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

How can businesses build the investment case for climate resilience?

'Completely unnecessary': Veggie brands warn against EU ban on meat names for plant-based food

More on Energy

Study: Energy-hungry data centres and air con wiping out climate gains made by renewables
Energy

Study: Energy-hungry data centres and air con wiping out climate gains made by renewables

Report warns rapid expansion of renewables is largely covering fast-growing energy demand from data centres and cooling systems rather than displacing fossil fuels

Amber Rolt
clock 16 February 2026 • 5 min read
A new energy is taking over: Five forces defining the next phase of the global energy transition
Energy

A new energy is taking over: Five forces defining the next phase of the global energy transition

The global energy transition is now underpinned by so much investment, corporate willpower, and future-oriented policymaking that it's looking to become irreversible, writes Climate Group's Sam Kimmins

Sam Kimmins, Climate Group
clock 13 February 2026 • 6 min read
Government hits back at Tony Blair Institute call to ditch clean power targets
Energy

Government hits back at Tony Blair Institute call to ditch clean power targets

Think tank calls for 'energy strategy reset' to permit more drilling in the North Sea and drop clean power by 2030 goal, sparking criticism from government and analysts

James Murray
James Murray
clock 13 February 2026 • 7 min read