In the quiet confines of a courtroom in the City of London, the future of the government’s biggest bailout since the financial crisis could be determined today.
A decision on rubber stamping Octopus’s takeover of the collapsed energy supplier Bulb takes place in the Rolls Building, where commercial disputes are settled. A judge will decide on timing of the energy transfer scheme, effectively deciding how and when Bulb’s 1.5 million customers will find a new home.
The deal has been at the centre of a wrangle that has seen rivals claim a lack of transparency from both Octopus and the government. If the deal is approved, rivals may attempt a judicial review. If it is kiboshed, champions of the takeover argue Bulb’s value could fall and costs to taxpayers could rise further. A dispute over the true cost of Bulb to the government is well under way, after it was revealed that the bill has hit 6.5bn. The government’s spending watchdog is also scrutinising the deal.
To rewind: Bulb was the brainchild of co-founders Amit Gudka and Hayden Wood. Before its collapse last year, the latter was a regular fixture on the public circuit, evangelising about how Bulb would shake up the lumbering energy supply market with slick tech and renewable energy. Wood, a privately educated Tottenham Hotspur fan and self-confessed music geek”, began his education in the energy sector by advising some of the big six power firms, including power, when working as a management consultant for Bain.
この記事は The Guardian の November 29, 2022 版に掲載されています。
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この記事は The Guardian の November 29, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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