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

More on Energy

Global Briefing: Trump eyes yet more cuts to US climate tech projects

Global Briefing: Trump eyes yet more cuts to US climate tech projects

Plus: Ørsted to slash 2,000 jobs, Mars invests in 100 Polish solar projects, and Octopus Energy joins €200bn European industry decarbonisation drive

Michael Holder
clock 10 October 2025 • 8 min read
NESO attributes strongest winter electricity margins since Covid pandemic to clean energy growth

NESO attributes strongest winter electricity margins since Covid pandemic to clean energy growth

Winter Outlook predicts electricity buffer equivalent to 10 per cent of average peak demand, but warns of potentially 'tight' periods

Stuart Stone
clock 09 October 2025 • 4 min read
Study: Trump's war on renewables will have only 'marginal impact' on global energy transition

Study: Trump's war on renewables will have only 'marginal impact' on global energy transition

Energy Transition Outlook from DNV warns White House will delay US emissions reductions, but global shift to clean energy will continue to accelerate

James Murray
clock 07 October 2025 • 3 min read