UK government pledges up to £4.5bn to fund Bulb takeover by Octopus

Support comes on top of 1.1bn paid to handle collapsed energy firm's administration costs

The UK government has committed to provide up to 4.5bn to fund the takeover of collapsed energy company Bulb by its rival Octopus.

Bulb spent more than a year in a state-handled administration and its 1.5 million customers transferred to Octopus on Tuesday night.