1m Bulb customers transferred to Octopus systems

Octopus Energy has migrated one million former Bulb customers on to its systems in under three months.

A further 500,000 customers will be transferred on to Octopus’ Kraken system in the coming months.

Octopus completed its acquisition of Bulb in December 2022, adding 1.5 million customers which makes it the second largest energy retailer in the country.

Greg Jackson, founder of Octopus Energy, said: “We’re so proud to have reached this milestone in record time – it’s yet another example of the speed of transformation that can be achieved by using technology in a smart way.

“Octopus is a tech company at heart, using technology to make energy easier and cheaper for customers – and we’re over the moon to be able to do this for Bulb customers now too.”

The acquisition came following an almost year-long sales process, after the government-owned retailer fell into administration.

Centrica, Eon and Scottish Power have all challenged the decision on the grounds that Octopus was offered different terms to other suitors for the nationalised energy supplier and that the secretary of state could have secured a better deal.

British Gas-owner Centrica claims it was subject to “discrimination” in the bidding process for Bulb, suggesting special administrator Teneo proactively contacted Octopus to outline potential government support for the acquisition.

A high court judge is currently deliberating on the rival retailers’ claims following a three-day judicial review hearing which took place at the start of March.

Octopus denies that it was given preferential treatment and has argued that it was not given any additional information about government support prior to the acquisition.

Meanwhile lawyers representing the government said that allegations made by rival suppliers were all “without merit”.

Utility Week understands that a judgement will likely be delivered next month, either side of the Easter court break.

Tim Speed, energy partner at law firm Shakespeare Martineau, previously told Utility Week that there are two plausible outcomes should the judge rule in favour of the rival retailers. First the judge could rule that the subsidy given to Octopus as part of the deal is set aside. Or the judge could rule that the deal is scrapped altogether. He said the latter option could prove “chaotic”.