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Bulb Energy Ltd., trading as Bulb, was an energy supply company in the United Kingdom acquired by Octopus Energy in 2022. Founded in 2013, the company attracted venture capital from DST Global and Magnetar Capital and ran at a financial loss while achieving rapid growth in customers.
Dec 21, 2022 · The agreement, implemented via a new process known as the Energy Transfer Scheme (ETS), will save taxpayers millions of pounds as Bulb moves back into private ownership and the government is no longer directly exposed to the volatility of the wholesale energy market.
Dec 21, 2022 · Octopus Energy has completed its acquisition of the collapsed energy supplier Bulb - even though legal challenges to the deal remain ongoing. Bulb, which has about 1.6m customers, was the...
Dec 21, 2022 · Rival suppliers Eon, Scottish Power and Centrica - which owns British Gas - have argued the Bulb sale involved unfair government subsidies and asked for a judicial review.
Greg Jackson, founder of Octopus. In late 2022, the Government sold Bulb’s customers to Octopus. It provided more than £1.6 billion in temporary taxpayer support to cover the energy needed to ...
Oct 29, 2022 · Immediately thereafter, Bulb UK Operations Limited will transfer into Octopus Energy Retail 2022 Limited, a wholly owned subsidiary of Octopus Energy Group Limited.
Jul 31, 2022 · Octopus Energy is seeking £1bn in taxpayer funding to take over collapsed rival Bulb from the UK government. Bulb has been bailed out by the state and is being run by an administrator since going...
