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

Forestry England and GB Energy to explore potential for woodland solar and wind projects

Forestry England and GB Energy to explore potential for woodland solar and wind projects

Joint venture deal could see England's 'greatest natural assets' host renewable energy projects

Stuart Stone
clock 28 February 2026 • 3 min read
Engie agrees £10.5bn deal to buy UK Power Networks

Engie agrees £10.5bn deal to buy UK Power Networks

French energy giant announces deal to acquire UK's largest electricity distribution company

Stuart Stone
clock 27 February 2026 • 3 min read
'Constant energy source beneath our feet': Pioneering geothermal power plant opens in Cornwall

'Constant energy source beneath our feet': Pioneering geothermal power plant opens in Cornwall

United Downs power plant in Cornwall is the first in the UK to generate electricity from subsurface heat and produce lithium for use in car batteries

clock 26 February 2026 • 4 min read