BUSINESS LIVE: Ofgem hires special administrator as energy prices rise

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BUSINESS LIVE: Wetherspoon Reports Record Loss; Ofgem Hires Special Administrator Amid Energy Crisis; Higher prices as the new energy price cap comes into effect; Airport drop-off fees of £ 105million per year are on the rise










UK energy regulator Ofgem has hired Teneo as a special administrator in view of the potential rescue of a major supplier.

It follows the September collapse of nine energy providers, which collectively served more than 1.7 million customers, including the demise of Igloo Energy, Symbio Energy and Enstroga last week.

The energy price cap will rise by £ 139 today, a change that will let millions of households pay more for their monthly gas and electricity bills.

The hike comes at a difficult time for many, amid the end of the holiday regime, a reduction in universal credit, supply chain disruptions and rampant inflation.

Britons are likely to shell out £ 105million a year in airport drop-off zone fees, with the average charge rising to just over £ 3.50 a year, new research shows.

From November 1, Heathrow will become the last UK airport to impose a disembarkation zone fee on motorists, with a £ 5 charge introduced.

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Energy prices rise as UK regulator appoints special administrator in anticipation of major supplier collapse

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