Octopus Energy seeks £1bn taxpayer support to seal deal for stricken Bulb | Business News

Octopus Energy has asked the government for a £1bn taxpayer funding package to seal a takeover of Bulb, its stricken rival.

Sky News has learnt that privately owned Octopus is nearing a deal with ministers to acquire its smaller competitor, which collapsed late last year.

City sources said this weekend that a deal would involve Octopus paying between £100m and £200m to take on Bulb’s 1.6m-strong customer base.

It would also…