Will this council-backed energy firm be the first to ‘collapse’ in 2022?

Together Energy could reportedly run out of funding by the end of January

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An energy firm in Glasgow could reportedly become the first casualty of the ongoing energy crisis for the new year.

Sky News reported Together Energy, which is half-owned by Warrington Borough Council, could face collapse by the end of this month as its money taps are running dry.

Professional services firm Alvarez & Marsal reportedly plans to conclude its search for capital injection as it is believed that there is no rescue deal on the horizon.

The energy supplier with a workforce of 200 has currently 170,000 customers.

In September 2020, Together Energy bought the domestic customer base of troubled council-run supplier Bristol Energy in a deal worth £14 million.

Last year the energy market saw the collapse of 26 firms.

ELN has approached Warrington Borough Council, Together Energy and Alvarez & Marsal for a response.

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