Wholesale energy market update - The Bulb Blog — Bulb Community

Wholesale energy market update - The Bulb Blog

edited November 2016 in From the Blog

imageWholesale energy market update - The Bulb Blog

Four weeks ago, we updated you on what had been going on with wholesale energy prices. Wholesale energy costs typically make up around 40% of most people’s energy bills, and therefore require close attention. Since we published the blog, prices have remained high, and several other...

Read the full story here


Comments

  • Should you not be telling us what the new price per unit is going to be, that's not mentioned on the email or this blog post, it just gives an average cost per month which means nothing because you've not told us what your 'average' is.
  • Yes agree with this. What kind of household us average?,
  • It would be nice to know what the new prices are??
  • I agree with the other comments. I have just signed up with bulb and "average cost" is not helpful. I made my decision based on unit cost and now have to decide within a few days whether to look around again or go ahead with contract.
  • I will not be switched to Bulb until 2 December as I did not realise that it took six weeks to affect a switch. I have now been penalised by my currently supplier who have stuck me on their highest tariff and if I cancel my switch any which way I lose but if there is an increase in prices then perhaps you update your tariffs immediately so that I can check to see if I should stay or go back to my former supplier Ovo
  • @shez82 @ck1 @wooddy1943 @dee_321 @carol_at_188

    Your individual changes were in an attachment to the email, so if you have a look there you'll see your unit rates, annual usage and how much this will specifically affect you. Let me know if you need any help with it.

  • This price increase is in particularly bad timing for the new customers, like myself.

    I know you will say you are still cheaper than the competition and that there is no option as it's market forces etc so that's just our bad fortune but the timing is lousy heading into winter and the email wording is also lousy.

    Addressing me personally is fine then to go on to explain how the typical bulb customer will be affected is not good enough because as your tone suggests you care and you treat your customers well and fairly - yes this is a major reason for switching to you not just because it's renewable but I am not a typical customer and I would suggest that actually no-one is.

    You advise me that you are charging an additional 20% for daytime energy which is nowhere near the 'average' 9.2% you are claiming, which is very misleading indeed.

    Please explain your increase from 12.04p to 14.45p per kWh.
  • Please do not use such dreadful pictures - particularly the bloke with all the post-it notes on his screens; this is a very bad look. The library pictures add no value whatsoever either.
  • If I have understood the comment from mjp: "You advise me that you are charging an additional 20% for daytime energy" that would mean that senior citizen will be badly hit by a 20% increase. This means that I would be much worse off
  • Oh dear.

    Stupid me for being lured in by the headline rates.... and finding that the prices are rising considerably with a day to go before my switch is complete.

    I've even recommended people to you based on your initial offering of 2.39 p / kWh for gas - and now look decidedly stupid in front of my friends.

    Clearly no such thing as a free lunch !

    May I strongly suggest that if you make a commitment to new customers that you HONOUR it for a decent period of time. Like at least several months. It really seems very devious to have been lured in by a good headline rate a couple of weeks ago, and then have that changed within literally days.

    Be warned, your 'softly & friendly' branding work is completely blown out the water by these sort of antics.
  • @mjp the 9.2% is for the total energy use over a year for a typical home. That's defined by Ofgem as using 3,100 kWh of electricity and 12,500 kWh of gas. The biggest wholesale price increases have been to what's known as "Block 5", electricity used between 3pm and 7pm. This means that electricity day rates are impacted more than other rates, such as our gas.

    We've given every member a detailed description of how the changes affect them. It was attached to the notification email that we sent out. And the new prices won't go into effect until December 17th. If anyone starts a switch to a new supplier before then we'll continue to honour our old prices while they switch, even beyond that date.

    We know how frustrating this is. Since we follow wholesale prices so closely we have been forced to increase our prices. As soon as wholesale prices drop again, we'll be sure to match it.
  • @andrewsmith

    We're honouring the existing prices for 30 days, and beyond that for anyone in the process of switching away until January 18th. We know this is frustrating, especially if you've only just joined us. It's the nature of a variable tariff to change though. Especially our variable tariff which matches the wholesale market as closely as possible. We held off for as long as we could, but with our very narrow margins, the 24% increase in the last 2 months has forced us to increase. As soon as we're able to, we'll drop our prices again.

    Will
  • Well how embarrassing.
    Switch, switch, switch, save some money, save the planet, invite your friends.
    Free lunch... methinks it'll be a salad.
  • will said:

    @shez82 @ck1 @wooddy1943 @dee_321 @carol_at_188

    Your individual changes were in an attachment to the email, so if you have a look there you'll see your unit rates, annual usage and how much this will specifically affect you. Let me know if you need any help with it.

  • Thank you
    Next time you sent out a general letter itvwould be good to tell us in the last parsgrsph what is attached! I assumed the chart was the end as did others
  • @ck1 great feedback. We mentioned it at the start of the second paragraph where we talk about the 9%, but if it's easy to miss then we'll make sure we make it clearer next time.
  • I do not seem to be able to get in touch with Bulb because according to Bulb: We've had a lot more queries than normal in the last week so it's taking us up to 3 working days to respond. We'll get back to you as soon as we can.

    I have been waiting for a reply for two weeks now
  • I'm sorry you've been having trouble getting in touch with us. I've had a look and all the emails I can find from you had been replied to within a day, and we spoke with you on the phone from the one on the 11th of November. Is there another problem that I've missed, or is there something still to be sorted from your case on the 11th?
Sign In or Register to comment.