Energy firm Bulb set to go into administration

Bulb Energy, which has 1.7 million customers, has announced that the firm will be put into administration.

It is the largest UK energy company to face difficulties following a sharp rise in wholesale gas prices this year.

Bulb will become the first company to placed into "special administration", where it is run by the government through the regulator Ofgem.

This measure is only used if Ofgem is unable to find another company to take over an energy firm's customers.

Customers are advised not to take any action and they will be contacted when any steps are needed.