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Birmingham Post
Birmingham Post
Business
Jon Robinson

Together Energy 'faces collapse within weeks' as funding bid nears end

The local council which owns half of an energy supplier has refused to comment on reports the company could be set to collapse.

Warrington Borough Council first began its partnership with Together Energy in September 2019, with an £18m investment.

In November 2021 the Scotland-headquartered business said it was looking to secure "long-term funding for growth" as it aims to return to profitability.

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However, it has now been reported by Sky News that Together Energy could collapse 'within weeks' as the search for new funding nears its end.

The report adds that the business is 'likely to run out of money' later in January without an emergency capital injection.

In a statement to BusinessLive, the council said it was "unable to comment at this time".

Together Energy is a supplier to more than 170,000 homes and has 350,000 accounts.

According to its most recently-available accounts, for the 12 months to the end of October 2020, the business posted a pre-tax loss of £4.1m.

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