Octopus Energy recently sealed a deal to buy Bulb, its collapsed rival which has been run with billions of pounds of UK Government support for nearly a year. Over the weekend, Octopus announced it is taking on Bulb’s 1.5 million customers after the firm was placed into special administration in November 2021.
Bulb customers will not experience any disruption to their energy supplies as part of the transfer to Octopus and consumer champion, Martin Lewis, told viewers on his weekly Money Show Live on Tuesday night that credit balances will also be protected. However, the financial guru also issued urgent advice to the 1.5m customers involved in the move this month.
He explained: “You will automatically be moving to Octopus in November, now let me just be plain - your credit is safe, you do not need to cancel your Direct Debit, your supply and price won’t change because you’re on the price cap - basically, you don’t need to to do anything.”
