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The UK government has begun to count the cost of Bulb Energy’s collapse as many begin to wonder whether it is a fair price to pay for policymakers’ failure to spot a looming market breakdown.

My colleague Jillian Ambrose writes.

The life-support scheme set up to allow Bulb to keep supplying gas and electricity to its 1.7 million customers through the winter months could cost taxpayers up to £1.7bn, or £1,000 per customer, according to a court application to hand the company to a special administrator.

Officials are understood to be focused on finding a quick exit strategy from the arrangement as early in the new year as possible to help limit the eye-watering costs, as signs of the supplier’s “unsustainable” business model grow clearer.

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