Bulb Energy enters bankruptcy in the United Kingdom but ensures that its business in Spain is not affected at the moment

The energy marketer Bulb Energy has gone bankrupt in the United Kingdom and will be subjected to a special administration process to manage the consequences of the largest collapse of the energy supply ever recorded, according to the company announced in a statement.

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The UK energy regulator drew up plans over the weekend to subject the company to a special management process aimed at protecting Bulb’s 1.7 million domestic customers in this country, as reported by THe Guardian.

The company ensures it’s a statement that for the moment the businesses it has outside the United Kingdom, including Spain, will not be affected by the situation of the parent company: “Our international businesses in France, Spain and Texas will continue to operate. They are separate businesses from Bulb UK and they are not immediately affected by our entry into special administration in the UK. ” Spain was the first country to which Bulb arrived in its commercial expansion with its launch in July 2020. At that time, it pointed out that it had about 3,500 clients in Spain.

“The special administrator is designed to protect the customers of a large energy provider that has become insolvent. The special administrator is obliged by the Government, under the Energy Act of 2011, to continue supplying energy to customers, and it will protect the credit balances of the clients. The process of appointing the special administrators has not yet concluded, but we hope they will do so shortly, “the company explains.

The bankruptcy of the company was long awaited by rivals in the sector, according to The Guardian, who described it as “the walking dead”, after it tried for months to find new investors or a buyer, before the imminent winter energy crisis in the United Kingdom.

The record rise in energy bills has led to the bankruptcy of 21 suppliers in the UK since the beginning of September, forcing the regulator to find a new supplier to take over more than 2 million customers. With the fall of Bulb, 3.7 million customers will already be affected by high energy prices in the United Kingdom.


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