SEVERAL ENERGY FIRMS HAVE GONE BURST IN THE UK AT ONCE

A tendency for energy companies to close down has been reported in the UK due to the increase in gas prices Since August - five small operators have already gone burst and four more may soon be closed down as well.

The price for gas is to be blamed here - this year, its retail price has increased by 3.5 times. This circumstance led to the impossibility of the smaller market players to fully provide their customers with services.

Analysts predict a staggering decline in the number of energy companies in the region by the end of 2021.

According to BBC News, at the beginning of the year, the number of companies reached 70, and by December the figure may drop to 10.

It is noted that in such a difficult situation, the authorities did not stay away from the problems. The UK Energy Secretary has already held dozens of meetings with the industry and its regulator.

Despite this, analysts are predicting an increase in inflation and a slowdown in economic recovery of the region. In addition, at the beginning of autumn, one of the largest fertilizer producers from the United States left the British market. This happened precisely because of the energy crisis that had ‘covered’ Europe. Now a situation of food inflation may arise, as the farmers' costs are rising.