Govt sets aside £1.7bn for Bulb

The collapse of Bulb highlights the failings in the UK's retail energy sector. And keeping the company running until April will cost £2.1bn. But the wider cost of these failings is far greater, as indicated by this chart from Financial Times. #energy #retail

£1.7Billion is the cost of government intransigence on the price cap, the loss they would have forced on Bulb. It’s good that they are experiencing this first hand. Just a shame it’s public money and not their own.https://https://lnkd.in/eQRKm8iP

1.7bn tax payer funded loan with more available if needed. Good news for those employed, customers and businesses who rely on Bulb. But from a tax payer point of view, this is a huge sum of money. Why didn't they move the customers to multiple alternative suppliers with segmented transfers. https://lnkd.in/dsshJZGz

£1.7Billion is the cost of government intransigence on the price cap, the loss they would have forced on Bulb. It’s good that they are experiencing this first hand. Just a shame it’s public money and not their own.https://https://lnkd.in/eQRKm8iP

To the recruiters who have been contacting me all day: I’m flattered, but I have a new role elsewhere 🚀 However, I can vouch for the Bulb employees. The type of person who works at Bulb is proactive, driven, kind and passionate. I’ve never known a better group of individuals and they deserve better than the news we woke up to today. If you’re a recruiter reading this, anyone with Bulb on their CV would be an asset to your company 💪 And if you work at Bulb (or in the energy sector in general and are facing uncertainty), I’m thinking of you and my inbox is open if you want to talk about anything 💛