U.K. Energy Companies Lose High Court Challenge Over Bulb's Sale to Octopus, the Guardian Reports
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Dow Jones
--U.K. energy companies E.ON, Centrica's British Gas and Iberdrola's Scottish Power have lost a high court challenge in the U.K. over the sale of Bulb Energy by the government, the Guardian reports.
--The companies alleged that the U.K. government's decision-making process was flawed when Bulb was sold to rival Octopus Energy after it went into special administration in 2021, the Guardian says.
--According to The Guardian, Octopus argued that its purchase would be "extremely beneficial" for the government and taxpayers.
Full story: https://bit.ly/3nBZFrV
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
March 31, 2023 10:43 ET (14:43 GMT)
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