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I'd just assumed that regulators wouldn't allow them to given that their role is to supply an essential service
Nothing happens to consumers' supplies if the "suppliers" go bust, because the whole thing is fictional, so none of it matters. LOL or whatever.
I've submitted a refund request with Bulb for the credit I had, which they've apparently accepted, though I have a sinking feeling the money will be lost in the ether if they collapse before it gets to my bank account.
Here's the page they send you to when you email them, which I don't think is linked anywhere:
https://account.bulb.co.uk/dashboard/payments-and-statements/refund
grams
lemonade
Aah - thanks for the explanation. The cap was a piece of information that I was missing.
However, I'm still surprised that the regulator didn't force them to hold the capital to cope with this. For example, the price rises are significant, but it's not unprecendented (for example, post Fukushima in Japan, gas prices rose 80% or something insane as the nuclear plants were all turned off).
I'd just assumed that regulators wouldn't allow them to given that their role is to supply an essential service, or would insist on them holding sufficient capital. Maybe they do and this is one of those 99.99th percentile events that they can't cope with. Maybe the holding of capital isn't even a thing the energy regulator can insist on - it's not something I know a lot about.