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Role of Bulb’s managment leaving

Role of Bulb’s managment leaving Energy supplier Bulb has disclosed its boss will step away from his role by the of July, as the government races to secure an acquisition deal. In recent weeks. the special administrator of the company has reportedly been in talks with potential bidders, including Octopus Energy and Masdar. Earlier this…
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£2.4bn cost for customers as energy firms fail

£2.4bn cost for customers as energy firms fail: Since 2021 over 30 companies have left the market has costing their customers £2.4 billion due to unheard of raises in gas prices. An Ofgem document given to the Business, Energy and Industrial Strategy Committee say that energy suppliers could receive up to £2.4bn from taking on…
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Is Bulb’s selling process going to start?

Is Bulb’s selling process going to start:  Bulb’s special administrators are expected to pick a financial advice and asset management firm to oversee the energy supplier’s selling process soon. Bulb, Britain’s seventh-largest provider with over 1.5 million consumers, was the first to be placed in a special management regime a few months ago. This was…
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Energy supplier’s price tag; ‘every home will pay £120’!

Energy supplier’s price tag; ‘every home will pay £120’!: According to new research, every household in the UK will see an additional £120 added to their annual energy bills. According to the wealth management firm Investec, the cost of all energy firm failures would have to be borne by millions of households. Bulb, the largest…
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Energy suppliers presented different survival plans for Bulb

Energy suppliers presented different survival plans for Bulb: 2 energy suppliers have apparently suggested to Ofgem alternative plans to the present special administration regime (SAR) which Bulb was subject to. The UK utility, which is the 7th largest energy supplier in the UK reported its folding last week. The government will give as much as…
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During the energy crisis, searches for ‘can’t pay bills’ increase by 1,300%

During the energy crisis searches for ‘can’t pay bills’ increase by 1300%: Google searches for ‘can’t pay bills’ have increased in response to the ongoing energy crisis, with an even larger spike following the bankruptcy of energy supplier Bulb. According to a study conducted by Eachnight, the number of searches increased by more than 1,300…
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Government to cover costs of Bulb special administration

Government to cover costs of Bulb special administration: Only 3 days following the announcement from Bulb that it could be situated into a special administration regime, reports imply that the current failure could leave taxpayers with a £1.7 billion debt. On Wednesday at a court hearing, it was shown that the government has reserved £1.7…
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Bulb formally engages in special administration

Bulb formally engages in special administration: The government has reported energy supplier Bulb has formally entered into special administration with the firm carrying on delivering energy to its customers. A Special Administration Regime (SAR) is a procedure to protect customers when a major provider falls. SARs are applied in cases where important services may otherwise…
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