U.K. Energy Companies Lose High Court Challenge Over Bulb's Sale to Octopus, the Guardian Reports
01 April 2023 - 1:58AM
Dow Jones News
--U.K. energy companies E.ON, Centrica's British Gas and
Iberdrola's Scottish Power have lost a high court challenge in the
U.K. over the sale of Bulb Energy by the government, the Guardian
reports.
--The companies alleged that the U.K. government's
decision-making process was flawed when Bulb was sold to rival
Octopus Energy after it went into special administration in 2021,
the Guardian says.
--According to The Guardian, Octopus argued that its purchase
would be "extremely beneficial" for the government and
taxpayers.
Full story: https://bit.ly/3nBZFrV
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
March 31, 2023 10:43 ET (14:43 GMT)
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