Octopus Energy Faces Legal Challenges After Rival Takeover

Octopus Energy has completed its takeover of fallen rival Bulb, absorbing its 1.5m customers and becoming the third-biggest supplier in the UK with over five million households on its books. The acquisition was finalized via a new process known as the Energy Transfer Scheme (ETS) – which moves Bulb moves back into private ownership following a year-long stint in special administration. The ETS was approved by the Business and Energy Secretary on 7 November, and the High Court ruled that this month that the transfer can go ahead. It set a…