Centrica pledges to protect customers' deposits

[admin]

British energy supplier Centrica said on Thursday that it was committed to protecting its customers' deposits, standing at 294 million pounds ($400.25 million), and urged energy watchdog Ofgem to regulate that all providers must protect consumers' money. Soaring prices over the past year have forced about 30 British energy suppliers to exit the market, with 26 going bankrupt since August 2021. "The current UK energy market crisis has seen a large number of suppliers use customers’ credit to fund unsustainable commercial models and subsequently collapse, resulting in the disappearance of more than £500 million of UK consumers' money," Centrica said in a statement.