Today news
About the same in other media
Government support to keep Bulb going could cost taxpayer up to £1.7bn
Reading now: 955
The government has begun to count the cost of Bulb Energy’s collapse as many begin to wonder whether it is a fair price to pay for policymakers’ failure to spot a looming market breakdown.
The life-support scheme set up to allow Bulb to keep supplying gas and electricity to its 1.7 million customers through the winter months could cost taxpayers up to £1.7bn according to a court application to hand the company to a special administrator.
Officials are understood to be focused on finding a quick exit strategy from the arrangement as early in the new year as possible to help limit the eye-watering costs, as signs of the supplier’s “unsustainable” business model grow clearer.
Accounts for the collapsed supplier show a clear trend of growing
Read more on theguardian.comAbout this in other media
Bulb chief used government advisory role to ‘brief against’ rivals theguardian.com /2 years ago
Uncertainty over if government is in Bulb Energy for the long haul theguardian.com /2 years ago
Has Bitcoin solidified support at $58K and what’s going on with the Metaverse boom? | Find out now on The Market Report w/ Michaël van de Poppe. cointelegraph.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
