Octopus Energy reportedly closing in on takeover of Bulb

Energy supplier's deal to acquire rival's 1.6m customers would cost taxpayers an estimated 4bn in losses

Octopus Energy is reportedly closing in on a takeover of its rival Bulb in a deal that will set the final bill to the taxpayer at an estimated 4bn.

Ministers at the Treasury and the Department for Business, Energy and Industrial Strategy (BEIS) have been informed that a sale of Bulb's customer base of 1.6 million would be the most favourable outcome, according to Sky News.