UK Treasury urged to allow failed energy firms to hedge
Bulb can’t buy wholesale electricity and gas more than two weeks in advance, leaving it exposed to price hikes
Energy experts have voiced concerns over a UK Treasury policy that prohibits entities under special administration, such as Bulb Energy, from hedging potential rises in wholesale gas and electricity prices.
The policy has left the energy firm which provides gas and electricity to 1.6 million customers unprotected against rises in wholesale gas and electricity markets – leaving taxpayers to bear the brunt of any losses.
Tom Eckersley, a former head of hedging at People’s Energy, which collapsed
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