Bulb Energy: Insolvency

(asked on 4th July 2022) - View Source

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

To ask Her Majesty's Government (1) what is the total cost to date for their support for Bulb Energy, and (2) what estimate they have made of the final cost of that support.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 18th July 2022

The Government is working closely with the Energy Administrators to minimise any costs to the exchequer and billpayers. In the progress report to creditors on 15 June, the Energy Administrators confirmed that £901m has been drawn down to meet the cost of the Energy Administration to date.

The Energy Administrators estimated at the outset of the SAR that £1.7bn of Government finance would be required. The £1.7bn figure remains the overall facility limit. This is an estimate, and the final cost of the SAR could change in either direction given energy price volatility.

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