To lose one energy supplier ...

The loss of an energy supplier this winter is not surprising. There are around 40 players in the market, many with little experience. Fresh ideas are very welcome. But some are clearly poorly hedged and, crucially, don’t have the backing that would give them the ability to ride out market changes. Companies need to have not only a backer with deep pockets but also access to credit lines, to enable them to trade efficiently and if necessary at short notice.