City Of London
UK Accused of Cover Up Worth Billions to Rush Bulb Sale
- Judge denies energy firms speedy hearing over government deal
- Completion date for sale set for Dec. 20 after court approval
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Centrica Plc accused the UK of covering “a mess up worth billions of pounds” to taxpayers as it tried to rush through the sale of collapsed Bulb Energy Ltd.
The decision to sell Bulb to Octopus Energy Ltd. is being challenged by Centrica unit British Gas, Iberdrola SA’s Scottish Power and EON SE over the lack of transparency and what the subsidies on offer to potential bidders were. The group of rivals asked for a judicial review of the process days after a London judge set a date of Dec. 20 for the deal to complete.