The Financial Times (U.K.) reported that Bulb is seeking new funding, "to secure its future ... as record wholesale energy prices create turmoil in the sector."

Citing sources, FT reported that, "options include raising new funds from investors as well as talking to other suppliers about a potential joint venture or merger."

With five suppliers recently ceasing operations, the Financial Times reported that suppliers have told the U.K. government that only 6 to 10 suppliers could be left standing after this coming winter ends, from over 50 suppliers at the start of 2021

Bulb said in a statement to the FT that, "from time to time we explore various opportunities to fund our business plans and further our mission to lower bills and lower CO2."

"Like everyone in the industry, we’re monitoring wholesale prices and their impact on our business," Bulb said in a statement to the FT

See the Financial Times for more

Tags:
Bulb   U.K.   Finance   Wholesale   M&A  

Comment on this story


ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com
TPV-SALES-EXECUTIVE -- Back Office Provider -- Other
Sr-Market-Risk-Analyst -- Wholesale Supplier/Trader -- New York - New York City Metro
Energy-Regulatory-Specialist -- Other -- Other
More Stories on RetailEnergyX.com:
FERC Orders $230 Million In Penalties Against GreenHat, Related Parties '
Retail Supplier Expands Program To Offer Power To Tesla Battery Customers '
FT: Mitsubishi-Backed Retail Supplier 'Prepares Bid' For International Retail Supplier With U.S. Arm
Shell Acquiring 250,000 Customers From U.K. Supplier;' Octopus Acquiring 580,000 Customers
UK Retail Supplier With US Affiliate In Talks To Secure 'New Funding'; Wholesale Prices Challenge