Bulb bailout may cost UK government billions less than feared, says watchdog

National Audit Office estimates bill of £246m for saving energy supplier as result of sharp fall in gas prices

The bailout of the bust energy supplier Bulb is expected to cost the government billions of pounds less than originally feared because of a sharp fall in wholesale gas prices, according to the National Audit Office.

The public spending watchdog said the government may end up spending £246m on saving the supplier, which has 1.5 million customers and was acquired by Octopus Energy late last year.