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Nov 23, 2021 · The rapid rise and costly fall of Bulb Energy. Miles Brignall. Tue 23 Nov 2021 04.30 EST. First published on Mon 22 Nov 2021 11.54 EST. Bulb Energy has collapsed, in the biggest ever energy ...
- Miles Brignall
Bulb Energy. 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. [3] Bulb claimed to provide electricity and gas ...
- April 2013; 10 years ago
- Energy supply
- London, United Kingdom
- 1,000 (2020)
All the time Bulb’s been under special administration, the government has had to buy gas and electricity for Bulb’s 1.5 million customers, without hedging, in an energy crisis. Octopus is paying the government to take on Bulb’s customer base – believed to be more per customer than any supplier paid in taking on the 29 failed suppliers ...
- (263.5K)
- I’m a Bulb customer, what should I do?Sit tight. You'll receive an email from Bulb soon with everything you need to know. There’ll be no change to your service yet – you’ll be looked...
- Should I cancel my Direct Debit with Bulb?Please don’t cancel your Direct Debit, you should keep paying exactly as normal. When the time comes for your account to be moved to Octopus system...
- What if I have already cancelled my Direct Debit with Bulb?If you already have, just set one up again as normal with Bulb so you can keep paying for your energy as normal during the transition. When the tim...
- Will my Direct Debit stay the same?We’ll move your Direct Debit over to us as the same amount you were paying with Bulb, and it will be paid on the same day of the month. Once you ar...
- What happens to my credit balance?Your Bulb account balance is unaffected by the move to Octopus, so you won’t lose your credit. Of course, you’ll keep being charged for the energy...
- Will my tariff prices change?Your prices won’t change as a result of this announcement. Bulb customers are on a variable tariff which always means your rates can change, but...
- Will I be cut off?No. Your energy supply will not be affected by this process at any time.
- How do I get help with my account now?You can still get help from Bulb as you always have, through the same contact methods, and you’ll be looked after by the same dedicated Bulb team.
- I have questions about Octopus billingOctopus and Bulb have a few difference to the way we send out bills. Here's some common questions we get asked.
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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 largest ...
Dec 21, 2022 · Legal completion of the acquisition of Bulb Energy by Octopus Energy took place at 23:58 on the 20th December. Octopus Energy was chosen to take on Bulb following an open competition run by Bulb’s special administrators. Deal represents good value for taxpayers and ends period of uncertainty for 1.5m Bulb customers.
- (262K)
Nov 22, 2021 · First published on Mon 22 Nov 2021 07.40 EST. Bulb Energy has gone bust and will be placed into an untested bailout process that will rely on public money to manage the fallout of the UK’s ...
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 largest ...
