Millions of vulnerable people may lose £140 discount if their energy firm collapses

Millions of the most vulnerable households could lose a £140 discount on their energy bills if their supplier collapses, it has emerged.

Under the terms of the Warm Homes Discount, if you’re on selected benefits, a low income or are over the age of 62, you could get a £140 winter energy saving to help heat your home over the colder months.

However Business Secretary Kwasi Kwarteng today refused to rule out whether the saving will remain in place for those forced onto another supplier because their energy company has stopped trading.

It comes after four suppliers went but last week, with Bulb the latest to be in rescue talks and warnings four more could go bust this week.

The failed suppliers come in response to a record high in gas prices fuelled by a surge in demand post Covid.

UK energy companies are now in talks with government over a bailout due to soaring prices, with emergency loans for some companies among options reportedly being discussed.

Some has previously called for the energy price cap to be suspended, to allow firms to pass on more of the cost to taxpayers at a time when millions are already being hit by a £20 a week Universal Credit cost and rising inflation.

What are your thoughts? Get in touch: emma.munbodh@mirror.co.uk

© Getty Images Energy prices have risen 250% since January this year

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