”