Bulb bailout may cost UK government billions less than feared, says watchdog

Bulb was a challenger to the incumbent large energy suppliers but collapsed in November 2021. Photograph: Tony Smith/Alamy

The bailout of the bust energy supplier Bulb is expected to cost the government billions of pounds less than originally feared because of a sharp fall in wholesale gas prices, according to the National Audit Office.

The public spending watchdog said the government may end up spending £246m on saving the supplier, which has 1.5 million customers and was acquired by Octopus Energy late last year.