Energy Transfer Scheme notification: Bulb Energy
Updated 21 December 2022
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On Friday 28 October 2022 the administrators of Bulb Energy Limited (Bulb) entered into a sale transaction that will move Bulb’s customers to the group of existing energy supplier Octopus Energy.
Bulb has been in an Energy Supply Company Special Administration Regime since November 2021.
Read the press notice on the Contract Signing
The completion of the sale transaction is conditional on an Energy Transfer Scheme.
Update: 21 December 2022
The Energy Transfer Scheme (ETS) has now taken effect as per the timings ordered by the High Court. See the Bulb updates for members for further information.
Update: 9 November 2022
The Secretary of State has consulted the Gas and Electricity Markets Authority (GEMA) and has approved the Energy Transfer Scheme (ETS), having had regard, in particular, to the public interest and the effect the ETS is likely to have (if any) upon the interests of third parties. The ETS will take effect on a date and time ordered by the Court.
About the Energy Transfer Scheme
An Energy Transfer Scheme (ETS) is a statutory process described in Schedule 21 of the Energy Act 2004.
The making of an ETS requires the approval of the Secretary of State for Business, Energy and Industrial Strategy (BEIS) and will take effect at a time to be ordered by the High Court of Justice. In deciding whether to approve the ETS, the Secretary of State must have regard, in particular, to the public interest and the effect the scheme is likely to have (if any) upon the interests of third parties.
What you need to do
The transfer will not require you to do anything, your supply will continue as normal. Find out more from the Bulb update for members on their website.
Your tariff will not change
You will continue to get supply of energy and the terms and conditions of your tariff will remain the same.
Your credit balances
Your credit balances are protected and will transfer to Bulb UK Operations Limited. Any direct debit mandates will also transfer.
Your rights as a customer
Your customer rights against Bulb in relation to energy supply generally will be transferred to Bulb UK Operations Limited and all of Bulb’s obligations as an energy supply company to its customers will also be transferred to Bulb UK Operations Limited.