Clydebank company Together Energy ‘faces collapse’ - causing fears for over 350 jobs

What’s happening? According to Sky News, Together Energy could run out of funding by this month unless it can find a rescue deal, meaning that its 170,000 customers would be moved on to a new supplier.

Although the business is part owned by Warrington Borough Council, there are over 300 staff in and around Glasgow who will be affected if the company shuts down.

Together Energy is searching for new funding with a spokesperson confirming that the business was “still in active conversations.”

If the company collapses, it’ll be the 26th UK energy supplier to go bust since August last year, as rises in wholesale prices have caused huge spikes in energy costs.

In November, Together Energy said it was "looking to source strategic long-term funding for growth, not short-term [capital]".

It prides itself in actively recruiting from areas hit by poverty and has a commitment to support people who are from the most vulnerable backgrounds and “support staff from the poorest postcodes.”

What to do if you’re with Together Energy: The company is reassuring customers that their accounts are safe. A message on their website reads: "There's a lot of media speculation surrounding the current challenges in the UK energy market, but Together Energy is stable. There's no need to be concerned and we're very much operating business as usual. There's no risk to your supply or payments and our dedicated employees are here to help when needed.”

What happens it the company collapses? As with other companies, such as Avro and Bulb, customers will be moved onto a new supplier and there will be no disruption to service. Prices from a new supplier will be communicated to customers as they are moved onto the service.

There’s pressure on the UK Government to intervene as energy prices are set to soar in April this year after wholesale prices of gas and coal increased. Estimates show that customers could see their bills increase by around 51%, or around £600 annually.