All the time Bulb’s been under special administration, the government has had to buy gas and electricity for Bulb’s 1.5 million customers, without hedging, in an energy crisis.
Octopus is paying the government to take on Bulb’s customer base – believed to be more per customer than any supplier paid in taking on the 29 failed suppliers since September 2021.
In addition, taxpayers will benefit from a profit-share agreement for a period of up to 4 years, reducing the overall cost to UK taxpayers.