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Bulb, with 1.6 million customers, was the biggest firm to go bust but Ofgem estimates that the cost of all the other energy companies which collapsed in 2021 could reach £2.7bn - or £94 per customer. It includes the cost of transferring customers from failed energy providers to new firms.
The £2.7bn figure is in addition to the billions of pounds earmarked for Bulb which, according to the National Audit Office, has already seen the government spend £900m to keep the company running.
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That's where the bulk of the standing charge increase has gone. Bulb is likely to cost over £2bn, on top of the £2.7bn on others.