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Energy firm failures could cost consumers £164 extra a month

ENERGY firm failures could mean consumers paying £164 extra every month on top of soaring energy costs, according to a new report. 

The bill for a wave of supplier failures has continued to mount, with estimates now putting the figure at an eye-watering £4.6 billion, according to charity Citizens Advice. 

This means energy consumers could be forced to fork out an extra £164 per month to foot the ever-growing bill associated with the collapse of 28 energy suppliers over the past year and the government’s £1.7bn bailout of Bulb. 

The report, published today, also found that supplier failures have resulted in customers experiencing aggressive tactics from unregulated debt collection and receiving inaccurate bills due to poor data management. 

Citizens Advice chief executive Dame Clare Moriarty said an overhaul is needed before the winter.

“The government must improve the supplier failure process and ensure people who’re struggling aren’t chased for debts or left in limbo when they’re waiting for a refund,” she said. 

The charity has called on the government to urgently review how different outcomes of the sale of Bulb may affect customers to prevent bills from spiralling out of control.

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