Reassurance offered to council's gas and electricity customers
- Credit: PA
People who signed up to get gas and electricity via Norwich City Council have been assured the future of the company providing that power is secure.
Norwich City Council created what is known as an 'energy white label' company - given the name Roar Power - two years ago, with the promise of cheaper bills and gas and electricity from renewable sources.
The power to the people who signed up was initially provided by ENERGIE and then, since last year, by Octopus Energy.
There are fears that surging wholesale gas prices could push some energy firms out of business because they have to sell gas for less than they buy it for.
But a City Hall spokesperson said: “Roar Power customers can rest assured that their provider’s future is secure.
"Octopus Energy are a responsible, well backed company, which is why we are so proud to work with them to deliver renewable and reliable energy to the Eastern region through Roar Power.”
An Octopus Energy spokesperson said they had met business secretary Kwasi Kwarteng over the weekend and were involved in the ongoing talks.
They said: "Customers should not worry. The government’s energy price cap is doing its job and protecting them against price spikes.
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"The industry, including Octopus Energy, has worked closely with Ofgem and the government in the past when supplier failures have happened and there is a well-oiled process in place.
"Customers whose suppliers have been affected should stay where they are and wait for their new supplier to get in touch.
"As one of the largest, best backed, best run companies in the sector, we will do all we can to support consumers, government and Ofgem as they work through this."
The rise in gas prices has been blamed on a number of factors, including a cold winter which left stocks depleted, high demand for liquefied natural gas from Asia and a reduction in supplies from Russia.
Producers have warned supplies of meat, poultry and fizzy drinks could all be hit due to a shortage of carbon dioxide.