Octopus Energy to repay £3bn to UK Government for acquiring nationalized Bulb by September.
Octopus Energy set to repay £3bn to UK Government for taking over collapsed energy supplier, Bulb. The payment will be made by September, returning almost all costs of temporarily nationalising Bulb in 2021. This will provide an early windfall for the next government. Bulb went under in 2021 after wholesale prices surged above the price cap set by Ofgem, forcing suppliers to sell energy at a loss.
June 21, 2024
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