Inquiry: Bulb Energy
UK Parliament inquiry | Public Accounts Committee, House of Commons
Bulb Energy collapsed in the summer of 2021 and was placed in special administration by the government – the first time that the government had appointed a special administrator to operate an energy supplier to maintain supply to customers.
In June 2022 the NAO reported on the energy supplier market, and noted that £0.9bn had been spent by government on running Bulb through the special administration regime.
In late 2022, Octopus Energy was identified as the acquirer of Bulb’s customers, business assets and liabilities, and the government obtained court approval for the transaction agreement. Three energy companies commenced legal proceedings relating to this agreement.
Based on the NAO’s latest report, the Committee will question two panels of witnesses on the special administration, sale process and transaction agreement; and on the amount of taxpayer support provided to Bulb Energy, the agreement with Octopus, and the government’s plans to recover this funding.
Further details here.
Deadline: 10 May 2023