Octopus is reportedly the only company that has been left in Bulb’s takeover race.

In recent months, it was reported that Abu-Dhabi-based energy company Masdar and Centrica had already expressed their interest in acquiring Bulb’s energy customers.

According to The Financial Times, Octopus Energy submitted a final offer for Bulb after Masdar and Centrica pulled out of the bidding process.

Bulb, which serves an estimated 1.7 million customers, has been the biggest victim of the energy market crisis so far.

The energy supplier was put into a special administration regime last November.

It is estimated that Bulb’s insolvency will cost the government and taxpayers £2.2 billion.

ELN approached Octopus for a response – the company declined to comment on the basis it is its policy not to comment on Market and Acquisition rumours or speculation.