Buzz People

Edinburgh-based energy supplier Our Power folds

Edinburgh-based Our Power, which has 38,000 customers, has gone out of business.
Its website said the interests of customers would be protected and power supplies were "secure".
The jobs of 70 members of staff at the not-for-profit company are at risk. An administrator is expected to be appointed on 31 January.
The Scottish government is thought to have lost nearly £10m in loans to the failed energy supplier.
The firm was set up four years ago with the high-profile support of Scottish ministers.
By buying energy at wholesale rates for housing association tenants, it was expected to save them money and reduce fuel poverty.
The government agreed to three commercial rate loans, totalling £9.5m, alongside social investors and after making checks into the business plans.
In a letter to customers, the company's CEO, Dawn Muspratt, blamed the company's collapse on several factors.
The firm was forced to implement a new billing system in 2018 after their system was withdrawn from the market. This resulted in bills being issued late and cashflow issues.

https://www.bbc.co.uk/news/uk-scotland-scotland-business-47000453
Register Now