Octopus Energy Reports Annual Loss After Mild Spring Cuts Demand

Octopus Energy Group Ltd. swung to a full-year loss after reporting a slump in gas consumption and one-time costs from its acquisition of Bulb Energy Ltd.

The British energy supplier posted a net loss of £255 million ($344 million) for the 12 months through April, compared with a profit a year earlier. It said the UK’s warmest spring on record drove down heating demand.