A big deal discussed in recent months for its implications in the UK’s energy retail market will allegedly be finalised in the next couple of days.

According to Bloomberg News, the government will help close a deal that will see Octopus buy Bulb as soon as this week.

Once the agreement is reached, Octopus will become one of the UK’s largest energy suppliers after adding Bulb’s 1.6 million customers.

A few days ago, Keith Anderson, Chief Executive of ScottishPower criticised the government’s actions regarding the sale of Bulb.

Mr Anderson said that financing the company was “unfair” as “no other supplier in the UK has access to such government funding and… in the current circumstances we believe other suppliers would be willing to acquire Bulb for a materially smaller level of government support.”

Last week, it was reported that OVO was considering buying nationalised Bulb as the sales process was coming to an end, with Octopus, the sole bidder, finalising the details of the deal. 

A government spokesperson told ELN: “The Special Administrator of Bulb is required by law to keep costs as low as possible.

“We continue to engage closely with them to ensure maximum value for money for taxpayers.”

ELN approached Octopus and Bulb for comment – the companies declined to comment.