An energy supplier half owned by Warrington Borough Council and with 170,000 customers is facing collapse "within weeks" according to reports.
A desperate search for new funding is due to come to an end shortly which could leave Together Energy bust, according to Sky News.
The news channel reports that the prospect of finding new investors is "remote", although a spokeswoman for Together Energy insisted on Wednesday that it was "still in active conversations".
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Warrington Borough Council invested £18million into Together Energy in September 2019, and has also provided a £20million loan to the firm.
Spikes in wholesale energy prices have seen 25 energy suppliers go to the wall since August.
If the firm does collapse, industry regulator Ofgem would begin the Supplier of Last Resort (SOLR) process, inviting other suppliers to bid for its customers.
Warrington Council has reportedly refused to provide any further funding to the company.
The firm employs 15 staff in Warrington and hundreds more in Scotland.
In March last year the council issued a press release waxing lyrical about the company's growth, after the firm boasted a 284% increase in its customer accounts over the past two years.
Warrington Council leader, Cllr Russ Bowden, said at the time: "Our Together Energy partnership will help us address some crucial issues here in Warrington, such as tackling the climate emergency, reducing fuel poverty and generating income for the council - so the growth of the company is great news for our town.
“Another major benefit of this partnership is Together Energy’s strong social ethos, which sees them offering employment and support to young disadvantaged people."
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