Octopus Energy reportedly closing in on takeover of Bulb

Energy supplier’s deal to acquire rival’s 1.6m customers would cost taxpayers an estimated £4bn in losses

Octopus Energy is reportedly closing in on a takeover of its rival Bulb in a deal that will cost taxpayers an estimated £4bn in losses.

Ministers at the Treasury and the Department for Business, Energy and Industrial Strategy (Beis) have been informed that a sale of Bulb’s customer base of 1.6 million would be the most favourable outcome, according to Sky News.

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