Bulb Energy customers will be moved to Octopus Energy.

CanNeverThinkOfAUsername

Under the Energy Transfer Scheme, Bulb Energy customers will be moved to existing energy supplier Octopus Energy: https://www.gov.uk/government/publications/bulb-energy-notification-of-energy-transfer-scheme

CanNeverThinkOfAUsername

Bulb finds new home with Octopus

Bulb Energy has found a new home with Octopus Energy. We’re taking responsibility for Bulb’s customers, providing good value for taxpayers and ending an uncertain time for Bulb’s members and team.

We’re really excited to join hands with millions of Bulb customers and teammates who’ve long shared our mission to build a cheaper, greener energy system with people at its heart.

https://octopus.energy/bulb/

QrizB

This made the breakfast news on BBC today, too.

[Deleted User]

This is an interesting snippet from the FAQs:

'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 since September 2021.

In addition, taxpayers will benefit from a profit-share agreement for a period of up to 4 years, reducing the overall cost to UK taxpayers.'

A few months ago, Octopus wanted £1Bn to takeover Bulb's customers. An unintended benefit of the EPG?

brewerdave

Must make Octopus one of the big 5 now ?

[Deleted User]

brewerdave said:

Must make Octopus one of the big 5 now ?

I'd suggest they probably already were.

Alnat1

Hope they don't take on the Bulb cs staff, most of them are hopeless. One is a decent singer, she hummed and sang rather than putting me on hold for 5 mins......

[Deleted User]

Alnat1 said:

Hope they don't take on the Bulb cs staff, most of them are hopeless. One is a decent singer, she hummed and sang rather than putting me on hold for 5 mins......

‘Importantly, please don’t contact Octopus Energy about your Bulb account just yet. The Bulb team will still look after your account and the Octopus team don’t have any more information to share about Bulb’s move to Octopus.’

On previous SoLR acquisitions, I believe that Octopus has offered a job to any CS staff member that wanted one.

SJMALBA

brewerdave said:

Must make Octopus one of the big 5 now ?

According to The 'Torygraph' (so it must be true!), 3rd largest.

Jeff_Dee

Great news in one respect, as it indicates that Octopus is a solid company not at risk of folding anytime soon.

But the quality of their (Octopus) email support has been abysmal recently, taking weeks to reply, or not at all.  

bristolleedsfan

Dolor said:

This is an interesting snippet from the FAQs:

'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 since September 2021.

In addition, taxpayers will benefit from a profit-share agreement for a period of up to 4 years, reducing the overall cost to UK taxpayers.'

A few months ago, Octopus wanted £1Bn to takeover Bulb's customers. An unintended benefit of the EPG?

Octopus were reported to have wanted £1Bn to buy energy in advance for Bulb customers which Octopus would have paid back.

https://www.bbc.co.uk/news/business-62367992  31 July

"The £1bn funding is part of a package being discussed where Octopus would also pay more than £100m for Bulb's customers as well as entering a profit-sharing deal with the government"