Ofgem plans for Gazprom Energy takeover after customer exodus

Russian gas supplier losing contracts over Ukraine invasion would get UK government lifeline if it collapses

The government has drawn up plans to take over the funding of the UK operation of the Russian energy giant Gazprom, should the state-backed supplier collapse as customers cut supply contracts due to the invasion of Ukraine.

Officials have drawn up contingency plans to implement a financial lifeline for the business energy supplier, which has contracts in place with about two-thirds of the UK's heaviest gas users, in the event that Gazprom Energy enters administration in the next few weeks.