Octopus Energy Reports Annual Loss Amidst Acquisition Costs and Reduced Demand
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Octopus Energy Reports Annual Loss Amidst Acquisition Costs and Reduced Demand

Octopus Energy Group reported a net loss of 255 million for the year ending April, a reversal from the previous year's profit. The company cited reduced gas consumption due to a mild spring, significant one-time costs associated with acquiring Bulb Energy, and substantial investments in new green technologies as primary reasons for the loss. Despite rapid expansion to become the UK's largest power supplier, Octopus has faced challenges meeting new regulatory cash reserve requirements.

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