THE announcement by Together Energy that it has ceased trading has sparked major concerns in the town.

The firm is 50 per cent-owned by Labour-run Warrington Borough Council.

The council issued a statement on the matter shortly after the news was confirmed earlier today, Tuesday.

It says: "We’re very disappointed that Together Energy will be ceasing to trade due to the current energy crisis, which has already resulted in the closure of several energy companies.

"Our vision was to be part of a company that tackles the climate emergency by delivering 100 per cent green energy to customers, contributes to reducing fuel poverty and provides local jobs in Warrington – particularly for those out of work or without formal qualifications - but the current market conditions are sadly not sustainable.

READ MORE > Time line of Warrington Borough Councils involvement with Together Energy

"We know that Together Energy’s operating model was resilient and our approach to hedging extremely robust, but the enormous and sustained wholesale price rises mean that it is now one of many companies that has had to leave the market.

"We know this will be a difficult time for Together Energy customers and staff. We also know that Together Energy’s closure will have an impact on our residents.

"While it is our absolute priority to minimise any and all exposures we have as a council, we must first, as a priority, ensure that the independent administration process completes in a timely manner, and that Together Energy’s customers are seamlessly transferred to another provider."