Private energy company Bulb collapsed in November 2021 and the government is planning on spending £2.2 billion to prop it up – the biggest state bailout since the Royal Bank of Scotland in 2008.
Apparently the government is “desperate to do a deal” to get Bulb back in the private sector – right now it’s considering giving a further £1 billion to private company Octopus to take over the company.
This makes no sense. Other countries like France, Germany, Italy and the US all have public suppliers of energy.
The government could take Bulb’s 1.7 million customers as the basis of a new publicly owned energy supply company.