Bulb takeover saga sheds gentle on ‘disgraceful’ lack of transparency | Nils Pratley

Selling a nationalised vitality provider, even one with 1.5 million prospects, should be a easy course of. First, you invite bids. Second, you assess the proposals, weighing them in opposition to standards reminiscent of deliverability, worth for cash for taxpayers and probability of accelerating competitors. Third – and that is the crucial bit – you clarify your resolution.

With Bulb, at the same time as a court on Wednesday approved the transfer to Octopus Energy, we’re nonetheless none the wiser about the principle monetary factors. Octopus is alleged to be paying £100m to £200m however no minister has confirmed the determine. Nor do we all know why Octopus was chosen, or the scale of the monetary help being superior from public coffers to allow the customer to finish the deal.