Scottish Power, British Gas and Eon had challenged the way Bulb was sold to Octopus Energy - but Octopus said the legal case 'smacked of desperation' to 'defend their waning market positions'.
But in Friday's ruling, Lord Justice Singh and Mr Justice Foxton dismissed the energy companies' case as"not... reasonably arguable".
They also said it was open to ministers to find that"other options were inferior to proceeding with the Octopus bid, involving significant execution risks and higher forecast costs".A spokesperson for British Gas owner Centrica said state bailouts for energy companies put a"burden" on UK taxpayers and are"avoidable".
"We believe that the way the deal was structured creates serious risk for taxpayers and energy consumers and will distort the energy market."Michael Lewis, chief executive of Eon UK, said they would look more closely at the ruling and consider their next steps.
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