The business is to be bought by Octopus Energy, which announced it would take over Bulb’s 1.5 million customers after the company was placed into special administration last year. The deal aims to “protect consumers and taxpayers” and “provide a stable new home for Bulb’s customers and 650 employees”, the Department for Business, Energy and Industrial Strategy (BEIS) confirmed. However, despite BEIS saying the sale will be completed after a legislative process called an energy transfer plan and Energy Secretary Grant Shapps giving his go-ahead to the plan, the date it will take place has now been postponed. High Court judge Mr Justice Zacaroli ordered the transfer date to be delayed from November 15, saying energy companies Scottish Power, British Gas and Eon had raised concerns about the proposal. British Gas and Scottish Power argued they had not been given enough time to consider the deal and raised the possibility of a legal challenge against Mr Shapps’ approval. Bulb administrators said there was “significant commercial urgency to justify proceeding”, but a British Gas spokesman said there were concerns the proposal could be “illegal”. David Allison KC, for Scottish Power, later said there were “very serious concerns about the process”. He told the court: “There is such a degree of variation in the terms of the agreement that it is impossible for Scottish Power and its legal team to understand the agreement.” Use Chrome browser for more accessible video player 2:16 Energy price hike: “It’s horrible” The High Court judge stopped short of ordering the system to start, with a hearing now expected around the end of the month. Mr Justice Zacaroli said: “I don’t think there is a level of urgency that requires me to go ahead and set an effective date today. Friday’s hearing comes after a different judge delayed a bid by Bulb’s administrators to repay costs totaling more than £28m.
