Administrators appointed for latest energy supplier collapse

The move follows the UK Energy Incubator Hub’s decision to cease to trade a few days ago

Big Zero Report 2022

Administrators have been appointed to UK Energy Incubator Hub, the company that recently exited the UK’s energy retail market.

A few days ago, Ofgem announced 3,500 customers of the failed supplier will be transferred to Octopus Energy.

Last week, UK Energy Incubator Hub was issued with a Final Order in relation to Ofgem‘s ongoing fit and proper requirement.

Howard Smith, Joint Administrator and Managing Director at Interpath Advisory, said: “Our priority over the coming days is to work closely with Octopus to ensure a smooth transition for all customers.”

Citizens Advice had previously reported that collapses of energy companies could potentially add an estimated £164 to customers’ bills.

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