Bulb Energy: Insolvency

(asked on 25th November 2021) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate he has made of the cost of the public purse in the next (a) 3, (6) and (c) 9 months of his Department's implementation of a special administration regime on Bulb Energy Ltd.


Answered by
Greg Hands Portrait
Greg Hands
Minister of State (Department for Business and Trade)
This question was answered on 1st December 2021

The Government has made a £1.7 billion loan facility available to the energy administrators for Bulb Energy, to provide working capital for a six-month period. As my Rt. Hon. Friend the Secretary of State set out in the House of Commons last week, we intend for the SAR process to be temporary and has instructed officials, industry and Ofgem to work to that end.

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