The war in Ukraine has exposed the vulnerability of the energy industry across Europe, but the UK market is looking increasingly perilous for suppliers and consumers for reasons closer to home. Utilities are now on the hook for billions of pounds of unpaid bills after the prices of gas and electricity soared as households already struggling with the cost of living go into debt. It’s also becoming clear that what people pay is unlikely to fall even if wholesale prices do because of the costs associated with rescuing the customers of more than two dozen smaller suppliers that failed when prices surged last year. It’s too early to put an overall figure on what customers owe, but the picture is bleak based on recent estimates. Companies such as Iberdrola SA’s Scottish Power are warning the […]