Gas price spike is unprecedented, more energy firms to go out of business - UK regulator

The recent rise in gas prices is unprecedented and more energy suppliers could go out of business, the head of Britain's Ofgem energy regulator, Jonathan Brearley, said on Wednesday.

"Have a look at the change in the gas price - it really is something that we don't think we've seen before at this pace," he said. "We do expect more (suppliers) not to be able to face the circumstances we're in."

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