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Woman on phone – stock shot

Two more UK energy firms have ceased trading amid soaring wholesale energy prices.

Pure Planet, which is backed by oil giant BP, and Colorado Energy join a number of small energy firms that have gone bust recently.

Pure Planet said it had been caught between rising costs and the UK’s energy price cap, which limits what companies can charge consumers.

This had left its business “unsustainable”, it said.

Customers of both companies will be moved to new suppliers.

Pure Planet and Colorado Energy are the latest casualties of a global spike in gas prices.

Pure Planet supplies gas and electricity to around 235,000 domestic customers, while Colorado Energy supplies gas and electricity to around 15,000 domestic customers.

Energy regulator Ofgem will now find a new supplier for those customers, who are asked to do nothing until the transfer takes place in the coming weeks.

Today’s developments bring the number of customers affected by the current wave of energy company collapses across the UK to around two million.

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