Octopus Energy

2022 - 6 - 10

Post cover
Image courtesy of "Financial Times"

Octopus submits last-minute bid for electricity supplier Bulb (Financial Times)

Centrica and Abu Dhabi's Masdar also in three-way race ahead of deadline at end of month.

PRESS: Octopus joins bidding fray for UK energy supplier Bulb - FT ... (London South East)

(Alliance News) - Octopus Energy has made a last-minute bid in a three-way race to buy collapsed UK electricity and gas supplier Bulb, the Financial Times ...

In the past Ofgem dealt with collapsed energy suppliers through its supplier-of-last-resort process, which simply moves thousands of customers from the failed company to another supplier. However, the government has not proffered how much money it will inject, instead waiting to see what the three bidders offer. Britain's then-seventh biggest energy supplier Bulb, which provided gas or electricity to 1.7 million households, entered special administration in November as it was squeezed out of the market.

Post cover
Image courtesy of "The Times"

Octopus Energy enters bidding for Bulb (The Times)

Octopus Energy, Britain's fourth biggest energy supplier, has made a late entry in a race to buy Bulb, the collapsed electricity and gas supplier.

Octopus was founded in 2016 and now has 3.2 million customers operating in 13 countries covering the generation and the retail markets. Bulb, Britain’s seventh-biggest household supplier collapsed in November with 1.6 million customers and was placed into a government-backed special administration regime. Octopus Energy, Britain’s fourth biggest energy supplier, has made a late entry in a race to buy Bulb, the collapsed electricity and gas supplier.

Explore the last week