Octopus and business department claim taxpayers will get a ‘fair share’ of any profits, but refuse to shed light on transaction
Get ready to say farewell to Bulb, the bust energy supplier that has been hanging around in quasi-nationalised form for the past 12 months. The high court is scheduled to approve Bulb’s transfer out of administration at the end of this week, at which point Octopus Energy will become the owner of a business with 1.5 million customers.
Prepare also, no doubt, to hear another round of boasts from Grant Shapps, the business secretary, about how the sale is a great deal for the public purse. Do not, though, expect him – or anybody associated with the transaction – to offer evidence to support that claim. The level of transparency around this deal is shockingly poor.
