Energy company Bulb has shut down rumours of the provider going bust and seeking a bail out.
Households are preparing to see their gas and electricity bills skyrocket as the UK heads into an energy crisis. Wholesale prices have soared, leading to energy companies upping their prices but some can't take the heat.
People's Energy, Utility Point, PfP Energy and MoneyPlus Energy stopped trading in September and Avro Energy and Green Supplier are the latest energy suppliers to go bust.
According to reports, 1.5 million customers have been affected by the collapse.
Speculation has risen that the next company to fold is Bulb, after reports of them seeking a bail out hit headlines. Energy companies are now dealing with concerned customers, but Bulb has been reassuring them on Twitter.
A spokesperson from Bulb told Edinburgh Live: "The reports in the i newspaper are not true. We're not in talks with Government or Ofgem about nationalisation and we haven’t asked for a bailout.
"We buy our energy in advance and this means we're protected from the current wholesale costs that some smaller companies have struggled to manage."
Bulb has a staggering 1.7 million customers, making it the sixth largest company in the UK. On their website they have added a blog post to clear up the rumours for their customers.
They added: "We're working with the government and with other energy companies to make sure we find the right longer-term solution to what's going on in the wholesale market. We'll continue to monitor the situation and share updates here."
The i reported that Bulb could be nationalised after Government officials said that they are in talks with the industry.
Since wholesale prices are rising by 25%, Bulb told customers that as a result and 'a typical home (as set by Ofgem) using both electricity and gas will pay £2.90 more for their energy a week.'
For those who are on a low income and worried about being unable to pay for energy bills, a £140 grant is available through the Warm Home Discount scheme.
