Shock as Lancashire energy firm ceases trading

Luke Watson, managing director of GB Energy

Luke Watson, managing director of GB Energy

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More than 135,000 customers were reeling today after the sudden closure of a Preston-based energy supplier.

GB Energy Supply, based at Broughton, has ceased trading.

It has assured customers that their supplies will continue.

In a message on its website, managing director Luke Watson said: “It is with regret that we are informing you that GB Energy Supply is no longer trading and therefore you will be unable to access our website at this time.

“Due to swift and significant increases in energy prices over recent months and, as a small supplier our inability to forward buy energy to allow us to access the best possible wholesale prices, means that the position of the business has become untenable and as such we will now be entering a process overseen by Ofgem to move you to a new supplier.

“Customers will be contacted soon by their new supplier with more information on how this process will affect them.”

GB Energy Supply was established in November 2014 by Preesall-born Mr Watson with the aim of being the cheapest energy provider on the market.

More information is available on the Ofgem website at: https://www.ofgem.gov.uk/ofgem-safety-net

For more details, see tomorrow’s paper or check online for updates.