 For the moment, Bulb customers do not need to take any action, and will be contacted by Octopus when it's time to transfer their account over to the Octopus platform. Greg Jackson, CEO and founder of Octopus Energy Group, said: "We take our responsibilities very seriously. We will work unbelievably hard to deliver value for taxpayers and to look after Bulb's staff and customers. "We started off as rivals but shared the same mission – driving a greener, cheaper energy system with people at the heart. Bulb customers will be notified when they have to transfer over to the Octopus platform ( AFP via Getty Images) "We know how important this is to Bulb's loyal customers and dedicated staff, and are determined that Octopus can provide them with a stable home for the future." The deal was approved under the Energy Transfer Scheme, this means that Bulb's assets will be moved into a separ){kind=link}
Energy supplier Bulb collapsed last year due to rising wholesale gas and electricity prices, with customers being transferred over to Octopus Energy in a government-approved deal
The government has approved a deal for energy supplier Bulb to be purchased by Octopus Energy.
Bulb went into administration last year due to soaring wholesale prices for gas and electricity, with the government now approving a deal for the company to bought by Octopus Energy.
Octopus has confirmed that they will be retaining the branding and technology of Bulb for an interim period while Bulb’s 1.5 million customers are transferred over to Octopus.
Bulb has issued a message to its customers saying that they do not need to change their supplier, and assured customers that their current credit balance is protected.