![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/octopus-energy-announces-major-change/&media=https://uknews.evprotec.com/wp-content/uploads/2022/10/2hkrkfb-energy-supplier-octopus-energy-750944588-1.jpg&description=OCTOPUS Energy has announced it is taking on Bulb Energy's 1.5million customers. The provider is paying the government to take on the failed energy firm's customer base and staff. Octopus Energy has announced it will take on 1.5million new customers from BulbCredit: Alamy Bulb fell into administration in November 2021, meaning millions of customers and staff were left in limbo as the government was forced to step in and bail it out. But the latest deal will provide reassurance and bring an end to taxpayer losses. It comes after almost a year period in which administrators tried to find a solution to the firm's financial woes. Grant Shapps, Business and Energy secretary, said: "Today's sale will bring vital reassurance and energy security to consumers across the country at a time when they need it most. 'This is a fresh start and means Bulb's 1.5 million customers can rest easy, knowing they have a new energy home in Octopus." Should I do anything if I'm a Bulb customer? Existing Bulb customers shouldn't have to do anything while their accounts are transferred. Their credit balances will be moved across automatically as well as their existing direct debits. Octopus will be in touch with customers before any transfers are made. Until that point, their regular point of contact at Bulb will remain the same. Current Octopus Energy customers will not be impacted by the merger. Richard Neudegg, director of regulation at Uswitch.com, said Bulb customers would still continue receiving their £400 energy rebate. What happens if my provider goes bust? Dozens of UK energy providers have gone bust since the start of 2021 after struggling with soaring wholesale gas prices. Bulb didn't collapse, but entered special administration and is operating as normal. However, if your supplier does fold, your energy won't be cut off so there's no need to panic. Tashema Jackson, consumer champion at energyhelpline previously told The Sun: "Customers need not worry as their supply will not be a){kind=link}
OCTOPUS Energy has announced it is taking on Bulb Energy’s 1.5million customers.
The provider is paying the government to take on the failed energy firm’s customer base and staff.
Bulb fell into administration in November 2021, meaning millions of customers and staff were left in limbo as the government was forced to step in and bail it out.
But the latest deal will provide reassurance and bring an end to taxpayer losses.
It comes after almost a year period in which administrators tried to find a solution to the firm’s financial woes.