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Octopus to repay UK government 3 bln pounds of Bulb takeover costs, FT reports
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Octopus to repay UK government 3 bln pounds of Bulb takeover costs, FT reports
Jun 20, 2024 9:48 PM

June 21 (Reuters) - Octopus Energy is set to hand the

next UK government an early 3-billion-pound ($3.80 billion)

windfall as it pledged to repay all the state support it

received to take over collapsed energy supplier Bulb, the

Financial Times reported on Friday.

Octopus would reimburse the Treasury by September, meaning

that the government will recover almost all the cost of

temporarily nationalizing Bulb in 2021, the report said.

"We have already started to repay the government and it

should all be complete by September," FT quoted the company as

saying.

($1 = 0.7900 pounds)

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