Octopus labels rivals “desperate” in court over Bulb deal case

British Gas, E.ON and ScottishPower had raised concerns over the bidding process

Octopus has called competitor energy companies “desperate” in a court hearing that took place on Friday after British Gas, E.ON and ScottishPower challenged the process which followed Bulb’s acquisition.

The energy firms argued that there has not been enough transparency over the process and the terms of the final deal.

In documents filed to the court, British Gas Trading (BGT), said: “This issue is of central importance in circumstances where Octopus has been the beneficiary of hugely advantageous arrangements which were not offered to other participants in the sale process, in particular, BGT.”

Last month, the High Court gave the green light to the proposed takeover of collapsed energy company Bulb by Octopus.

An Octopus spokesperson told ELN: “This court case looked vexatious, to begin with, but now it’s clear that the government is likely to make a profit on the sale of Bulb to Octopus, this legal action looks even more desperate and the judge has rejected their fishing expedition in its entirety.

“Maybe if they focused on looking after customers instead of expensive court cases, they wouldn’t have won a wooden spoon for the worst service of any company in any sector, while Octopus is Which? recommended for the sixth year in a row.”

Currently, Bulb’s customers and its team are migrating to Octopus.

ELN has approached British Gas, E.ON and ScottishPower for comment – the companies did not respond before publication.

A BEIS spokesperson told ELN: “We worked with special administrators to ensure fair and open competition to give Bulb’s 1.5 million customers much needed reassurance while providing best value for taxpayers.

“The government will provide the remaining funding necessary to ensure that the special administration is wound up in a way that protects customers’ energy supply. We will recoup these costs at a later date, ensuring that we get the best outcome for Bulb’s customers and the British taxpayer.”

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