The Court of Appeal has ruled that Octopus’ acquisition of Bulb in 2022 was fair despite “a bunch of incumbent energy companies trying to block and overturn” the deal.
Octopus Energy, the UK’s largest electricity supplier, has completed a payment of over £3 billion to the government to acquire failed energy supplier Bulb.
Energy suppliers British Gas, OVO, Bulb, E.ON, Scottish Power and SSE have been ordered to pay a combined £10.8 million after missing the smart meter installation target in 2022.
Australian power company Origin Energy has upgraded its 2023 financial year energy markets earnings due to a “stronger than expected” contribution from Octopus Energy.
The High Court has unequivocally found that the Government received a fair price for the acquisition of Bulb by the Octopus Energy Group, throwing out the judicial review brought by Centrica, Scottish Power and E.On.
