Octopus wraps up Bulb acquisition with £3bn payment to government

Stuart Stone
clock • 3 min read
Octopus Energy founder Greg Jackson and Chancellor Rachel Reeves MP - Credit: Octopus Energy Group
Image:

Octopus Energy founder Greg Jackson and Chancellor Rachel Reeves MP - Credit: Octopus Energy Group

Finalisation of deal means bailout delivered £1.5bn profit to the government and resulted in no cost to taxpayers

Octopus Energy has paid more than £3bn to the government following its acquisition of Bulb, in a move the UK's largest energy supplier today said ended the bailout process for the company. Octopus Energy...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

Stuart Stone
Author spotlight

Stuart Stone

View profile
More from Stuart Stone

World Athletics, the FA, and Liverpool FC back sport's first climate impact playbook

'Nice wake up call': Countries back ambitious treaty to end plastic pollution

More on Energy

Oxford secures funding for low carbon heat network
Energy

Oxford secures funding for low carbon heat network

Project will supply historic landmarks with low carbon heating and could reduce city's gas demand by 10 per cent

Amber Rolt
clock 11 June 2025 • 3 min read
The government must address electricity prices to lower bills and boost competitiveness
Energy

The government must address electricity prices to lower bills and boost competitiveness

There is no silver bullet for solving Britain's high electricity prices - rather, an effective package of measures across strategies is needed to shift to a clean energy system, writes the Aldersgate Group's Marie-Laure Hicks

Marie-Laure Hicks, Aldersgate Group
clock 10 June 2025 • 5 min read
Future Homes Standard: 'Vast majority' of new build homes to feature rooftop solar panels
Energy

Future Homes Standard: 'Vast majority' of new build homes to feature rooftop solar panels

Government confirms an estimated 99 per cent of new build homes in England will require rooftop solar panels, as Lib Dems celebrate 'Sunshine Bill' success

Stuart Stone
Stuart Stone
clock 06 June 2025 • 6 min read