I hear where your coming from but it didn't seem to happen so maliciously(IMHO)and still could be just a bluff to get the rates raised.
The government was protecting its people by having a contract with a suppler that fixed a price. The supplier now wants to raise that price and is saying they are going out of business because of being held to the contract that protected us from raising rates....BEL is saying let us raise the rates or else you will be with out electricity!
The government is calling their bluff in a respect by saying,'If its true your going out of business because of this ,then we'll just have to take over because electrical supply is to important to just let it just fail.We don't want to but your making us!
My guess is if Barrow is a good businessman he will concede something to keep them in business, hopefully not a rate increase to the people but probably.